Intelligent Insurance Assistant using Conversational AI

Car accidents, natural disasters, and other life-threatening events are unpredictable. Filing a claim during such a time, however, is often a time-intensive, exhausting and emotional exercise. Unsurprisingly then, a large number of calls received from customers are related in some way to the claims process. Chatbots can automate these processes by handling the most common customer questions and by collecting basic information from callers. Human agents can take over for a bot, with a full history of the conversation, when and if needed.

Onboarding new customers is often a cumbersome process. Most insurance agents are stuck working the Quote-to-Cash (QTC) process – an end-to-end process where firms create, price and prepare initial policy quotes and collect “cash” from customers. These tedious, long processes reduce an insurers’ ability to issue new policies and generate additional revenue. With our chatbots, the entire QTC process can be automated – greatly reducing the time needed to onboard new customers and giving insurers the opportunity to focus on finding and closing new deals and launching new products and services.

Insurance policy holders often complain that they can’t understand the jargon used by agents and that the claims process is complicated and tedious. Powered by advanced natural language processing, our bots can help reduce confusion and customer churn by automatically converting complex verbiage into simple, easily understood terms and by walking new customers through each step of a given process.

Human agents are often overwhelmed by the sheer amount of information and customers they must deal with on a daily basis. This information and work overload make it difficult for them to provide high-quality customer service while providing the right information for each customer. Our insurance chatbots can assist live agents and reduce these burdens, by quickly and easily providing the information they need and ensuring the right set of insurance products and services are mapped to the customer in question. Our bots also help improve the lifetime value of a customer by upselling suitable products at the right time based on a customer’s profile and life events.