Fair Square Medicare rolls out AI-powered voice agents to streamline and improve the Medicare enrollment process for seniors.
Startup Fair Square Medicare has introduced AI-based voice agents to help seniors navigate the complex Medicare enrollment process. The company is leveraging generative AI technology to build these voice agents, which aim to screen seniors for insurance coverage and enhance the overall customer experience. After successful internal testing, Fair Square Medicare is now offering this technology as an enterprise solution for large insurance distributors and carriers.
Founded in 2020, Fair Square Medicare started as a tech-driven Medicare brokerage, helping older adults find health insurance plans that best meet their healthcare needs. Motivated by the challenges his own parents faced with Medicare enrollment, Founder and CEO Daniel Petkevich has transformed the company into a generative AI lab focused on developing next-generation software solutions for Medicare providers.
In its four years of operation, Fair Square Medicare has grown to serve tens of thousands of customers across all 50 states, boasting a net promoter score (NPS) of 95—far above the industry average of 34. The company also reports a customer retention rate of over 90%.
The newly launched AI voice agents, built on the Vox generative AI platform using GPT-4, are designed to assist in nearly every part of the plan enrollment process. The flagship agent, Sophia, is an AI-powered screening agent that qualifies potential customers before they speak to a human sales agent. Sophia promptly answers calls, asks key questions, comprehends responses, and helps determine coverage eligibility, ensuring seniors are matched with the most suitable Medicare plans. This not only enhances the efficiency of the enrollment process but also allows human agents to focus on qualified leads.