The insurance industry is shifting their sales mode from offline to online, in expectation to reach massive potential customers in the digitization era. Due to the complexity and the nature of insurance products, a cost-effective online sales solution is to exploit chatbot AI to raise customers' attention and pass those with interests to human agents for further sales. For high response and conversion rates of customers, it is crucial for the chatbot to initiate a conversation with personalized opening sentences, which are generated with user-specific topic selection and ordering. Such personalized opening sentence generation is challenging because (i) there are limited historical samples for conversation topic recommendation in online insurance sales and (ii) existing text generation schemes often fail to support customized topic ordering based on user preferences. We design POSGen, a personalized opening sentence generation scheme dedicated for online insurance sales. It transfers user embeddings learned from auxiliary online user behaviours to enhance conversation topic recommendation, and exploits a context management unit to arrange the recommended topics in user-specific ordering for opening sentence generation. POSGen is deployed on a real-world online insurance platform. It achieves 2.33x total insurance premium improvement through a two-month global test.

Any constituent portal user can initiate any claim type from report-only to full FNOL as part of DRC's latest set of improvements to the DRC Insurance Platform. Decision Research Corporation (DRC), an industry leading provider of cloud-provisioned enterprise solutions for the P&C and Specialty insurance industry, is proud to announce the immediate availability of the DRC Insurance Platform Fall Release, complete with newly added capabilities and functions. The Fall Release highlights DRC's continued commitment towards delivering innovation to the E&S and Specialty Industry. These newly added features will further enable insurers to exceed the ever-changing customer expectations in the industry and stay ahead of the market. Claims Chatbot – A user-friendly and configurable chatbot enabled by AI voice recognition allows the ability to report FNOL and create new claims via a universal interface which can be initiated in Agent, Policy, and Insured Portals as well as partner website.

While the insurance industry has struggled with adopting new digital paths, insurance companies have noticed the growth of highly digitized new market entrants, some of which they may want to emulate. However, as we have seen from past experiences, the copycat approach is often the least successful as only tested breakthrough ideas can yield high financial returns. In just 6 years and despite the pandemic, InsurTech startups are now counting at least 23 well-known unicorn startups within their ranks or insurance companies with a billion-dollar valuation. These digital insurers and service providers use digital technologies to design, deliver, and price insurance offers uniquely. We estimate that the total valuation of our selected 23 companies today represents over $60 billion in valuation within an 850 strong global portfolio worth $2.4 Trillion.