A Scottish fintech will use its pioneering generative AI technology to help drive improvements for the life insurance arm of Lloyds Banking Group.
Aveni AI’s platform will help Cavendish Online to speed up improvements in the quality of its advice and service, as well as helping to detect customer vulnerabilities during a call.
As part of that its technology will ‘listen to and learn from all customer calls’, highlighting ways in which service can be enhanced and enabling targeted skills development for advisers.
Calls will still be led by a human adviser but the algorithm will be able to analyse a full day’s worth of calls in a matter of minutes, driving insights and performance enhancements.
Andy Johnston, an adviser to Aveni, said: “Cavendish Online is making a significant impact in the UK protection market and demonstrates a commitment to innovation and ambition that resonates with our team at Aveni. We have been selected as an AI-partner because of the solutions-based approach of the Aveni platform, combining financial services know-how, with deep expertise in generative AI and natural language processing.
“The power of generative AI will be a game changer in this sector. We look forward to working together in partnership to explore further solutions.”
Rose St Louis, protection director at Lloyds Banking Group and CEO, Cavendish Online, said: “Delivering excellent outcomes for all customers is at the heart of Cavendish Online’s mission. Now we can incorporate Aveni’s generative AI into our processes to provide insight which will help us learn and consistently deliver high quality advice and service to our customers.
“This collaboration marks a significant milestone both for us and for the entire protection market, putting Cavendish at the forefront of AI-driven innovation for financial services distribution, and further demonstrating our commitment and focus on delivering great customer outcomes.”