MyChoice Releases First Publicly Available AI with Real-Time Life Insurance Quotes

TORONTO, July 24, 2024 /PRNewswire/ - MyChoice, a Toronto-based Insurtech company, has released an insurance assistant that allows users in the US and Canada to receive real-time life insurance quotes while interacting with an insurance AI assistant through their website. Watch the company's demo video to see how the bot works. This seamless insurance shopping experience is also available through the GPT store in the US and Canada. In 2023, MyChoice was part of the Google for Startups Accelerator, enhancing the company's AI capabilities with access to top talent and cutting-edge technologies.

The company's newly released assistant, integrated with MyChoice's API, represents a significant leap in customer service for insurance. This AI bot is designed to address the need of customers seeking a more personalised insurance shopping experience outside of the broker serviced hours of 9-5. When a customer interacts with the bot, their information is automatically logged into MyChoice's CRM, ensuring a seamless follow-up process by MyChoice's broker partners.

While this AI bot significantly enhances the efficiency of obtaining life insurance quotes, it is not intended to replace licensed professionals. It offers a faster, more convenient alternative to filling out forms where user can ask questions prior to connecting with a licensed professional. As language and text-to-speech models improve, we plan to launch voice enabled versions of our assistant and further integrating our auto and home insurance services.

In our commitment to propelling insurance technology forward, we are excited to announce our upcoming tool, Policy Pilot. Policy Pilot aims to solve significant underwriting, policy-checking, back-book auditing, data and application generation challenges by automating these processes for brokers. Brokers interested in these innovations are encouraged to reach out and connect with us.

Applications for the 2024 Google for Startups Accelerator: Canada cohort are open now through the end of July. The 10-week hybrid equity-free program is best suited for Seed to Series A revenue generating high-potential AI technology startups.

About MyChoice

MyChoice is a Toronto-based Insurtech company that equips brokers and insurance companies with tools they need to excel in operations and client acquisition. Their rate comparison site MyChoice.ca, gives Canadians access to competitive auto, home, and life insurance rates. MyChoice blends their industry knowledge with cutting-edge technologies to build solutions that significantly enhance brokerage and insurance company processes and workflows.

SOURCE My Choice Financial, Inc.