BEIJING, Nov. 15, 2018 /PRNewswire/ -- Phoenix Finance, a one-stop intelligent investment platform established by Phoenix TV Group, offers top-notch financial products and services, and will launch its new family AI intelligent insurance advisor, "Phoenix Intellinsur", this week at Money 20/20 China, the world's leading fintech conference.
Phoenix Finance Showcases Family AI Intelligent Insurance Advisor ‘Phoenix Intellinsur’ At Money 20/20 China.
At the event, being held in Hangzhou from November 14-16, Vince Zhang, President of Phoenix Finance, has taken the audience on a tour of the new product and shown how AI algorithms can be used to help customers make more reasonable decisions when buying insurance products.
"Phoenix Intellinsur is committed to using technology to help users solve the insurance pain points, which is that users don't know how to make decisions of buying insurance products," said Vince Zhang. "Most of the insurance companies, no matter they are online, or off line are just to sell their own products with little asymmetric information rather than giving a thorough comparison and suggestion which based on the analysis of user's financial needs and preference."
Phoenix Intellinsur is the first application platform that utilizes AI technology to provide neutral, comprehensive and personalized third-party intelligent insurance services for families in China.
Phoenix Intellinsur also provides the most comprehensive demand analysis for Chinese families, using data collection to generate feature portraits that capture clients' core needs. The analysis takes into consideration nearly 100 family-based labels including family background, financial conditions, health status and consumption habits. Such a holistic approach is made possible by the company's AI technology.
Breaking away from traditional sales-oriented distribution models, Phoenix Intellinsur, which doesn't sell insurance policies of its own, is committed to providing unbiased recommendation services. To ensure the integrity of the sample size and richness, its product warehouse stores over 4,000 popular insurance products available on the market for clients to choose from, and the number keeps growing. Underscoring the platform's relentless attention to customers' needs, each insurance product covered by Phoenix Intellinsur has over 110 fixed elements, more than 20 dynamic elements, and more than 100 liability categories.
Phoenix Intellinsur also allows clients to customize insurance schemes to their preferences, creating a personalized customer experience. The original "user intervention program" combines scientific allocation methodology with user preferences in areas such as budget, brand and coverage amount.
Phoenix Intellinsur's intelligent decision engine is powerful and hassle-free. It can simultaneously serve tens of thousands of users, and the personalized configuration scheme can be completed in just 2 seconds, far exceeding artificial customer service in terms of both efficiency and quality.
Vince Zhang also demonstrates the Phoenix Intellinsur's powerful function through a specific example, and comes to a conclusion, that after using their products, insurance fees increased, however, the cost is reduced. "This is the power of AI technology, the user-needs analysis becomes more accurate, thus the user can buy for their own insurance allocation at the lowest price," said Vince Zhang.
The use of our products, increase in coverage of the case, the cost is reduced. This is the power of technology, the user needs analysis more accurate, the final users with lower prices to choose to fit their products."
In addition to insurance, Phoenix Finance offers a broad range of financial services including wealth management, mutual funds, global investment and P2P. Founded by influential media group Phoenix Satellite Television, Phoenix Finance has accumulated more than 8.58 million registered users and more than 83.1 billion yuan of the total transactions by the end of October.
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About Phoenix Finance
Founded by Phoenix Satellite Television Holdings Limited, Phoenix Finance is a one-stop-shop investment platform that provides Chinese investors around the world with top-notch financial products and services. Partnering with top-tier global financial institutions to source desirable investable assets and attaching great importance to the application of big data, artificial intelligent, and the blockchain, Phoenix Finance is able to provide a broad range of wealth management products and customized advisory services that are tailored to the needs of each individual investor. Phoenix Finance's product offerings include P2P, mutual funds, insurances, global investment, wealth management, and so on. Having accumulated 8.58 million registered users, Phoenix Finance is now a leading fintech platform in China.
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