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Learn how Insurance Copilot leveraged Skypoint’s AI platform to aggregate information from nationwide ACA plans across 50 states.
Starting, growing and maintaining an insurance business can be incredibly difficult. Generating leads and building a client base are daunting tasks, often requiring creative and motivated efforts.
Insurance Copilot (IC) is an AI Copilot specifically for Affordable Care Act (ACA) enrollment that enables health insurance agents with instant answers about the best ACA plans for their clients.
IC enables health insurance agents with instant answers about the best affordable care act (ACA) eligible plans for their clients, aka ”ACA AI Insurance Agent”
IC wanted to aggregate information from over 50,000 Affordable Care Act (ACA) plans from all major carriers across all 50 states. The training data size is 2.5 billion tokens
IC partnered with Skypoint, a leading AI platform to curate and consolidate all the plan data, train the LLM and enable insurance agents to get instant answers on the right plans for their clients using the power of generative AI.
3 to 6 months is the typical education period to train an agent. With Insurance Copilot, onboarding could be as fast as a week or less.
IC functions as a specialized large language model (LLM) focused specifically on ACA and related policies across the United States. The model is continually updated with extensive information on ACA plans, tailored to each county as defined by tHealthcare.gov. This involves processing a massive amount of documentation to track the various health plans for each county nationwide.
By ingesting this data into the large language model, IC becomes a highly efficient tool for agents, trained to provide detailed and specific answers about health plans in every U.S. county. It assists agents in various tasks, such as summarizing information, comparing plans, and updating coverage changes. IC can handle a range of inquiries, including provider portals, pharmaceutical details, and more, using publicly available data.
It stands out for its precision, accuracy, and speed.
Train & Onboard New Agents
Traditional training methods take about 3 to 6 months for agent training. IC accelerates this process dramatically. This acceleration in training time significantly enhances productivity and reduces the time investment, which is crucial since time equates to money in this industry.
Streamline ACA Enrollment
In the traditional ACA enrollment process, a veteran agent familiar with the industry can complete an enrollment in about an hour for straightforward cases with few prescriptions or medical conditions. However, for more complex situations, the process can be time-consuming, ranging from 2 to 6 hours, or even requiring a follow-up the next day. This extended duration is often due to the need for thorough research across various carrier websites to find the best plan for the client. Independent insurance agents take pride in their unbiased approach, working solely in the client’s interest.
On the other hand, using an AI tool like IC can significantly streamline this process. IC provides immediate answers tailored to the client’s specific needs, allowing agents to complete enrollments much faster.
As for the average number of policies a new ACA agent enrolls in their first year, the range is typically around 30 to 50 applications. However, with the assistance IC, these figures could potentially rise to 100-200 enrollments per year.
IC helps reduce the steep learning curve that new agents often face, enabling them to quickly become proficient and increase their enrollment rates.
New ACA agents enroll around 30 to 50 applications in their first year. With IC, these figures could potentially rise to 100-200 enrollments per year.
