Thomas Abraham shared his views on the Managed Platform Model using FinChatBot as a case study – find the link here.
In a marketplace where there are many players, it’s not always easy to set yourself apart from the herd. Yet FinChatBot has managed to do just that. In five short years, this conversational AI platform has set itself head and shoulders above the competition, thanks to its distinctive and innovative offering.
What’s FinChatBot All About?
Created in 2016, FinChatBot was established as a conversational AI platform to assist financial service providers to not only acquire but also retain customers, while simultaneously reducing operating costs.
FinChatBot kicked off its journey in the insurance sector, by assisting clients with sales, customer retention, customer care and other core insurance functions. However, the more closely they worked with their clients, the more they realized that insurance companies required greater levels of support and advice. This support included setting up the proper AI conversational flows for their clients.
As a result, FinChatBot added a consulting service to its offering to provide further guidance and advice which added greater value. They have also included a ‘success fee on conversion’ component to their revenue model which means that they earn when their clients succeed. This is a great incentive for FinChatBot to help their clients do well!
Furthermore, FinChatBot has sought to integrate with the service providers’ core insurance systems. This enables customers to conduct transactions while interacting with an intelligent AI chatbot.
By implementing this managed platform, FinChatBot has been able to demonstrate incredible customer conversion rates for its clients. It saw conversion rates jump from 20% to 40% within 12 months. A definite win for the client’s bottom line!
Offering Stand-Out Value
So how does FinChatBot differentiate itself from other chatbot platforms? Well, other platforms tend to focus solely on the technology side of the product. As a result, many are unable to fully understand the intricacies of the organisation or even the industry in which they operate, and are therefore incapable of providing any real insights for their client. FinChatBot’s managed platform model provides world-class, reliable and secure chatbot technology, it also provides advice and other insights through the consultancy arm. Their all-encompassing approach allows them to add far greater value to their clients than any of their competitors.
With such a successful foray into the insurance sector, FinChatBot is looking ahead. The company has already begun engaging with banks, mobile money providers and other large service providers who will benefit from their managed platform approach. They are also seeking to partner with core banking and insurance platforms to further develop their product offering. If the past year is anything to go by, we can expect to see many more clients joining the FinChatBot family!
A League Of Their Own
FinChatBot is truly enterprise-class. Its package is robust, secure and powerful enough to scale up to meet the needs of the business using it. Not only do they offer an incredible chatbot solution, but they also provide the relevant knowledge, insights and expertise to help their clients along the path to success. As the business continues forward into the digital age, FinchatBot’s solution is guaranteed to put any company well ahead of the curve.
Transcript of video by Thomas Abraham (Scaling up B2B SaaS start-ups)
Put FinChatBot to the test!
At FinChatBot, our conversational AI solutions are created to solve business problems. Our passion for technology ensures that we remain on the cutting edge of development with regards to Conversational AI. Our software constantly learns and assimilates information to provide a personalised experience for each customer.
The tone, language, and approach is customisable to meet the ethos of your brand. We accomplish this mission by using existing messenger services (especially WhatsApp) to meet customers where they’re at, with a platform that they are comfortable with.
If you are interested in integrating conversational AI into your business to solve business problems and better serve customers, click here to request a demo.