The INSURTECH Book

Alexa, Can You Get me an Insurance? A Structured Approach to the Hyped Technology of Voice-Based Assistants

By Tobias Becker

Manager, Diconium Strategy

and Tobias Troendle

Management Consultant, Diconium Strategy

Relevance of Voice-Based Assistants – From Touch to Talk

The rise of voice-based assistants has not occurred unexpectedly. For years, interfaces have been changing to adapt to our habits – from smaller screens over concepts like Amazon’s dash button up to sensors woven into clothes, as Google demonstrates with Project Jacquard. In the hunt for the pole position in every customer’s life, nothing seems impossible. Additionally, messenger commerce is on the rise and will further increase its relevance with a more natural way of closing transactions – especially for younger generations. Fuelled by these trends as well as others like smart home technology in the need for one single control unit and the new possibilities from artificial intelligence (AI), voice-based assistants are on the rise. Furthermore, as we seek to maximize convenience in our homes, there is still room for innovation as touch might not be the all-time best input method.

As companies like Lemonade exemplify by combining AI and messenger technology, innovation is also possible in the insurance sector. Currently, this is almost exclusive to InsurTechs, while established players struggle to foster an innovation culture. For a sector offering consulting-intensive products and dealing with long customer ...