Neptune Flood announced the launch of a digital flood insurance app in ChatGPT yesterday, but the data-driven MGA isn’t the only new name on a growing list of available ChatGPT insurance apps.
A check of the list of insurance apps on ChatGPT yesterday also shows Steadily, offering landlord insurance quotes, and Jerry.ai offering help with car insurance decisions. The trio of insurance apps now appear together with Insurify, Tuio and Experian apps, which first surfaced on the Open AI directory last month, promising to help consumers with insurance questions, to inform them about pricing and direct them towards coverage providers.
Related articles: Insurify Starts ChatGPT App Allowing Consumers to Shop for Insurance; Insurance Broker Stocks Sink as AI App Sparks Disruption Fears
Flood and Landlord Insurance
Neptune, which offers residential and commercial flood insurance (primary and excess) through a nationwide network of agencies, highlighted the fact that the new app allows property owners to get “real-time preliminary Neptune flood insurance quotes directly within ChatGPT.”
In addition to being able to ask questions about flood coverage, ChatGPT users can “receive an instant preliminary quote through a conversational AI experience.”
For Neptune, the app is building on existing direct-to-consumer, real-time quoting infrastructure available at neptuneflood.com and through the websites of its agency distribution partners as an embedded quoting assistant, the company said in a statement.
“We architected our proprietary underwriting system, Triton®, as a modular, API-first underwriting system specifically so it could integrate into new digital environments like ChatGPT,” said Dr. Tom Wexler, Neptune’s Chief Engineer.
In addition to allowing customers to “explore [coverage] options in plain language,” they can “seamlessly transition” from the app to neptuneflood.com to complete their purchases.
“Because our underwriting stack is fully automated and cloud-native, we can extend instant quoting into conversational AI without changing our core workflow,” Wexler said.
ChatGPT Not a Broker; No Binding
The Neptune app description includes a lot of language about what ChatGPT is not—an insurance agent, broker or representative of Neptune Flood—and what customer cannot do using the app, namely, bind coverage.
Among the disclaimers, the app description states:
- “This app provides quote information only. It does not offer advice, recommend coverage amounts, or make coverage decisions.”
- “This quote does not constitute a binder of coverage, an offer to insure, or a guarantee of coverage. Coverage is subject to underwriting review, eligibility requirements, policy terms, conditions, exclusions, and applicable state regulations.
- “If you have questions about coverage, limits, deductibles, or whether this policy is appropriate for your needs, please consult a Neptune agent or other insurance professional.”
- “Quotes are valid for sixty (60) days from the date generated, unless otherwise indicated.
- Pricing, eligibility, and terms are subject to change.”
- “Neptune Flood is not responsible for any reliance placed on information interpreted, summarized, or communicated by third-party AI systems.”
Like the Neptune app, the Steadily app description explains that the app isn’t a place to bind coverage but uses less words to lay out the dos and don’ts. While customers can get “instant insurance estimates” for landlord insurance by entering a property address, they are directed to continue to Steadily’s website to customize coverage and bind a policy.
An illustration showing the monthly average estimated landlord insurance cost for a particular address in Austin notes that the estimate is “based on property data, market pricing and Steadily’s purpose-built coverage for rental owners.”
“Tell us a little more about your property to lock in exact pricing and coverage details,” the illustrative display says with at “Continue on Steadily” button beneath the words, which also promise that the process only takes a few minutes.
While Neptune is an MGA, Steadily’s website indicates that an Arizona-based insurance company and an insurance agency are fully owned subsidiaries of Steadily, Inc.
Car Repairs + Insurance
The Jerry.ai ChatGPT app offers “Car Insurance & Care.”
“Jerry helps you make confident decisions about car insurance and repairs with personalized data from repair shops and insurance providers,” the brief app description promises.
While CM hasn’t seen an official media announcement from Jerry about the availability of the ChatGPT app for either purpose, a LinkedIn post from the company, which is a licensed insurance agency, suggests that the repair estimating capability launched first—about three weeks ago.
“How much does it cost to replace a battery for a 2016 Honda HRV in 95112?” is the question displayed on the app screenshot.
“Repair pricing shouldn’t feel like a guessing game,” the LinkedIn post said. “Jerry aims to make car ownership easier. To bring clarity to more drivers across the country, we’ve partnered with OpenAI to bring our repair cost estimator directly to ChatGPT!” the post said.
This week, clicking on the Jerry app on ChatGPT reveals two screenshot images answering different questions—one about the cost of brake pads and the other about car insurance.
“Jerry, how much should I pay for full coverage of my 2019 Santa Fe?” the insurance question reads with the app returning three quotes for coverage described as “$50K/$100K Bodily injury – $1,000 deductible – Rental and towing included,” and indicating the six more carrier quotes are available.
Leaders of Insurify, the first digital insurance agent to announce the availability of car insurance quotes via a ChatGPT app last month, recently spoke with Insurance Journal about reactions to the announcement, indicating that they don’t envision broad disruption to insurance distributors.
“It will be an evolution,” Insurify Founder and Chief Executive Officer Snejina Zacharia told IJ’s Reporter Chad Hemenway. “I think that everything will just become more automated and simpler, but a lot of the existing interfaces will remain and the existing relationships will continue to remain.”
“People that want to choose a personal experience with their agent or brokers will be doing that,” Zacharia said.
Related article: Insurify’s Founders Discuss Evolution of Insurance Shopping With AI
Users who want full quotes are directed to Insurify’s website, where the platform can connect directly with carriers through API functionality, co-CEO and founder Giorgos Zacharia told IJ. What Insurify has done with the ChatGPT app “shows you what’s possible,” he said. “We are barely scratching the surface.”
