Multi-lingual Chatbot for Financial Insurance & Takaful (FITbot)

Multi-lingual Robo Advisor and chatbot that utilizes hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized customer experience and generate more referrals.

FITbot multi-lingual chatbot for Financial, Insurance & Takaful

Our 24×7 multi-lingual FITbot
  • Changes the way people think about customer engagement
  • Reduces customer service costs by up to 40% by implementing 24×7 intelligent bots
  • Delivers personalized customer experiences by proactively understanding the customer via real-time lead scoring algorithms and providing a personalized interactive user experiences
  • Personalized experiences generate more warm leads that can be routed to financial advisors, live chat direct marketing, or direct online purchase
  • Continuous improvement using machine learning algorithms that adapts to changes in topics and conversations over time
  • When it cannot answer a question, directs to live chat customer support
  • Predictive personalization rules engine enables companies to quickly configure their financial product recommendations based on lifestyle goals and identified needs
  • Integrates with sales tools and customer databases via secure authenticated APIs

What is FITbot?

  • FITbot is a multi-lingual chatbot and robo-advisor solution for the Financial, Insurance and Takaful sectors
  • FITbot is a module of 121Advisor’s Enterprise Digital Framework (EDF), integrating with
  • FITbot saves the consumer interactions enabling data analysts to view at a later time to verify responses and train the bot to improve responses

How FITbot works

FITbot can be implemented using one of two models Hybrid decision trees Natural Language Processing (NLP)

The choice of models depends on the amount of historical data you have in a particular language

Hybrid decision trees
  • Hybrid decision trees process each token in user input that are matched against nodes in the decision tree
  • Patterns can be defined to match key words that jump directly to a node in the decision tree
  • Requests are quickly processed as the decision tree is represented in a recursive dictionary
  • Used to get a chatbot up and running fast in any language and record the consumer interactions
  • Once consumer interactions are recorded, they can then be used to train the bot and convert to NLP
Natural Language Processing
  • The interpretation is done via Machine Learning (ML) and Natural Language Processing (NLP) capabilities based on Intent and Entities
  • Using the NLP Rule engine and Machine Learning Deep Neural Network for finding the semantic and syntactic similarity between user input and stored expressions
  • NLP may take a little longer to process user request due to the overhead of pre-processing, entity extraction and syntactic analysis of user input
  • Natural Language Processing is used when you have a large number of consumer interactions to train the bot

Applying FITbot to Financial, Insurance & Takaful

FITbot can be used in a number of ways and shared between consumers, customers and distribution channels

Visitor FAQs and Lead Generation

  • 24×7 multi-lingual support answering questions reducing call center costs
  • Generating warm leads for advisors or direct purchase

Customer FAQs & Recommendations

  • 24×7 multi-lingual support on claims and serving enquiries
  • Personalized recommendation of products based on needs and risk
  • Authenticated enquiries on customer purchases

Distribution Support

  • 24×7 multi-lingual support on advisor enquiries
  • Authenticated enquiries on status of customer applications and claims

Robo Advisor

  • Financial planning, Needs based advice, Product Recommendations

FITbot Adapters and Integration

  • ReMMA: Referral Management & Marketing Automation
  • CSSP: Customer Self-Service Portal
  • COS: Choices Online Store for direct purchase
  • McDMS: Multi-channel Distribution Management
  • CEMD: Community Endorsed worksite Marketing and Distribution

  • 3rd party systems via web services, REST or web APIs
  • Data bases via SQL

  • When a customer is asking questions about their purchases, such as status of application or claim, when payment due, change of customer details
  • An agent wants to check on status of their customers’ application, service request or claim

Why Choose 121Advisor
FITbot & EDF

  • Building cognitive engagement systems can be a long and costly process
  • With our many years of experience in the financial services sector, implementing regulatory compliant solutions with our Enterprise Digital Framework (EDF), 121Advisor can help you
    • Design and implement custom chatbot solutions to make products and services personalized and smarter
    • Integrate chatbots with websites, customer portals, direct online sales and communities
    • Leverage on data to tackle challenging problems, such as real-time risk profiling
    • Implement data processing pipelines and streaming analytics to securely analyze events and trigger responses

FITbot

Multi-lingual Chatbot for Financial Insurance & Takaful

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We look forward to showing you how our solution allows you to build a seamless customer experience for your customers.

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Multi-lingual Robo Advisor and chatbot that utilizes hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized customer experience and generate more referrals.

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