Improving Health Insurance Chatbots with Conversational AI

According to research, the claims process is the least digitally supported function for home and car insurers (although the trend of implementing tech for this has been increasing). They’re one of the most effective solutions for leveling up customer experience – and the insurance industry could certainly benefit from that. Zendesk Answer Bot is a platform from the contact center software provider that allows building AI insurance chatbots with the Flow Builder.

This saves the customers time waiting for a human agent to start processing claims. The insurance chatbot market is segmented on the basis of type, user interface, and region. On the basis of type, it is categorized into customer service chatbots, sales chatbots, claims processing chatbots, underwriting chatbots, and others. By user interface, it is bifurcated into text-based interface and voice-based interface. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. By analyzing past claims, these chatbots can provide tailored recommendations, helping customers make informed decisions about their insurance policies.

Blanchard insurance

Even with digitalization efforts, 46% of people still prefer talking to an agent over the phone to using a self-service option. This means there is a lot of potential for self-service tech, including chatbots. Based on the Youbiquity Finance report, it was 21% of customers have reported that their insurance providers do not provide any customization.

• Moreover, the pandemic has forced insurance companies to think creatively and innovate to meet the needs of their customers.
• That’s especially useful in times when claims are so numerous  that they make it difficult for policyholders to get through to your call center (e.g. in cases of natural disasters).
• But bear in mind that the AI chatbot is not just a ‘nice-to-have’ tool for insurance companies aiming to tackle fraud.
• 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.

Insurance chatbots have a range of use cases, from lead generation to customer service. They take the burden off your agents and create an excellent customer experience for your policyholders. You can either implement one in your strategy and enjoy its benefits or watch your competitors adopt new technologies and win your customers.

Instant access to policy details via chatbot

Chatbots reduce client frustration by providing an easy and quick manner of getting things done. For smaller companies not quite ready to ramp up their operations, a chatbot can save the time and cost of having to hire and train employees. Nearly 50 % of the customer requests to Allianz are received outside of call center hours, so the company is providing a higher level of service by better meeting its customers’ needs, 24/7. Deploy it wherever you want—website, mobile app, or social channels—it can handle the heat.

The chatbot asks for details such as date, location, and a description of the incident. Chatbots in insurance employ advanced security protocols to ensure the protection of sensitive data. They use encryption to safeguard customer information during interactions. Chatbots can also mask certain sensitive information, such as credit card numbers or bank account details, by displaying only partial information. Claim settlement is usually a long, drawn-out affair, full of paperwork and endless back-and-forths.

How to develop a chatbot for an insurance company?

Today, they can shop for policies online, read reviews, compare offerings of different insurance providers, and even self-service their policies. Though brokers are knowledgeable on the insurance solutions that they work with, they will sometimes face complex client inquiries, or time-consuming general questions. They can rely on chatbots to resolve those in a timely manner and help reduce their workload. For example, Metromile, an American car insurance company, used a chatbot called AVA to process and verify claims. Claim filing or First Notice of Loss (FNOL) requires the policyholder to fill a form and attach documents.

• Insurers don’t have to replace core systems–they can integrate Ushur.
• He claims opening up Messenger is “the most important launch since the App Store!
• His leadership, pioneering vision, and relentless drive to innovate and disrupt has made WotNot a major player in the industry.
• The agent can then help the customer using other advanced support solutions, like cobrowsing.
• Insurance chatbots have a range of use cases, from lead generation to customer service.

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