PolicyGPT by Plum Witnesses Triple Adoption, Handling 68% of Queries Autonomously

Plum’s PolicyGPT, an AI-powered tool launched in April 2023, has experienced a significant threefold increase in adoption, handling 68% of customer inquiries autonomously. With an average of 1500 inquiries per week and 200 queries daily, PolicyGPT has proven effective in resolving policy-related questions for users of Plum’s insurtech platform. Built on the advanced RAG architecture and OpenAI’s GPT model, PolicyGPT educates users about their health insurance policies, aiming to enhance transparency in the insurance industry.

Saurabh Arora, Co-Founder and CTO of Plum, emphasized the importance of integrating technology into insurance to simplify processes and improve customer experiences. He highlighted PolicyGPT’s role in swiftly addressing customer queries without human intervention, thereby alleviating anxiety often associated with insurance-related issues.

The focus for Plum’s future endeavors with PolicyGPT lies in scaling bot-led interactions to increase ticket deflection rates and reduce manual responses, particularly in areas such as medical coverages, policy details, and claims processes. Debankur Biswas, Senior Vice President and Head of Operations at Plum, underscored PolicyGPT’s contribution to enhancing customer service by saving valuable time for the customer service team, allowing them to focus on resolving more complex inquiries and improving overall service quality.

Plum has consistently introduced innovative features like WhatsApp claims and paperless reimbursements to enhance customer experiences. With PolicyGPT and the adoption of GenAI, Plum remains at the forefront of the insurtech industry, providing exceptional value to its consumers.