An Insurance A.I. Assistant That Can Sell Policies…In a Couple Years

by | November 27, 2020

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In this episode of Agents Influence podcast, host Jason Cass interviews Sonny Patel, Founder & CEO of Insurmi. Sonny talks about how he built Violet, a digital assistant for the insurance industry. He also shares his knowledge and expertise in the world of Artificial Intelligence.

Episode Highlights:

  • Jason introduces Sonny Patel. (2:12)
  • Sonny mentions that he worked at an agency as an office assistant and worked his way up to become a sales director, for about 3 years. (5:28)
  • Sonny shares that the problem in their industry was the way they were selling policies was outdated, and most of what they’re doing in their agency is done offline. (5:43)
  • Sonny mentions that he started Insurmi in 2006. (6:25)
  • Sonny mentions that they built Violet for two primary customer segments, for the enterprise, and the agencies. (9:42)
  • Sonny shares that they built Violet in a way that is tailored for an insurance agency. Therefore, the onboarding and the setup of the product are specifically tailored for a commercial agency or a personal lines agency. (9:58)
  • Sonny mentions that they have done everything on the back end manually, and they have gone through every single company in the United States and linked up their claims information. (11:00)
  • Sonny shares that the beta version that they launched for agencies, have it so that submission will go, either through API integration, into salesforce, or any other API enabled CMS, or it will send the agency, the agency owners, or the agents, an email or text message. (12:43)
  • Sonny mentions that they’re trying to position Violet as a center assistant that is connected to everything. (16:29)
  • Sonny thinks that incorporating the behavioral data into the Violet experience is what they plan to have in five years and there are a lot of other companies that are trying to move towards it. (17:55)
  • Sonny shares that he’s a huge advocate for the insure tech industry. (23:45)
  • Sonny mentions that he’s reading a book entitled Entrepreneurial Leadership: The Art of Launching New Ventures, Inspiring Others, and Running Stuff, by Joel Peterson. (26:18)

Key Quotes:

  • “When we look at our product roadmap, we want to have it where Violet can personalize the experience to remember that customer and include different data points into her recommendations and have it become more of a true assistant.” – Sonny Patel
  • “Keep an open mind to new technologies like Violet, and others. I’m a big advocate for the insure tech industry and the space in general and don’t be afraid to try out these new solutions. It can amplify their business to make their jobs easier, more effective, more efficient.” – Sonny Patel
  • “There’s a lot of people trying to improve the industry. And I think if we can embrace them, embrace those visions, then you’ll see an enormous amount of transformation in the years to come.” – Sonny Patel
  • “This is one of the oldest industries in the world and in the US especially, it’s a very dominant industry. And I think if you can position yourself as a partner rather than somebody who’s coming up to blow the whole thing up, then you’ll get more buy-in from stakeholders, more people are receptive to change. It’s more of a human aspect than anything else.” – Sonny Patel

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