Artificial intelligence technology has been integrated into the platform. How does it work?
We’ve built an algorithm which learns from brokers’ behaviour. The purpose of doing this is to make sure all the good brokers get as many good deals as possible.
Whenever a lead is assigned to a broker, our algorithm looks at the time it takes a broker to update a status of the lead within our dashboard.
From there, the algorithm learns that, for example, a broker only took five minutes to respond to a lead.
If the broker called the person and updated the dashboard, the algorithm learns that this is a good broker.
Whenever a lead is closed, the algorithm also looks at the consumer’s feedback and rating of the broker.
So if any broker has, let’s say, received 20 five-star ratings and his response rate is really good, he automatically comes into the top list of brokers.
Whenever the algorithm is matching a consumer with the broker, it looks at those things and then based on that, it assigns more leads to that broker.
Why have you developed this technology? What are the benefits?
We wanted to automate the process of lead assignment. The technology will look at which deal a customer has chosen, which postcode they are in, and who is the best broker servicing that particular deal in their postcode, and straightaway it assigns that lead to that broker.
We want the staff to focus on growing the business rather than managing day-to-day things such as matching the leads. This matchmaking is done by the technology, this Al algorithm.
Do you have plans to expand or develop this technology further?
The plan is to expand into predictive analytics because we capture a lot of consumer data, including their postcode, what they’re looking for, etc.
For example, how many people are clicking on the same deal from the postcode 2000? What will happen is that when a new user comes into the platform, our algorithm will know straightaway, because with the geotargeting, that a customer is coming from postcode 2000.
It will instantly display a particular deal to the customer that it knows other users from the same postcode are interested in. The artificial intelligence of matchmaking will then kick in too, and the broker will get the lead.
Atul Narang is the founder and chief information officer at HashChing