Customers can experience the power of AI-driven conversational assistance to get instant solutions
Kotak Mahindra Life Insurance Company (Kotak Life) today announced the launch of its voice assistant KAYA – AI-driven conversational assistance to get instant solutions. Kotak Life At Your Assistance (KAYA) has been developed by Kotak Life and Haptik – one of the world’s largest conversational Artificial Intelligence (AI) platform developers. KAYA provides 24X7 assistance and easy instant solutions to consumers thereby enhancing customer experience by resolving queries about premium payment, policy renewals, policy statements, policy information and bonus / fund value.
Presently, Kotak Life’s customer service department handles a huge number of customer queries on a day-to-day basis. KAYA’s integration into customer service department significantly reduces human dependency and call waiting time, and importantly, ensures queries do not go unattended.
Kirti Patil, Chief Technology Officer, Kotak Mahindra Life Insurance Co. Ltd. said, “KAYA is a major milestone in Kotak Life’s digitalization journey. KAYA has reduced the wait time for our customers by as much as four times, and has reduced human dependence to resolve a large number of routine queries. With its self-learning architecture, KAYA can connect to various sections of the support team for a smooth customer experience.”
KAYA, with a comprehensive understanding of the complex processes, is self-learning and is also equipped with advanced agent chat solution, where complex queries outside its scope are seamlessly transferred to Kotak Life’s customer support teams. Quite a few processes were re-imagined and re-designed to provide simplicity for customers.
Kartik Poddar, Business Head, Haptik said, “Conversational Artificial Intelligence (AI) is really transforming the customer support function by providing real time, accurate and emphatic resolution at scale. We are delighted by KAYA’s immediate impact as she resolves large number of queries while offering consistent experience to each caller. Together, we will keep evolving the virtual assistant KAYA as she becomes the epicenter of customer engagement at Kotak Life.”
Users can start conversations with KAYA on Kotak Life’s website.
About Kotak Mahindra Life Insurance Company Ltd.
Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings. Kotak Life is one of the fastest growing insurance companies in India and has covered over 28.5 million lives as on 30th September, 2019.
For further information visit https://insurance.kotak.com.
About Haptik
Haptik is one of the world’s largest Conversational AI companies, having reached over 100 million devices, and processed over 2 billion conversations to date. The company’s intelligent virtual assistant solutions enable Fortune 500 brands globally to enhance customer experience while saving costs and increasing sales. Haptik has been the recipient of several industry accolades, including the Frost & Sullivan Award for Conversational AI Company of the Year 2018, and recognition as one of the Top 25 AI Companies in the World 2018 by AI Time Journal. Haptik’s leading clients and partners include Samsung, Oyo Rooms, KFC, Coca-Cola, Tata Group, Club Mahindra, and Zurich Insurance among others. Haptik is a part of the Reliance group of companies, who acquired a majority stake in the company in a $100 million deal in April 2019.
For further information visit https://haptik.ai
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