The First Insurance Chatbot in Asia Launched in Taiwan by PHEW
The Introduction of the Chatbot Generated Enormous Interest in Media and Industry Professionals.
PHEW, the No. 1 digital platform for insurance professionals in Taiwan, officially announced the launch of its “Insurance Chatbot” at its press conference on April 16, 2019 in Taipei. PHEW is one of the brands operated by PruWell International, which builds digital platforms that connect consumers with the right insurance products at the right time.
Insurance advisors can customize the Chatbot for their individual sales and marketing efforts towards their existing and prospective customers. With the introduction of this AI-driven Chatbot, PruWell is one step closer to achieving its mission of changing the way insurance is distributed to consumers. This is also a historic step for InsurTech in Taiwan and Asia.
“The Insurance Chatbot empowers insurance professionals and enables them to provide better services to their customers, combining AI and Human Intelligence,” said Mr. James Liu, who is the Founder and Chairman of PruWell International, the parent company of PHEW.
Ms. Jennifer Wang, the former Chairwoman of the Financial Supervisory Commission and a guest speaker at the PHEW Chatbot press conference, commented: “I expect PHEW to take the lead in InsurTech innovation in Taiwan and in Asia and become an InsurTech unicorn in Taiwan.”
Mr. Hsien-Nung Kuei, the Chairman of Taiwan Insurance Institute, also commented at the press conference that global VC investments in InsurTech have been rising rapidly since 2013 and likely will continue rising over the next 5 years.
Mr. CY Huang, the Founding Chairman of Taiwan M&A and Private Equity Council, additionally emphasized that the domain know-how in insurance has become more critical than ever in the success of an InsurTech startup.
Founded in 2016, PHEW started as an insurance content provider. To date, it has published nearly 10 thousand insurance content articles and achieved 17 million page views. But PHEW went above and beyond being a content provider. It has become an insurance advisor enablement platform. It has developed various digital tools to: (1) track the preferences and behaviors of web visitors; and (2) identify for its member insurance advisors suitable insurance products to cross-sell to their end customers. The overall objectives are to enhance efficiency and to improve customer engagement for insurance advisors.