Innovation Project Summary Cookhouse LabS
SummerHack 2022: “Artificial Intelligence” Winning Solution
How might we use AI to help customers better understand their financial needs and choose the right products?
How might we use AI to nudge customers to change their behavior to avoid or lower claims overall?
How might we use AI to develop and distribute inclusive insurance products to emerging markets?
How might we use AI to build trust in insurance amongst our customers?
clothing export company, has two children and lives in Guangzhou
With limited time on hand, Team HSBC decided to take
on the challenge of
supporting customers in better understanding their financial needs, as currently it is easy to miss out on a chance to invest, manage debt, climb onto the property ladder and save for – and eventually enjoy – retirement.
Financial planners need support in rapport building and better knowledge of the financial products they are responsible for, in order to enhance trust building and better support clients like Mr Li.
How can we leverage an AI and knowledge base to take on some of these coaching tasks to scale up the quality of the PFP? This will free up the human coaching team to focus on the highest value activities and be more proactive, rather than reactive.
The team ideated several solutions to support new advisors and selected the final AI-based coaching solution to guide planners in real-time through each step of the journey.
How might we use AI to provide real-time coaching support to enhance the advisors’ capabilities (especially inexperienced ones), in order to improve the quality of information, answers, and advice provided to our clients?
An AI-based tool that helps advisors, especially inexperienced ones, with real time information, guidance, and advice during client interactions.
eJames is present during client conversations and ready to help advisors have “smarter” conversations! eJames listens to conversations between advisors and clients, and in real-time identifies topics and questions in the conversation.
The AI tool constantly filters and ranks these topics throughout the conversation and leverages a knowledge bank to identify industry insights relevant to these topics. eJames sends suggestions and content back to the advisor in real-time on their screen to help with the conversation.
In simple: eJames is the “Alexa” for financial planning!
At the end of the 2-day ideathon, 13 global teams pitched their ideas to our panel of experts.
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