AIDP – Silver Award-Winning initiative at iKhiến: Early AI integration helps henerate Million-Dollar revenue

Witnessing the difficulties businesses faced during the Covid-19 pandemic, a group of young engineers from FSG.GIS successfully created the Agent Digital Platform (AIDP), an intelligent tool that helps insurance companies operate more efficiently, generating $1.4 million in revenue just two years after its launch.

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In 2021, during the peak of the Covid-19 pandemic in Vietnam, many businesses in the insurance sector found themselves struggling as their operations were severely impacted. Adhering to the government’s “social distancing” policy, employees in these companies could not meet in person, reducing interaction, which led to disruptions in business communication and internal connectivity. A series of complex issues arose: managers faced difficulties in accessing the business results of their subordinates, while sales agents were unable to grasp the business situation of their own units.

Witnessing these challenges, the innovation team from FSOFT decided to develop the AI-Agent Digital Platform (AIDP), a digital management tool integrating artificial intelligence (AI) designed for the sales force of insurance agencies and company managers. After months of nurturing the idea, carefully calculating customer issues, and conducting detailed business analyses, the team successfully created the first version of the initiative in March 2022 and continued to refine and upgrade the product thereafter.

AIDP was designed with two main target groups in mind, offering different functions for each. For insurance agencies, the initiative helps managers and sales staff monitor sales figures and KPIs for the entire team or individual members. Additionally, the product enables salespeople to manage customer information and lifecycle, and supports paperless advertising campaigns and recruitment processes through AI’s automatic filtering. For senior management, they can track sales performance by region or branch, manage strategic company products by month/quarter/year, and access internal company information such as standout employees.

Despite being awarded the Silver Prize at the iKhiến 2024 final round on July 19, with judges praising features such as “unique functionality,” “enhanced efficiency,” “market expansion potential,” and “potential for further development,” the journey behind the product’s creation was filled with hardships. In the first release, the team received negative feedback from customers as the product failed to meet the speed and expectations of insurance sellers.

“There were times when we felt like giving up due to conflicts in ideas. Everyone on the team wanted to deliver the best value to customers, but time constraints, manpower limitations… and the ongoing pandemic posed challenges,” shared Ms. Cao Thi Thanh Huyen about the difficulties faced.

However, the team’s solidarity helped revive their spirits, leading to the risky decision to “tear down and rebuild” the product after carefully reviewing their shortcomings. In the end, their challenging journey brought the initiative to customers. “We were fortunate that three months later, we received numerous demo requests from customers for the product we built,” Ms. Huyen noted.

By early 2024, the AIDP innovation team had successfully deployed the first two modules of the project for two major insurance clients in the market – AIA and Manulife. Every day, AIDP helps companies create over 200 new contracts through the system, closely monitoring and enhancing business efficiency. The recruitment process of client companies has also improved significantly. Surveys show that 86% of recruitment documents were standardized, and the processing time for the entire recruitment flow was reduced from several days to just 3 hours. Senior management now can oversee the entire company’s business activities through reports generated by the AIDP system. These results have led to a 98% satisfaction rate among insurance agencies and $1.4 million in revenue for FPT Software from the two major clients.

Speaking with Chungta.vn, team member Ms. Cao Thi Thanh Huyen revealed the numerous trending technologies applied in this initiative, demonstrating AIDP’s “strength” in the digital management solutions market. Noteworthy technologies include the combination of Big Data and AI, which create the ability to predict sales, analyze customer trends, personalize user experiences, and analyze large datasets. To store and manage customer data, sales figures, and other important business information, the team integrated solutions like PostgreSQL, MySQL (SQL), and MongoDB, Firebase (NoSQL)… An AI-powered “Chatbot” was also integrated into the product to enhance customer support and automate sales tasks effectively.

Moreover, AIDP can optimize sales strategies and analyze customer behavior through Machine Learning technology integrated into the product. Additionally, AIDP stands out from competing applications thanks to its user-friendly interface and seamless integration with existing CRM systems. This makes deployment and usage easier for businesses.

When asked about upcoming upgrades for the initiative, Ms. Huyen revealed that the team plans to incorporate AI into the lead generation process, analyze customer lifecycle stages, and provide fraud alerts; they will also add loyalty features and improve existing functions. The team aims to deliver an insurance business product for the masses, thereby raising the life insurance ownership rate in Vietnam to lead the Asia-Pacific market.