Insurtech startup Peppercorn launches AI-driven assistant
AI-driven insurance startup Peppercorn has launched a conversational AI insurance assistant that guides customers through the insurance purchase experience more efficiently.
The company, founded by Nigel Lombard, will initially focus on motor insurance with plans to expand to other product lines later on. Its conversational AI removes the need for manual forms and waiting on hold for a customer service agent.
The technology cuts out the need for a physical call centre and – coupled with the firm’s counter-fraud technology and pre-inception underwriting decisioning – means that Peppercorn is able to keep operating costs and expense ratios to a minimum. The company, which raised £1.8m in seed funding last April, employs a team of fully remote engineers, developers, data scientists and customer experience experts who are based across the UK.
Peppercorn overhauling the insurance experience
Nigel Lombard, CEO and Founder of Peppercorn, says: “The traditional insurance model is broken. High operating costs and outdated business practices such as filling out manual forms and leaving customers waiting on the phone on hold all result in a frustrating user experience where the customer ultimately pays much more than they should for insurance. We’re here to change that.”
The fledgling insurtech has just launched on Confused.com.
Lombard continues: “Our team has a dynamic blend of insurance and technology expertise and have worked hard to build a unique experience and service. To launch a quality product on a leading price comparison website in such a short space of time is a testament to the team’s commitment to transforming the insurance industry.
“This is a significant milestone for us and we’re just getting started. Our company is committed to refining and evolving Peppercorn’s platform, empowering our customers and improving their experience one conversation at a time. At a time when saving money on bills is at the top of everyone’s minds, Peppercorn will show how smart technology can result in fairer pricing for consumers. And the response we are already getting from our customers suggests they agree too.”
