Canadian Underwriter

Kanetix implementing AI across all its platforms


February 26, 2018   by Staff


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technology-01Kanetix has announced it is the first Canadian InsurTech company to roll out Integrate.ai (IAI)—an artificial intelligence platform—to improve customer experience, following a pilot period that began in September 2017.

“Implementing cutting-edge AI and machine learning technology to enhance innovation and drive revenue growth at Kanetix Ltd was the ultimate business goal, but it would be meaningless without improving the customer experience too,” Andrew Lo, president and CEO of Kanetix Ltd., said in a news release.

Related: Almost half of Canadians are willing to share data on driving habits: Kanetix

During the pilot period, IAI targeted visitors to the Kanetix.ca website who were undecided about purchasing auto insurance. Based on previous Kanetix.ca data, IAI configured its platform to predict which customers were likely to convert and what method they would use in their transactions. The platform’s predictions improved by about 38% over the course of the pilot, leading to a 13% increase in the number of conversions on Kanetix.ca.

Kanetix says 100% of its Ontario auto insurance quotes are now being run through IAI’s platform, and it is leveraging the technology for its insurance partners.

“We’re looking forward to expanding the use of Integrate.ai’s platform and are keen on sharing our learnings with our peers to help drive the industry forward,” Lo added.

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This story was originally published by Canadian Insurance Top Broker.