Berlin Insurtech INZMO launches ChatGPT powered chatbot, NIMO, to enhance customer service

INZMO, the leading Berlin insurtech building the financial ecosystem to serve the European rental industry, has announced the launch of its new chatbot assistant, NIMO (Neo-Insurance Multitasking Opal).

Powered by OpenAI’s ChatGPT (Generative Pre-trained Transformer) technology, the advanced AI model that has revolutionised natural language processing (NLP), NIMO is now available via the INZMO consumer website to provide customers with fast, accurate, and personalised assistance 24/7. The chatbot release follows on from INZMO investor Helvetia’s recent launch of its own chatbot service providing information on insurance, pensions and home ownership.

NIMO will provide instant assistance to customers, addressing frequently asked questions relating to INZMO insurance products to help them make more informed decisions. This includes providing information on a policy, claim procedures, coverage options, pricing structures and ensuring users receive accurate and comprehensive information tailored to their specific needs.

Commenting on the launch, Meeri Savolainen, INZMO’s Founder and CEO said: “At INZMO our vision is to provide innovative insurance products that simplify the lives of our customers. We’re also committed to setting new standards in customer service and convenience, and our chatbot is a significant step in this direction. With NIMO, we’re aiming to enhance the customer experience while streamlining our operations and reducing costs so we can provide even greater value to our users.”

At launch NIMO will primarily address customer service enquiries with INZMO closely monitoring the technology to gauge its potential and to gain insights into customer impact and engagement. INZMO will use these findings to inform plans to further develop the chatbot’s capabilities to support customers in other areas. For instance, the insurtech is already looking to build out the chatbot’s self-service functionality, so customers can conveniently manage various aspects of their policies, be it modifications, cancellations, extensions, or even payment-method changes.

Other future developments being explored include guiding customers through the sales journey and offering personalised recommendations based on individual needs and demographics, and supporting in the claims and settlements process. Here NIMO would verify the validity, accuracy, and completeness of claims, streamlining and making what is often a stressful process more efficient and hassle-free for customers.

Illimar Hirsnik, Chief Technology Officer at INZMO added: “It’s clear that AI and large language models will be a critical asset to our sector going forward. Our goal is to be Europe’s most customer centric insurance company, and NIMO will complement our existing approach to delivering exceptional insurance services. By transforming the way customers engage with us, we’re aiming to enhance satisfaction and drive loyalty among our users.”