Massachusetts Mutual Life Insurance has patented a method utilizing an AI model to assess a user’s likelihood of redeeming investment funds. Based on a calculated priority score, the system prioritizes communication to encourage users to retain their investments, employing various communication channels. GlobalData’s report on Massachusetts Mutual Life Insurance gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Massachusetts Mutual Life Insurance, Predictive modeling techniques was a key innovation area identified from patents. Massachusetts Mutual Life Insurance's grant share as of July 2024 was 88%. Grant share is based on the ratio of number of grants to total number of patents.
Ai model prioritizes user communication based on redemption likelihood
The patent US12063325B1 outlines a computer-implemented method and system utilizing an artificial intelligence (AI) model to enhance user engagement through targeted communication based on redemption likelihood. The AI model is designed to calculate a priority score that indicates the probability of a user redeeming an asset at a higher amount within a specified timeframe compared to a previous period. This model is trained on historical data reflecting the impact of various interventions on redemption rates. Depending on whether the priority score meets a predetermined threshold, the system either initiates a call to the user or sends an electronic message. The method also includes capabilities for predicting future intervention periods and classifying users based on their association with interventions.
Additionally, the system incorporates mechanisms for continuous improvement, such as re-training the AI model based on known false positive rates. It allows for the assignment of qualified analysts to handle calls, taking into account factors like the priority score, user information, and analyst attributes. The system can also present call instructions to analysts via a user interface, ensuring that communication is tailored and efficient. Furthermore, the electronic messages sent to users can be personalized based on previous interactions, enhancing the overall user experience. This patent represents a significant advancement in leveraging AI for targeted user engagement in asset redemption scenarios.
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