Revolutionizing Insurance with AI: PRISM by RenewBuy

RenewBuy introduces PRISM, an AI-powered tool that personalizes insurance recommendations based on diverse factors. Aimed at bridging India's insurance gap, it customizes offerings beyond the typical format. PRISM enhances user engagement with precise policy suggestions, promising to reach over a million consumers by FY 26.

New Delhi [India], June 26: In a groundbreaking move, RenewBuy has unveiled PRISM, India's first AI-powered insurance recommendation engine designed to revolutionize consumer and advisor interactions. This cutting-edge tool moves beyond the conventional 'One-size-fits-all' model, delivering tailored, data-driven suggestions to meet unique insurance needs.

PRISM offers hyper-personalized policy recommendations by gauging factors like age, income, and medical history, ensuring coverage matches individual needs. Despite many having insurance, existing policies may not suffice. PRISM enables advisors to align products with specific consumer requirements, providing context-aware advice in health, term, and savings categories.

CEO Balachander Sekhar highlights a crucial insurance gap in India, especially in life and health sectors. With around 700 million individuals ready for insurance yet lacking proper channels, PRISM extends access to semi-urban areas, making insurance more affordable and understandable. The goal is to connect with over 1 million consumers by FY 26, enhancing trust and long-term engagement through customized options.

(With inputs from agencies.)