Cavendish Online implements Aveni AI
Cavendish Online, part of Lloyds Banking Group, has partnered with Aveni.ai, the Artificial Intelligence fintech business, to become one of the first protection distributors in the market to use AI technology to help improve the experience for customers.
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Aveni’s Generative AI and Natural Language Processing (NLP)-based technology platform will listen to and learn from all customer calls, enabling Cavendish Online to speed up improvements in the quality of advice and service, as well as helping to detect customer vulnerabilities during a call.
Whilst calls will always be led by an adviser, the Aveni system will be able to analyse a full day’s worth of calls in a matter of minutes, highlighting ways in which service can be enhanced and enabling targeted skills development for advisers, delivering on Cavendish Online’s Consumer Duty commitments.
Rose St Louis, Protection Director at Lloyds Banking Group and CEO Cavendish Online, said:
“Delivering excellent outcomes for all customers is at the heart of Cavendish Online’s mission. Now we can incorporate Aveni’s Generative AI into our processes to provide insight which will help us learn and consistently deliver high quality advice and service to our customers.
“This collaboration marks a significant milestone both for us and for the entire protection market, putting Cavendish at the forefront of AI-driven innovation for financial services distribution, and further demonstrating our commitment and focus on delivering great customer outcomes.”
Andy Johnston, Aveni, said:
“Cavendish Online is making a significant impact in the UK protection market and demonstrates a commitment to innovation and ambition that resonates with our team at Aveni. We have been selected as an AI-partner because of the solutions-based approach of the Aveni platform, combining financial services know-how, with deep expertise in Generative AI and Natural Language Processing.
“The power of Generative AI will be a game changer in this sector. We look forward to working together in partnership to explore further solutions.”