7 Insurance Chatbot Use Cases + Examples

It took a few days for people to realize the leap forward it represented over previous large language models (known as “LLMs”). The results people were getting helped many realize they could use this new tech to automate a wide range of tasks. As AI advances, it will be able to take on a more significant role within the support team. Today, there are a few key use cases that insurance carriers should leverage AI.

The existing customers that have an account with you will have different questions as compared to a potential customer who’s still learning about the product. This data further helps insurance agents to get a better context as to what the customer is looking for and what products can close sales. In addition to our

AI chatbot,

we offer a Smart FAQ and Contact Form Suggestions that attempts to answer a customer’s question as they type, saving them and your agents time. Userlike helps you make your chatbot an integral part of your insurance team. We are a truly all-in-one solution with AI features you won’t find with many other providers. Zurich Insurance uses a Claims Bot on their car and home insurance claims guidance pages.

Claim Management

But thanks to new technological frontiers, the insurance industry looks appealing. Users can either select the topic they’re interested in from a button menu or type their request directly. AXA Chat asks the user what they need help with, offers explanations of difficult topics and links relevant pages. Some companies even allow direct payment through the bot, being necessary just a few simple integrations. Clients aren’t willing to look for the answer to their questions on your website, and the easier it’s for them, the better. Our four values guide our continued, holistic growth as individuals, as teams, and as a global organization with over 1,700 employees through 25 years of building community one intention at a time.

• Long gone are the days when artificial intelligence was a buzzword, or even just something that was ‘good-to-have’ – it is now very much a ‘must-have’.
• Since then, there has been a frantic scramble to assess the possibilities.
• Sensely’s chatbot-based platform assists insurance plan members and patients with the insurance services and healthcare resources they need when they need it.
• They take the burden off your agents and create an excellent customer experience for your policyholders.
• Most of the communication of new policies between the broker and the insurance company takes place via structured data (e.g. XML) interchanges.

This reduces the number of customers who abandon their purchase due to frustration. This technology is used in chatbots to interpret the customer’s needs and provide them with the information they are looking for. The health insurance chatbot platform offers a comprehensive toolkit for automating insurance processes and customer interactions. Not only the chatbot answers FAQs but also handles policy changes without redirecting users to a different page.

What Is An Insurance Chatbot?

To cope with such a challenge, the government of India worked with conversational AI company Haptik to curate a chatbot to address citizens’ COVID-19 related health questions. A chatbot can also help customers inquire about missing insurance payments or to report any errors. A chatbot can either then offer to forward the customer’s request or immediately connect them to an agent if it’s unable to resolve the issue itself. AdvanceCare customers can clarify questions about insurance and health plans with this automated chat solution, search the medical network offers, obtain information regarding prices, and much more. LivePerson can help you automate many of these interactions with an insurance chatbot that works across the most popular messaging channels without hiring an army of agents.

However, some brokers have not embraced this change and still communicate their new policies via image files. Insurers can automatically process these files via document automation solutions and proactively inform brokers about any issues in the submitted data via chatbots. Chatbots can leverage recommendation systems which leverage machine learning to predict which insurance policies the customer is more likely to buy. Based on the collected data and insights about the customer, the chatbot can create cross-selling opportunities through the conversation and offer customer’s relevant solutions. Recently Chatbots.Studio built a car insurance chatbot to process claims for a UK client. Clients’ request was to automate administrative tasks, customer journeys, and to create a chatbot that can collect rich data from customers as part of an insurance claim.

Makerobos Products

There are things you can and cannot say, and there are regulations on how you can say things. Navigating yourself through this environment will require legal counsel to guide as you build this portion of your chatbot. For instance, a Level 1 maturity chatbot only provides pre-built responses to clearly-stated questions without the capacity to follow through with any deviations. In addition, the chatbot has helped FWD Insurance save $1 million per year in client support costs. The chatbot is available 24/7 and has helped State Farm improve client satisfaction by 7%.

They can rely on chatbots to resolve those in a timely manner and help reduce their workload. Insurmi let customers easily find the best deal on a life insurance policy comparing rates from top US insurers. Insurmi life insurance chatbot use cases – Claims Handling, Sales, Customer Service. Instant messengers like Facebook Messenger or WhatsApp https://www.metadialog.com/ are a part of our daily life and the handy touchpoints with insurance companies. Insurance chatbot provides services in a particularly welcoming manner and with customer loyalty check questions it collects valuable feedback for the brand or services. Claims processing is one of the most important functions of the insurance company.

Kotak Life Insurance (KLI)

Here are eight chatbot ideas for where you can use a digital insurance assistant. A chatbot can support dozens of languages without the need to hire more support agents. Below you’ll find everything you need to set up an insurance chatbot and take your first steps into digital transformation. Therefore selling insurance policies is a game of providing the best options for customers in the most comprehensive manner, without wasting any time. At Kommunicate, we are envisioning a world-beating customer support solution to empower the new era of customer support. We would love to have you on board to have a first-hand experience of Kommunicate.

Insurers will be able to design a health insurance plan for an individual based on current health conditions and historical data. A chatbot for health insurance can ensure speedier underwriting and fraud detection by analyzing large data quickly. It’s possible to settle insurance claims fast with an AI-powered chatbot. That’s why claims settlement is no longer a lengthy and long-drawn process. Thanks to insurance chatbots, you can do damage assessment and evaluation in a super quick time and then calculate the reimbursement amount instantly. You can easily trust an insurance claims chatbot to redefine the way you go about the settlement process.