QIC’s AI success
Qatar Insurance Company (QIC) is the largest insurance company in the MENA region. They're now experimenting with Artificial Intelligence. QIC has been using Engati’s chatbots for over 2 years to drive sales and create brilliant customer experiences. They're seeing great results.
QIC wins with Engati
Being the very first insurance company in Qatar, QIC essentially gave birth to the insurance industry in the middle east. They’re one of the highest-rated insurers in the Gulf region.
But, they’re not stopping at the Middle East. They’re going further. And they’ve chosen to do that with the help of AI.
QIC is moving towards His Highness the Father Emir Sheikh Hamad bin Khalifa Al Thani’s Qatar National Vision 2030. They’re making efforts to rank amongst the Top insurance companies, worldwide.
But goals as high as this require taking steps that have not been tried out before.
The path forward
They’re clearly seeing some fantastic results with Artificial Intelligence. In fact, they were recognized as the “Best Personal Insurance Company MENA 2019” at the Global Banking & Finance Review magazine’s Global Banking & Finance Review Awards. The Deputy CEO of QIC, Mr. Fahad Al Suwaidi attributed a large part of the success to AI.
He said, “Qatar Insurance has garnered a lot of success by embracing digital transformation and embedding Artificial Intelligence (AI) to automate systems and processes for simplifying customer journeys.”
Using Engati, QIC has achieved accelerated sales and product servicing. They used chatbots in a rather unique way. QIC enlisted their chatbots as sales agents. Potential customers no longer have to go about the route of waiting for long periods of time before an agent respond.
With Engati, they’ve managed to set up multiple integrations. By integrating their chatbots with their legacy platforms and databases, Engati has helped QIC generate quotations for insurance policies, directly over Engati chatbots. Now, QIC has got itself a competitive advantage.
Customers get frustrated with other companies’ wait times. They now hop over to QIC and are attended to instantly. As a result, QIC increased its market penetration and accelerated sales with “intelligent” self-service
QIC has deployed Engati chatbots customized to serve their customers in the best way possible. This investment has definitely paid off for them.
In fact, the QIC Group reported a stable net profit of USD 184 million in 2019. It’s Gross Written Premiums rose by 2% to USD 3.5 billion in 2019.
In addition to using chatbots for sales and support, they also integrated Machine Learning and AI in their underwriting process. These steps have all contributed to QIC winning the “Best Digital Transformation in Insurance Award” in June 2019.
QIC is winning big-time in the Financial Services sector with Engati chatbots. Now, it’s your chance. Try an Engati chatbot today for free or learn more about how your business could grow with Engati.
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