LBA backs SentiSum to drive a more customer-centric approach to the insurance sector through AI
SentiSum, a London-based, customer experience IaaS (Insights as a service) AI solution, has closed an investment round from a syndicate of LBA/Angels in The City (AiTC) and other investors including 500 Startups, Ascension Ventures and the London Co-Investment Fund. SentiSum provides an OmniChannel analytics solution leveraging state of the art Artificial Intelligence (AI) and Natural Language Processing (NLP) capabilities enabling customers to accelerate customer intelligence within their business. SentiSum insights help companies gain competitive advantage, improve bottom line and reduce churn.
“Our ultimate goal is to automate and accelerate business intelligence to make our customers smarter, faster,” stated Sharad Khandelwal, SentiSum CEO. “I’m thrilled to have the support of our investors as we expand beyond retail to help customers in the insurance industry as well.” The insurance industry is consistently ranked as one of the worst for customer experience. Customer Experience has become the new competitive battleground for companies in industries that have become commoditized and lack significant differentiation between services and product offerings. Anthony Clarke, LBA Managing Director, comments, “the insurance market often provides a poor experience for its customers. Through its highly developed AI and NLP capabilities, SentiSum has developed tools that can enable insurers to materially enhance these experiences leading to improved outcomes for all.”
SentiSum’s product can process massive volumes of data in real-time to identify key areas of concern for companies and make recommendations for improvement. “By combining customer sentiment across the insurance journey from every customer touch point, SentiSum’s plug and play solution can immediately help to improve customer retention.” says Andy Davies, former Marketing and Insights Director, AXA UK.
Additionally, the platform automates repetitive support processes leading to improved efficiency, customer satisfaction and huge cost savings. This round will be used to further develop the technology, boost sales and accelerate overall growth through global expansion.