"When people are making such an important financial decision, they deserve clear, everyday language."
- Kiruba Shankar Eswaran, CEO of Eleos Life
Eleos Life has launched its AI-powered digital co-pilot Theea, which is available to customers based in both the UK and US. Theea has been designed to assist customers with understanding Life Insurance without the 'industry speak'.
"Insurance is often filled with jargon that confuses more than it helps. When people are making such an important financial decision, they deserve clear, everyday language.
"Clarity doesn’t just lead to better decisions, it drives people to act, and that’s what true protection is about," Kiruba Shankar Eswaran, CEO of Eleos Life (pictured), told Protection Reporter.
Theea began as a chatbot assistant answering basic questions, but it has since evolved into a "true co-pilot that helps customers understand policies, work out what’s suitable for their needs, and confidently move through to purchase."
It offers on-demand access to policy guidance based on up-to-date information from proprietary data, as well as multilingual support, translating terms in around 40 languages.
Kiruba revealed that the next phase of development is to make the entire insurance journey possible within the chat experience itself. "This will allow customers to start, pause, and continue conversations across channels like WhatsApp, with a fully personalised experience.
"It could notify you when it’s time to review your policy, or answer questions while you’re on the move. That’s where we are heading: a single, seamless, and fully personalised experience," he said.
Eleos Life piloted Theea with over 5k customers over a two-month period, which showed those who used it were 2.5 time more likely to purchase a life policy.
"Life Insurance is one of the most important financial decisions people can make, but too often it feels out of reach.
"With Theea, we’re changing that by building awareness through clear, jargon-free guidance, improving access with on-demand, multilingual support, and driving engagement by giving people the confidence to explore and choose policies in their own time," Kiruba concluded.
