Chatbots For Insurance Companies: Top Use Cases

They can also give customers more choices in how they want to communicate, when, from where, and from which device. Conversational AI in insurance makes all of this possible – and even easy. They don’t have to pick up the phone or make a face-to-face appointment with their insurance agent to find answers to their questions. Instead, the chatbot can help them find the correct quote and right product in just a few minutes. For example, a health insurance chatbot can find the best insurance product based on their age, gender, medical history, current health status, and several other factors.

Over time, a well-built AI chatbot can learn how to better interact with customers and answer questions. Agencies can create scripts for their chatbot and teach it to transfer the chat to a human staff member when the visitor has a complex question or specifies that they want to talk to an agent. Yembo instills confidence into the underwriting and claims processes by using AI technology to conduct virtual surveys. After customers take pictures and short videos with their smartphones, Yembo’s AI blends deep learning and computer vision techniques to assess visuals and locate any potential risks. This way, insurance providers gain a better understanding of each property and determine what they can cover. Hi Marley uses an all-around cloud platform to make communication between customers and insurance providers more efficient.

Insurance Chatbot Examples

This reduces the time that a customer has to contact a customer first, and makes a dramatic impact on the overall customer experience. Making use of chatbots in the insurance sector, companies have been able to uplift their services, communication, efficiency, and customer support. So in this blog, let’s dig a little deep into how chatbots for insurance are proving to be advantageous. Where company websites are a common brand touchpoint, they become much more interactive and engaging for users with chatbot integration.

AI-enabled chatbots can review claims, verify policy details and pass it through a fraud detection algorithm before sending payment instructions to the bank to proceed with the claim settlement. One of the major things Hubtype’s conversational apps unique, is their rich elements. These graphical elements such as images, buttons, links and more, go much further than text-only chatbots in providing frictionless customer experiences. Insurance customers are demanding more control and greater value, and insurers need to increase revenue and improve efficiency while keeping costs down. AI chatbots can respond to policyholders’ needs and, at the same time, deliver a wealth of significant business benefits.

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Reminders on WhatsApp help to convert these lost leads into prospective clients. Instead of having your support team flooded with low-level queries, reduce your support volumes by answering these frequently asked questions. It’s unsurprising that customers have queries during the purchase process for insurance. In the example below, a customer is interested in car insurance and the insurance bot is guiding them through the process. Using dynamic logic and deep integrations, a bot can ask your customers questions and use the responses to guide them to a policy that suits them best. Lead Qualification is the process of categorizing a lead that you’ve generated to identify what product or service offering matches them best.

Getting clarity and the support needed along the customer journey is often difficult. This blog about insurance chatbots was originally published in Engati blogs. Moreover, when equipped with an AI-powered recommendation engine, the insurance chatbot can offer personalized policy recommendations to a prospect. By offering them not just general information, but also concrete recommendations, the insurance chatbot increases the likelihood of the prospect exploring the purchase further. Use omnichannel conversational AI robots to collect and process customer feedback automatically and provide a superior customer experience. Provide agents with an omnichannel solution that uses real-time data analysis to identify products closest to customers’ needs.

Reasons to Invest in a Customer Support Chatbot

Chatbot deployment will be a priority for insurance carriers with AI Chatbots becoming the leading application of AI in insurance. It is predicted that AI chatbots will take over 95% of customer conversations, including telephone and online conversations. The insurance chatbots will be so advanced that customers will be unable to ‘spot the bot’.

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