Top 5 Insurance Chatbot Examples: Most Valuable Use Cases

Chatbots can educate clients about insurance products and insurance services. Phone calls with insurance agents can take a lot of time which clients don’t have or are not willing to waste. At this stage, the insurance company pays the insurance amount to the policyholder. The chatbot can send the client proactive information about account updates, and payment amounts and dates.

AI chatbots can be built to meet a range of needs in both business-to-consumer (B2C) and business-to-business (B2B) environments. Organisations of any size and industry can benefit from live chat software from e-commerce, financial services, travel & hospitality, software & cloud services, healthcare, telecommunications, and media. Automate personalised, intelligent service across every channel and every part of your business with AI-powered customer service chatbots built directly into your CRM. For the last three years, NORA, Nationwide’s Online Response Assistant, has provided customers 24-hour access to answers without having to call Nationwide.

Modern Customer Needs

In doing so, reduce the number of hurdles they face during their sales journey. Using a WhatsApp insurance chatbot, you can automate this process and have the answers sent to your agents. Chatbot.Studio focused on the conversational design and chatbot development. They handle about 7000 conversations per hour on Facebook Messenger, WhatsApp, iMessage, Viber, and Telegram. There are a lot of benefits to Insurance chatbots, but the real question is how to use Chatbots for insurance. In more complex cases, an AI chatbot can act as the first line of defense to gather information from a policyholder before passing it off to an agent.

Customers would then make a decision on what would suit their needs best. Whatfix facilitates carriers in improving operational excellence and creating superior customer experience on your insurance applications. In-app guidance & just-in-time support for customer service reps, agents, claims adjusters, and underwriters reduces time to proficiency and enhances productivity. Also, if you integrate your chatbot with your CRM system, it will have more data on your customers than any human agent would be able to find. It means a good AI chatbot can process conversations faster and better than human agents and deliver an excellent customer experience. Using text message or SMS chatbots for insurance can be a great option to expand your customer service channels, without insurance agents needing to physically be on their phones 24/7.

What can you do with your new AI chatbots for customer service?

No more wait time or missed conversations — customers will be happy to know they can reach out to you anytime and get an immediate response. Even if you haven’t heard the word “chatbot,” you’ve likely come across one while browsing online. Chatbots are computer programs that simulate conversations with customers and answer their questions. If you’ve ever participated in a live chat on a company’s website, you’ve probably interacted with a chatbot. They have been around for a while, but recent developments in artificial intelligence (AI) have brought them into the spotlight. Insurance companies now prioritize the chatbots to deploy them for various use cases and consider it as a great way to gain good ROI.

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. LIMRA’s 2018 Insurance Barometer Study states that 60% of people in the United States were covered by some type of life insurance. If an agent isn’t available to offer a quote or service a claim, the customer simply finds another agency. “In a digital age, many of our customers expect to be able to interact with their insurer online and this pilot has allowed us to gauge interest in this type of innovative and exciting technology.

It is obvious that chatbots can weave superior customer experiences by omitting the need to reach out to personnel or skim through multiple webpages. They can also collect valuable feedback for the brand, product, or even website development. An insurance chatbots for insurance agents chatbot not only bridges the gap between potential customers and your brand but also segments the customer base contextually. The data on user preferences can be instrumental for the sales team to get a clear picture of potential customer needs.

Chatbots can detect inconsistencies in a claim, report fraudulent details and reduce the processing times for validating death certificates by cross referencing government websites. For example,

Geico

uses its virtual assistant to greet customers and offer to help with insurance or policy questions. The user can then either type their request or select one from a list of options. Many times, it so happens that people are lured and trapped by sales agents, which ultimately leads to fraud.

Request a demo from Haptik to learn more about the potential of chatbots in the insurance sector. If you’re looking for a highly customizable solution to build dynamic conversation journeys and automate complex insurance processes, Yellow.ai is the right option for you. With Acquire, you can map out conversations chatbots for insurance agents by yourself or let artificial intelligence do it for you. To create complex sequences and routes, no coding skills are required. SnatchBot is an intelligence virtual assistance platform supporting process automation. Another simple yet effective use case for an insurance chatbot is feedback collection.

According to

Statista,

only five percent of insurance companies said they are using AI in the claims submission review process and 70% weren’t even considering it. As brokers, customers, carriers, and suppliers focus on higher productivity. They also focus on lower costs, and improved customer experience, the rate of change will only accelerate. Obtaining life insurance can be a tedious task, and customers might have a lot of queries to even begin with.

Insurance Chatbot Use Cases (and Why Providers Need AI Now)

The implementation of chatbots provides numerous benefits for the insurance industry. By leveraging AI and natural language processing capabilities, chatbots offer enhanced customer service experiences, 24/7 availability and efficient handling of routine inquiries and transactions. This enables insurance companies to streamline their operations, reduce https://www.metadialog.com/ costs and increase productivity. Can you imagine the potential upside to effectively engaging every customer on an individual level in real time? How would it impact customer experience if you were able to scale your team globally to work directly with each customer, aligning the right insurance products and services with their unique situations?

According to the company, it takes only 2 minutes to get the right quotes using their virtual agent. And it provides the same qualification of service as if you call a live agent. Using an insurance chatbot significantly reduces an insurer’s customer support costs, since a single chatbot can handle the volume of queries that would otherwise require a large customer care staff. Insurance chatbots can be used on different channels, such as your website, WhatsApp, Facebook Messenger SMS and more.