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AI and The Gen Z Experience

4 minutes read

IRDAI InsurTech Event titled- ‘InsurTech -Catalyst that inspires’ concluded on May 30th in Bengaluru. The event aimed to emphasize on InsurTech ecosystem and its benefit for insurers and saw participation from leading companies like Policybazaar, Shri Ram General Insurance, Reliance General Insurance, and Mantra Labs to name a few. IRDAI chairperson, Mr. Debasish Panda highlighted on the insurance and Insurtech partnerships and the significant role that InsurTechs can play in assisting Indian insurance sector to grow. Parag Sharma, CEO Mantra Labs, was invited as a guest speaker at the event to talk about AI and The Gen Z Experience. 

Parag Sharma, CEO Mantra Labs, at IRDAI InsurTech event.

Here are the key takeaways:

  1. Insurtech 3.0 is all about ‘Experience Economy’. With evolving customer expectations, the real challenge for the insurance industry is getting a product faster. Digital customers today want to buy an experience rather than just a product or a service. Partnering with Insurtechs would give insurers much-needed tech capabilities for product innovation. 
  1. Gen Z places importance on customer experience in various decision-making areas and their willingness to pay a premium for a better experience. In fact, CX is the deciding factor in the buying decision for Gen Z. 
PwC report on Future of Customer Experience Survey
  1. Leveraging technologies such as AI, computer vision, predictive analytics, NLP, OCR across the insurance life cycle to create a superior Gen Z experience.
How to create Value across customer lifecycle through AI & Analytics

Stage 1: Consider and Evaluate 

Data plays a key role in risk evaluation, decision-making process, and improving customer experience. Predictive behavioral analytics helps in identifying consumer patterns and the intent of those behaviors. Insurers need to forecast customer expectations based on historical pattern to improve satisfaction scores and boost revenue per customer.

The ‘Digital Behavioral Intelligence Tool’ by Formotiv helps insurers decipher user motivation and intent scores. They collect roughly 5,000-50,000 behavioral data points from 140+ different features on each individual application and provide personalized product recommendations

Stage 2: Buy and Experience

Speed is what the new customer segment wants. Insurers will need to leverage advanced AI and workflow management to improve onboarding experience for the customers. 

Leveraging advanced AI and workflow management to improve onboarding experience for the ‘want-it-now’ customers.

Stage 3: Improving underwriting through AI-Based Dynamic and Smart Decision making in real-time.

Artivatic has introduced a next-gen smart underwriting cloud–AUSIS which helps to connect, and integrate existing or third-party applications and APIs for end-to-end process.

Arivatic Insurtech & Healthtech Platform

Source: Artivatic Insurtech & Healthtech platform

Stage 4: Payment & Claims Management

Fraud Detection with AI and ML models. 

Anadolu Sigorta recently tested a predictive fraud detection system. This detection engine uses automated business rules, self-learning models, predictive analytics, text mining, image screening, device identification, and network analysis that deliver immediate, actionable insights. A.S. attributed over $5.7 million in savings from the AI system.

Claims processing through Computer Vision technology.

Tokio Marine uses an AI-based CV technology to expedite the motor claims process in Japan. AI image recognition allows insurers to evaluate the damage to a vehicle.

The app also shares repair method recommendations and guides the claim process to ensure each claim is processed and settled as quickly as possible.

  1. Every insurance provider must become a part of the insurance ecosystem.

We are in a world of growing connected devices. McKinsey report suggests there will be about a trillion devices by 2025 that will connect and share data with interoperable standards. 

Ecosystems that will enable this data sharing are already shaping up. 

One such upcoming ecosystem is NDHM, now called ABHA. Right now, the focus of this ecosystem is on seamless data exchange between health facilities, and it is just a matter of time when this will be extended to insurance as well.

Another ecosystem that is fast around the corner is that of connected devices (medical/non-medicals/cars, fitness trackers, smart home gadgets, etc.). Data collected from these devices not only will enable insurers to create innovative products but also help in processing claims without any friction. 

Creating a frictionless Gen Z experience will require insurers to be part of these or at least hook into these ecosystems. Technology will act as an enabler in doing so. 

Summing Up

Building a great Gen Z experience on the foundations of data will need long-term conviction, patience and continuous analysis of user behavior.

Moral of the story is: Smell the cheese often so you know when it is getting old.

We should not be expecting things to remain as they were in the past. A keen eye for the data will help us be nimble and be a step ahead in meeting customer expectations.

If you’re interested in learning about next-gen technologies and how your business can make use of AI, we would love to speak with you. You can reach out to us at hello@mantralabsglobal.com

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Conversational UI in Healthcare: Enhancing Patient Interaction with Chatbots

As healthcare becomes more patient-centric, the demand for efficient and personalized care continues to grow. One of the key technologies that have gained traction in this domain is Conversational UI (CUI) — a user interface where interactions occur through natural language, often with the help of chatbots. For developers, building a robust CUI in healthcare requires a balance of technical proficiency, understanding of the healthcare landscape, and empathy toward patient needs. Let’s explore how CUI can improve patient interactions through chatbots and what developers should consider during implementation.

Why Conversational UI is Gaining Popularity in Healthcare

From scheduling appointments to answering medical queries, healthcare chatbots have become vital tools for enhancing patient engagement and streamlining healthcare workflows. Conversational UIs enable these chatbots to interact with patients naturally, making them accessible even to non-tech-savvy users. By incorporating AI and NLP (Natural Language Processing), chatbots can now simulate human-like conversations, ensuring patients receive timely, relevant responses. 

Image credit: https://www.analytixlabs.co.in/blog/ai-chatbots-in-healthcare/ 

Key Areas Where Chatbots Are Revolutionizing Healthcare

  1. Appointment Scheduling and Reminders – Chatbots can automatically schedule appointments based on patient availability and send reminders before the visit, reducing no-show rates. For developers, this feature requires integration with hospital management systems (HMS) and calendar APIs. The challenge lies in ensuring secure and real-time data transfer while adhering to healthcare compliance standards like HIPAA.
  1. Medical Query Resolution– Chatbots equipped with NLP can answer common patient questions related to symptoms, medications, and treatment plans. This reduces the burden on healthcare providers, allowing them to focus on more critical tasks. Developers working on this feature need to consider integrating medical databases, such as SNOMED CT or ICD-10, for accurate and up-to-date information.
  1. Patient Monitoring and Follow-ups – Post-discharge, chatbots can monitor a patient’s condition by regularly asking for health updates (e.g., vital signs or medication adherence). Developers can integrate IoT devices, such as wearable health monitors, with chatbot platforms to collect real-time data, providing healthcare professionals with actionable insights.
  1. Mental Health Support – Chatbots have shown promise in offering mental health support by providing patients with an outlet to discuss their feelings and receive advice. Building these chatbots involves training them on therapeutic conversational frameworks like Cognitive Behavioral Therapy (CBT), ensuring they offer relevant advice while recognizing when a human intervention is required.

Key Considerations for Developers

1. Natural Language Processing (NLP) and AI Training

NLP plays a pivotal role in enabling chatbots to understand and process patient queries effectively. Developers must focus on the following:

Training Data: Start by gathering extensive datasets that include real-life medical queries and patient conversations. This ensures that the chatbot can recognize various intents and respond appropriately.

Multi-language Support: Healthcare is global, so building multi-lingual capabilities is critical. Using tools like Google’s BERT or Microsoft’s Turing-NLG models can help chatbots understand context in different languages.

Contextual Understanding: The chatbot must not just respond to individual queries but also maintain the context across the conversation. Developers can use contextual models that preserve the state of the conversation, ensuring personalized patient interactions.

2. Security and Compliance

Healthcare chatbots handle sensitive patient information, making security a top priority. Developers must ensure compliance with regulations such as HIPAA (Health Insurance Portability and Accountability Act) in the U.S. and GDPR (General Data Protection Regulation) in Europe. Key practices include:

  • Data Encryption: All communication between the chatbot and the server must be encrypted using protocols like TLS (Transport Layer Security).
  • Authentication Mechanisms: Implement two-factor authentication (2FA) to verify patient identity, especially for sensitive tasks like accessing medical records.
  • Anonymization: To avoid accidental data breaches, ensure that the chatbot anonymizes data where possible.

3. Seamless Integration with EHR Systems

For chatbots to be truly effective in healthcare, they must integrate seamlessly with Electronic Health Record (EHR) systems. This requires a deep understanding of healthcare APIs like FHIR (Fast Healthcare Interoperability Resources) or HL7. Developers should aim to:

  • Enable Real-time Updates: Ensure that chatbot interactions (e.g., new appointment schedules, and symptom checks) are instantly reflected in the patient’s EHR.
  • Avoid Data Silos: Ensure that all systems (EHR, chatbot, scheduling system) can communicate with each other, eliminating data silos that can lead to fragmented patient information.

4. Scalability and Performance Optimization

In healthcare, downtime can be critical. Developers need to ensure that chatbots are scalable and capable of handling thousands of patient interactions simultaneously. Using cloud-based platforms (AWS, Google Cloud) that offer auto-scaling capabilities can help. Additionally, performance optimization can be achieved by:

  • Caching Responses: Store frequently used responses (such as FAQs) in memory to speed up interaction times.
  • Load Balancing: Implement load balancers to distribute incoming queries across servers, ensuring no single server is overwhelmed.

Tools and Platforms for Building Healthcare Chatbots

Several tools and platforms can aid developers in building healthcare chatbots with conversational UIs:

  1. Dialogflow (Google): Offers pre-built healthcare intents and integrates with Google Cloud’s healthcare APIs.
  2. Microsoft Bot Framework: A scalable platform that integrates with Azure services and offers AI-driven insights.
  3. Rasa: An open-source NLP tool that provides flexibility in creating highly customized healthcare bots.

Conclusion

Conversational UI in healthcare is transforming patient care by offering real-time, scalable, and personalized interactions through chatbots. However, for developers, building these systems goes beyond programming chatbots — it involves understanding the unique challenges of healthcare, from regulatory compliance to seamless integration with hospital systems. By focusing on NLP capabilities, ensuring security and privacy, and integrating with existing healthcare infrastructure, developers can create chatbots that not only enhance patient interaction but also alleviate the burden on healthcare providers.

References

  1. NLP in Healthcare: Opportunities and Challenges
  2. HIPAA Compliance for Chatbots

About the Author:

Shristi is a creative professional with a passion for visual storytelling. She recently transitioned from the world of video and motion graphics to the exciting field of product design at Mantra Labs. When she’s not designing, she enjoys watching movies, traveling, and sharing her experiences through vlogs.

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