The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.
Tell us daisee’s brief pitch.
daisee helps you know exactly where to focus by analysing every word your customers say to your company. Our solution ‘hears between the lines’ and can evaluate the quality of every voice interaction using our proprietary algorithms.
daisee has developed a fully automated programmable scorecard that rates and ranks all calls. High-Risk calls are clearly flagged, so you know which calls to focus on. The benefit is that you can dramatically improve your control framework, deliver significant operational savings and most importantly, increase your revenue generation and customer experience.
So how did daisee begin?
daisee began with the concept of commercialising Artificial Intelligence research from Australian Universities. A number of areas were evaluated and after experimenting with several other solutions and business challenges.
How has daisee evolved since its inception?
We originally decided to specialise in computer vision and voice and had several product ideas. One of them resulted in a Joint Venture called BuildAI with Mirvac. This offered a Computer Vision application to create a ‘Digital Twin’ and compare the buildings progress to the plan and to improve quality as a result.
This evolved when we realised how effective our Speech Analytics solution was. Then we took the strategic decision to focus solely on this area with a goal to be a world leader in its application.
What is your team currently working on for 2021, or what have you accomplished recently?
We recently launched Daisee Essence – which uses unsupervised learning to derive the core reason for calls. These are often called Call Drivers – and we have developed a method to decipher all the language and evaluate what the core reason is for the call. This can then be used to evaluate many factors, including process wastage, customer effort, and many other elements of improving customer experience.
We are also working on revolutionary technology to evaluate and improve Live Person Chat and bot chat outcomes. This product will evaluate the text interactions between customers and agents, score and rate and rank them for effectiveness, timeliness and how well they resolved the issue. We believe this a world first and will have the potential to open up many new markets.
Another big focus for us is the RG271 legislation and helping Insurance companies prepare and improve their complaint handling identification and processes.
How does daisee give back?
daisee employees a number of interns that are still completing University. We feel that this gives the students real-world experience and understanding of how technology is applied to business situations. We train them in AI and provide access to real business problems and exposure to our clients.
daisee works with a number of organisations and government agencies on policy issues, including privacy legislation, AI strategy and improving Australia’s international position in the application of AI technology. We have also worked on a number of regulatory projects which we feel will have wide benefits for consumers as the frameworks evolve to add more sophisticated protections.
What is daisee‘s biggest challenge in today’s market?
Our biggest challenge is generating enough awareness of the power of our platform with Senior executives. This then manifests itself in longer sales cycles as companies can be slow to innovate and adopt new technologies. We see dramatic improvements in all our customers’ operations, so we are impatient to roll it out more widely.
Anything else you’d like to say that we didn’t ask?
We offer a solution that is pre-trained, ready to go and will deliver immediate value to any Insurance business. We feel that we can substantially improve your efficiency and generate a very positive ROI. Our solution is a real game-changer, and we will offer any member organisation a free POC.