Japanese general insurance giant Tokio Marine & Nichido Fire Insurance has enhanced its motor insurance service by facilitating the purchase of insurance policies through speakers equipped with artificial intelligence (AI).
This involves a mechanism through which drivers of a cars equipped with Amazon.com’s virtual assistant AI technology “Alexa” can purchase one-day motor insurance, simply by saying that they want to buy the insurance, according to local media reports.
The new system will reduce the time and effort required to purchase insurance, and expand sales of insurance mainly for young people.
Tokio Marine has since 2012 been offering one-day auto insurance, which can be purchased anytime and anywhere via mobile phone. This allows infrequent drivers using cars owned by their parents or friends to purchase insurance at a low cost. Young drivers who use this product get to accumulate no-claims discounts that can be applied when they buy their first full annual auto insurance policy.