Cre8tek Limited (ASX:CR8)
Imagine logging onto an insurance provider’s website at any time of the day and being greeted by a Virtual Sales Assistant. Her name is ROSIE and she answers all your questions, providing you with the information you need while gradually guiding you towards the product she has calculated will suit you best. Eventually, she even helps you finalise your purchase.
You didn’t have to wait on hold for 15 minutes, request a call back, visit a store, or complete a ‘contact us’ form on a website. You got what you needed in real time so you could make a purchase decision with minimal fuss.
Welcome to the future of automated customer sales and service.
The aim of today’s company is to take the complexity out of financial products by making them more accessible to online customers, with the outcome being increased sales conversion rates. And it is targeting some major corporate customers…
The company is already working with a huge Australian insurer — with assets under management of over $200 billion — to launch ROSIE on its platform.
However, it is the US that has been its main focus thus far. In the US more than $1 trillion is paid in insurance premiums each year and the insurance market itself is said to be worth US$17.7 billion, including 2500 businesses and 176 million consumers.
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It is likely that the financial services sector in Asia, will find the same level of attraction to this company as is occurring in the US and Australia: scalable technology, high level security capability and a first mover advantage in AI.
The company has a $54.3 million market cap and plenty of deals in the pipeline.