CUA Health signs contract extension with Flamingo Ai
Flamingo Ai Limited (ASX:FGO) has inked a contract extension with major client, CUA Health Ltd (a subsidiary of Credit Union Australia), to extend its use of FGO’s Cognitive Virtual Sales Assistant, ‘Sam’.
Sam guides CUA Health’s customers through their full health insurance purchase experience and transaction. The insurance provider has been trialling Sam live with potential health insurance customers for the past two months.
Based on encouraging results, CUA Health has decided to bring forward the end of the trial date (12 November) and sign an extension of contract with FGO — inclusive of a monthly subscription fee for the Virtual Sales Assistant for health insurance, effective immediately.
FGO stated in its announcement that the details of the monthly fee are commercially sensitive.
The relationship has considerable potential for FGO’s growing sales pipeline, and validates its technology since CUA is a key player in the small cap’s target insurance market.
During the newly announced extension of the trial, CUA Health will explore opportunities to expand the health insurance pilot of Sam to new sales distribution scenarios and determine whether there may be other future use cases for the tech play within the broader business.
“We have seen some excellent early results from guiding members through the online purchase journey. Sales conversion has improved and Sam is now able to sell policies independently when appropriate to do so,” CUA Health National Sales & Marketing Manager, Richard Martin, said.
“A longer period of analysis, based on the extended pilot, will allow us to seek further improvements in member experience and conversion, plus test the technology in a different environment.”
CUA Head of Digital Innovation, Melissa Witheriff, added: “Exploration of new technologies such as AI and Machine learning are part of our digital innovation strategy. CUA has placed significant focus on investing in innovation and seeking out collaborative opportunities with partners.
“Working with the Flamingo Ai team has enabled our health business to respond to changing consumer expectations through human centred design. By enhancing the online experience for consumers inquiring about health insurance, we’ve created an engaging digital channel to attract new members to CUA Health.”
Chief Commercial Officer and Executive Director, Mark Kehoe, also had something to say about today’s major news, reaffirming that the company’s relationship with CUA has never been stronger.
“The deployment of Flamingo’s technology, and the encouraging results we are seeing, have meant that CUA and Flamingo Ai can now plan where this technology may solve problems and add value across CUA’s broader business,” he said.
“In our experience CUA have proven to be highly innovative and have their own customer’s experience being at the heart of what they do. These shared corporate values make for a strong and exciting collaboration between CUA and Flamingo Ai.”