Abu Dhabi based Watania Launches new channel for Seamless Motor Insurance Powered by Verloop.io
Dubai – 14 November 2021; Verloop.io, the AI-powered customer service automation company has partnered with National Takaful Company (Watania) PJSC in Abu Dhabi to offer an end-to-end seamless customer experience to new and existing customers of Watania Motor Insurance. With the latest partnership, Watania’s customers will now be able purchase a motor insurance without having to wait or ask for human assistance.
“The deployment of Watania end-to-end motor insurance is another milestone for Verloop as it showcases the power of our conversational AI platform. The potential for a seamless end-to-end sophisticated NLP bots which can resolve queries with multiple accents is very high, particularly in the context of a multicultural customer universe in the GCC,” said Gaurav Singh, Founder & CEO.
Martin, Chief Information Officer at Watania said: “Innovation has been a key driver for Watania, and the deployment of our end-to-end motor insurance powered by Verloop.io, ensures our customers are treated to the best experience. We are evolving with the help of cutting-edge technology to new frontiers of customer relationships by providing them the convenience of buying motor insurance and handling queries and issues that get resolved across WhatsApp, Web and Facebook Messenger.”
Artificial Intelligence is a major demand driver particularly with customers’ transitioning to digital interaction and self-service for routine insurance inquiries and service requests. A recent Verloop study has found that using conversational AI, which leverages Natural Language Processing (NLP) and Natural Language Understanding (NLU), improves customer satisfaction (CSAT) with 65 percent of them preferring self-service.
Gaurav Singh, Founder & CEO, Verloop.io said “With automation deployment, users will now have a frictionless and a seamless experience which will lead to a much better and augmented customer experience. Watania is a truly innovative insurance brand committed towards digital transformation. We are proud to work with them to offer the first of a kind automation on motor insurance and be a part of their transformational journey.”
With the help of Verloop.io’s bots, brands can offer support on multiple channels (such as WhatsApp, Web, in-apps, Facebook messenger, etc) to enhance customer experience without impacting operational expenses. Verloop.io’s super bots can cater to multiple verticals and support 14 languages including English, Arabic, Spanish, Hindi, Tamil, Telugu, Kannada amongst others. These bots have been built on robust AI and ML models and are powered by multilingual NLP architectures and training paradigms.
Verloop.io is the world’s leading customer support automation platform that enables businesses to deliver delightful support experiences to their customers across channels. Verloop.io helps brands securely, effortlessly, and accurately scale up their customer support and is used by over 5,000 brands globally, including Decathlon, Cleartrip, Dar Al Arkan, Fetchr, Livpure, Adani Capital, DSP Mutual Fund, Rentomojo, Scripbox, and many more.
National Takaful Company (Watania) is a young and dynamic organization that came into being in 2011. Watania was issued a license by the UAE Insurance Authority on the 12th of July, 2011 and was listed on the ADX on the 14th of November, 2011. Watania has a paid-up capital of AED150m, and its head office is in Abu Dhabi, United Arab Emirates. Watania is an initiative taken by Abu Dhabi National Insurance Company (ADNIC) (16%), Abu Dhabi National Islamic Finance (ADNIF) (16%), Abu Dhabi National Energy Company (TAQA) (7%), and Aldar Properties (7%). Their objective was to establish a leading takaful operator in the UAE which could meet the demand of the UAE market for Sharia compliant insurance products.
Watania floated its stocks for an IPO on the 18th of April 2011 with issue oversubscribed nearly 7 times. After the allotment process, Ajman Bank (16%) and Qatar First Development Bank (10%) joined the ranks of the founding shareholders. Watania started underwriting risks on 14th of November 2011. In August 2014 there was a major change in the shareholding structure of Watania whereby MB Investment UAE and Madina Takaful Oman acquired a majority 60% stake in the company from existing shareholders.
Current major shareholders are MB Investment, UAE (51%), Magna Investments (15.90%), Dr. Ali Bin Harmal Aldhaheri (12.17%) and Al Madina Takaful, Oman (9.54%).