{"id":47189,"date":"2019-11-19T18:04:20","date_gmt":"2019-11-19T07:04:20","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=47189"},"modified":"2019-11-25T17:21:54","modified_gmt":"2019-11-25T06:21:54","slug":"tal-announces-regtech-solution-for-phone-based-sales-calls","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/11\/19\/tal-announces-regtech-solution-for-phone-based-sales-calls\/","title":{"rendered":"TAL Announces Regtech Solution for Phone-Based Sales Calls"},"content":{"rendered":"

Life insurer TAL has partnered with Deloitte to deploy a regtech solution which it states is part of its ongoing commitment to ensuring positive consumer outcomes.<\/span><\/p>\n

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TAL’s GM, Operational Risk & Support, Individual Life, Sue Sdregas<\/figcaption><\/figure>\n

Using artificial intelligence and voice recognition, the insurer said the solution will be used on up to 100 percent of its phone-based sales calls and will feed directly in TAL\u2019s quality assurance model and program.<\/span><\/p>\n

It added the solution will be able to analyse call recordings to look for matches to phrases, statements and key words that TAL has identified as potential indicators of risk or poor consumer outcomes. These calls will then be assessed by TAL\u2019s quality assurance program, thereby improving the overall responsiveness and mobility of the program.<\/span><\/p>\n

TAL GM, Operational Risk & Support, Individual Life, Sue Sdregas<\/strong>, says TAL chose to focus first on ways AI can contribute to significant customer benefit and ensure customers are sold the right products for their needs and circumstances.<\/span><\/p>\n

“…we now have voice analytics in full production and deployed on all of our sales calls.\u201d<\/span><\/h6>\n

\u201cWe know it is important that customers choose the insurance they want and understand and this automated quality assurance capability will help us achieve this as well as further strengthen our risk management frameworks,\u201d said Sdregas.<\/span><\/p>\n

\u201cTAL decided to accelerate its work in this area some 18 months ago and as a result we now have voice analytics in full production and deployed on all of our sales calls.\u201d<\/span><\/p>\n

She explained this was just one part of TAL\u2019s end-to-end application of AI in the life insurance process, as it also plays a significant role in several steps of the underwriting process.<\/span><\/p>\n

Editor’s Note<\/span>: Importantly, TAL has clarified that its phone-based sales calls refer to inbound purchase inquiries from consumers; to digital call-backs where people have requested a call from one of its insurance representatives; or to call-back requests from its partner referrals.<\/em><\/p>\n

The insurer confirmed that unsolicited phone-based sales calls form no part of its sales activity and that any sales calls rely on having obtained consent by individuals to receive the calls. TAL also affirmed its support for the proposed regulatory changes to further strengthen industry practices in respect of unsolicited telephone sales of direct life insurance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Life insurer TAL has partnered with Deloitte to deploy a regtech solution which it states is part of its ongoing commitment to ensuring positive consumer outcomes.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,8,5,7],"tags":[],"class_list":["post-47189","post","type-post","status-publish","format-standard","category-company-news","category-compliance-regulation","category-services","category-technology"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/47189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=47189"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/47189\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=47189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=47189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=47189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}