#Japan #Tokyo #Insurance #AI service #boshu

Boshu Corporation's Innovative AI Assist Service

Today, Boshu Corporation, headquartered in Shibuya, Tokyo and led by CEO Shoji Tomisaka, announced the official release of its AI-powered assist service, boshu assist, tailored specifically for insurance agents. This new offering aims to support compliance with the Financial Services Agency's directive for customer-centric business operations, as well as the recent amendments to the Insurance Business Act. Furthermore, it seeks to streamline administrative processes for agents, allowing them to focus on delivering optimal proposals to their clientele.

Background of Product Development: Regulatory Pressures and Industry Challenges

The insurance sector is facing increasing scrutiny under enhanced regulations led by the Financial Services Agency, which emphasizes customer-centricity in business operations. As a result, insurance agents are now burdened by stringent compliance obligations such as comparison recommendation duties, as well as information management and record retention requirements. These evolving obligations have created a structural imbalance in the industry, making it difficult for agents to concentrate on providing meaningful value to customers. In response to these challenges, Boshu Corporation established a mission to make insurance security a universal standard, harnessing technology to tackle both the analog operational environment and burdensome profit structures inherent in the industry.

Purpose and Value Proposition of boshu assist: Resolving Trade-offs Between Quality and Profit

boshu assist capitalizes on AI technology to eliminate the trade-offs between 'quality' and 'profit' that affect insurance agency management. The AI-driven service aligns the interests of customers and agents, addressing ongoing inefficiencies in the industry and creating new avenues for value delivery.

Core Benefits of boshu assist:

1. AI-Driven Business Process Automation: With AI taking over non-core activities, the working conditions for agents will witness a significant transformation, boosting both productivity and profitability.

2. Support for Optimal Proposals: Drawing from customer preferences and comprehensive product data from all insurance companies, the AI organizes and presents necessary information, thereby facilitating informed decision-making and proposal drafting for agents.

3. Compliance-Conscious Operations: The AI system aids in ensuring operations align with the latest legal requirements, substantially reducing compliance risks for insurance agencies.

Initial Release: AI-Assisted Quotation Tool Available from February

As part of phase one of the service, the AI Quotation Assistance feature will launch on February 1. This tool will automatically generate quotation documents for automobile and fire insurance from multiple insurers based on customer data and specific conditions.

Key Features:

• - AI Scanning Functionality: The AI can autonomously analyze various documents, from insurance certificates to order forms and property registration records, achieving nearly 100% data accuracy.
• - Automated Quotation Production: In approximately three minutes, the AI can simultaneously operate quotation systems from multiple insurers to compile quotation documents, which are then stored automatically in designated folders.

Supported insurers include Tokyo Marine, Sompo Japan, Mitsui Sumitomo, and Aioi Nissay Dowa. The range of insurance types and affiliated insurers will expand over time.

Distinctive Features:

• - Support for various login methods, including collaborative gateways and direct logins.
• - Desktop application format, allowing agents to utilize it on their own PCs.
• - User-friendly UI/UX design that benefits even agents who are less familiar with technology.
• - Quick adjustments to system changes such as product revisions or modifications in insurer systems.

Streamlined Process:

1. Open the quotation form.
2. Upload certificates or order forms.
3. Select the applicable insurance companies and execute.
4. Start simultaneous quotations for multiple insurers.

By eliminating the traditionally cumbersome and time-consuming manual processes, boshu assist offers several advantages:

• - Dramatic Efficiency Enhancements: Considerable reductions in the time required for quotations, leading to significant savings in labor costs.
• - Accurate Information Delivery & Error Minimization: AI quoting eliminates human error and reinforces compliance.
• - Support for Regulatory Compliance: The tool enables agents to efficiently provide quotations adhering to strengthened regulatory guidelines on recommended sales.
• - Prompt Customer Engagement: Faster and accurate proposals lead to enhanced customer satisfaction.

Through this technological intervention, boshu assist establishes a fair and objective information delivery process, ultimately fulfilling the goal of leveraging technology to enhance customer-centric operations.

Competitive Edge and Future Outlook

The most considerable advantage of boshu assist lies in its ability to execute 'judgment-intensive tasks' via AI—tasks that are often challenging for conventional automation tools. This capability allows for the optimization of core insurance recruitment processes that have been hard to streamline. Boshu Corporation plans to introduce further capabilities supporting various phases of the insurance solicitation process, following the launch of the AI-assisted quotation tool.

About Boshu Corporation

Established with a mission to make the security of insurance a common norm for everyone, Boshu Corporation aims not merely to support insurance agents, but to revolutionize the entire insurance solicitation process through AI technology. The company is committed to ensuring that every consumer can engage in transparent and informed insurance selections. As an InsurTech startup, Boshu endeavors to tackle deeply-rooted industry challenges with innovative technology and strives to create a cooperative future where humans and AI coexist in the insurance sector.

Contact Information

• - Company Name: Boshu Corporation
• - Address: 2F-C Shibuya Dogenzaka Tokyu Building, 1-10-8 Dogenzaka, Shibuya, Tokyo
• - Representative: Shoji Tomisaka
• - Business Focus: Development and provision of AI assist services for insurance agents
• - Mission Statement: To make the security of insurance a common standard for everyone.
• - Corporate URL: boshu.ai
• - Product URL: assist.boshu.ai