Chatbots For Insurance Companies: Top Use Cases

Last but not offering self-servicing opportunities to new prospects and existing customers for probing their insurance requirements, they generate more leads resulting in more sales conversions. In this respect, we must not forget about the ease of embedding conversational AI in websites or mobile apps. These embedded AI bots can work like a personalized sales tool that just through conversation can amass customer data relevant for making further policy recommendations or alternative insurance policies. This is also because AI bots are least intrusive and so affront no biased or predetermined resistance from the customers. More importantly, they are more apt for addressing the objections with insight-driven narratives based on customer data. The fairly objective and data-driven insights coupled with the narrative-building ability can make conversational AI a better advisor for insurance sales.

• This information will help improve your customer experience and track your bot performance.
• In essence, AI bots act as your ‘digital salesforce,’ functioning tirelessly to generate quality leads while optimizing time and effort.
• Chatbots for insurance come with a lot of benefits for insurance companies.

Hubtype’s insurance partners are able to resolve claims 5x faster, and reduce contact centers calls by up to 50%. To learn more about how natural language processing (NLP) is useful for insurers you can read our NLP insurance article. If you are ready to implement conversational AI and chatbots in your business, you can identify the top vendors using our data-rich vendor list on voice AI or conversational AI platforms.

Chatbot for HR

But, even with this high demand, chatbot use cases in insurance are significantly unexplored. Companies are still understanding the tech, assessing the chatbot pricing, and figuring out how to apply chatbot features to the insurance industry. Currently, their chatbots are handling around 550 different sessions a day, which leads to roughly 16,500 sessions a month. In fact, people insure everything, from their business to health, amenities and even the future of their families after them.This makes insurance personal.

Based on the different queries and inputs provided by the users, the bot can segment different and provide them with relevant quotes and information. This data can be instrumental for the sales team as they have the full context of what a potential customer is looking for and proceed accordingly. Beyond that, WhatsApp chatbots for insurance can tell clients about policy details along with quotes. It also allows instant premium payments within the platform as per the policy plan selected by a customer.

Chatbot for Property Insurance

They are no longer willing to wait on the phone or online for a customer service representative. Conversational AI can provide insurers with valuable insights into customer behavior and preferences. By analyzing data from conversations with customers, insurers can gain a deeper understanding of their needs and pain points, and use this information to improve their products and services.

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