Tokio Marine Life Insurance Singapore Ltd. accelerates digitisation and insurtech implementation with market’s first chatbot

Tokio Marine Life Insurance Singapore Ltd. accelerates digitisation and insurtech implementation with market’s first chatbot

Singapore, 17 Jan 2017 – Tokio Marine Life Insurance Singapore Ltd. (TMLS), one of Singapore’s leading retirement insurance provider, is accelerating its digital and insurtech journey through the development of tools to engage the entire customer value chain. As part of this strategy, TMLS has launched the industry’s first self-learning chatbot for advisers that aims to promote greater human resource efficiency.

The chatbot, named TOMI (short for Tokio Marine Insurance), is Singapore’s first chatbot to be offered by an insurer for advisers. Available 24/7 through Facebook Messenger, it can answer FAQs and continuously expand its knowledge base by keeping track of questions it is unable to answer. Unlike average chatbots that rely on keywords, TOMI is powered by Deep Learning for Natural Language Processing (Deep NLP). This allows it to answer questions quickly and accurately, regardless of how the user structures each question. 

“With the launch of TOMI, we hope to provide instant answers to operational enquiries, which enables our frontline staff to focus on dealing with more complex queries,” said Cheong Wai Hon, Chief Information Officer of TMLS. “While TOMI currently focuses on enhancing internal efficiency and adviser engagement, plans are underway to expand its functions to allow for customer-facing interaction.”

Apart from answering FAQs automatically, TOMI proactively engages advisers by sending push notifications of relevant industry articles and allows advisers to take short quizzes, with incentives for those who can answer all questions correctly. TOMI was co-created with home-grown startup, an incubatee at SGInnovate.

In line with its digital strategy, TMLS also launched TM Wave, an in-house initiative that streamlines administrative processes for advisers. The app allows outstanding documents to be submitted as a photo via smart phones, minimising turnaround time significantly.

“As our industry continues to explore the applications of insurtech, we are excited by the possibilities new technologies offer. TMLS is committed to harnessing the best technology for our advisers and customers,” said James Tan, Chief Executive Officer of TMLS.

“TOMI and the TM Wave app set the tone for our technological transformation as we innovate and advance our digital capabilities by implementing new sales tools, customer service portals and data analytics. With the benefits of digitisation, we look forward to engaging our customers better,” he said.

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