Intelligent Insurance Assistant Using Conversational AI

An accident or injury can happen to anyone at any time and anywhere. Customers expect your agents to be available when they need them most, whether that be in person, over the phone, or online. Unlike human agents or call center reps, our insurance chatbots are available anytime. In addition, they are unaffected by high call volumes and agent-driven biases, so customers never have to wait. Insurance chatbots can address all kinds of customer requests, such as registering claims, locating a repair center or hospital, checking the status of an existing policy, and more.

On average, a customer spends close to 30 minutes trying to find the right policy that matches their current and future needs. Even after spending all that time researching, customers often still don’t feel confident about their policy decisions. Chatbots and insurance virtual assistants built on our smart virtual assistant platform for insurers understand both the customer’s current and past intent based on previous conversations and purchase history. This helps them recommend the right insurance product that is mapped to their specific, unique needs. Sentiment analysis also allows our chatbots to have natural and empathetic conversations with your customers, helping them feel at ease with their insurance decisions.

Car accidents, natural disasters, and other life-threatening events are unpredictable. Filing a claim during such life-shattering events is often a very time-intensive, exhausting, and emotional process. Unsurprisingly then, a large number of calls received from customers are related in some way to the claims process. This is where chatbots for insurance agents come in. 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 at hand 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 insurer’s ability to issue new policies and generate additional revenue. Using AI, insurance quotes can be assessed and delivered to policyholders more efficiently. With our conversational AI insurance bots, 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 policyholders 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 language 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 ai solutions for insurance providers 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.