Interactive Insurance Comparison Engine Qorus Innovation in Insurance Awards 2023 - Winner

Insurance industry business landscape is defined by continuous development of the product offer. There is a product development race for even the smallest advantages in the offer. Trying to keep the customers updated, they receive more and more messages convincing them to choose the offer. There comes a price pressure – customers seek the lowest price and being able to find it is positioned as a skill. We want to empower our agents to better serve customers. In such dynamic environment, transferring knowledge in accessible and attractive way is crucial for sales support development. We also observe operational challenges in monitoring the scope of insurance market. Preparation of comparisons is very labour-intensive and time-consuming. They can quickly become out-of-date due to latest product updates. Polish insurance terms and conditions documents often have dozens of pages, what combined with legal-like jargon makes it difficult to quickly compare – even for the professionals with years of experience in the industry. Interactive insurance comparison engine helps to address these challenges. Smart bots scan the websites of 20 insurers 3 times a day and identify whether changes have been made to the T&Cs of 10 types of products. The total number of comparative criteria is 400 and the database is constantly being developed. If a change is identified, the comparison is updated. Users of the comparison tool (our sales support teams) receive notifications about changes, allowing PZU to stay up-to-date with its competitors' offerings. The tool allows users to track advantages in PZU's offerings, as well as identify areas for product development. It is available for the sales support online, 24/7. The comparison engine has a database of T&Cs with an interactive display of specific criteria (via linking). This makes finding specific parts of these documents much easier, and thus we can be sure of the accuracy of the substantive comparison. The process of competitor monitoring and the preparation of analyses has become much faster. We have solved the problem concerning the timeliness of comparisons. Employees of the sales support area received a valuable tool to support effective care of product knowledge. All of this makes it easier to tailor product offerings to customers' needs more efficiently.