7 Use Cases of Insurance Chatbots for a better Customer Experience

In this blog, we’ll thoroughly discuss the several use-cases available for WhatsApp . The insurance industry is now facing rapid digital transformation, while consumer expectations and habits are also changing dramatically. Now, they actively use mobile apps and messaging instead of phone calls and in-person contact with the insurer.

Security and privacy of consumer data are the responsibilities of insurance companies. Chatbots are effective at keeping an eye out for and spotting symptoms of fraudulent conduct, and they can notify both the consumer and the insurer. An insurance cost savings of over $1.3 billion across auto, life, property, and health insurance will be realized by 2023, up from $300 million in 2019, according to a Juniper Study. This is a differentiating characteristic that enables insurance companies to maintain their leadership. Imagine an insurance client searching for a policy quote on their mobile phone late one night while locked at home. A chatbot popup that shows before the in-page search engine asks the user if they need any assistance.

A Brief History of Insurance as a Service

AXA links their chatbot on their Private Customers page and it opens in a new window. A chatbot can also help customers inquire about missing insurance payments or to report chatbots for insurance 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.

Making the claims via website widget or chatbot in messenger provides quick responses without any delays, meanwhile, information is stored in standardized document types. Lemonade, an AI-powered insurance company, has developed a chatbot that guides policyholders through the entire customer journey. Users can turn to the bot to apply for policies, make payments, file claims, and receive status updates without making a https://www.metadialog.com/ single call. SWICA, a health insurance company, has built a very sophisticated chatbot for customer service. GEICO, an auto insurance company, has built a user-friendly virtual assistant that helps the company’s prospects and customers with insurance and policy questions. Feed customer data to your chatbot so it can display the most relevant offers to users based on their current plan, demographics, or claims history.

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They can also give potential customers a general overview of the insurance options that meet their needs. Around 71% of executives expect that by 2021, clients will choose to deal with an insurance chatbot over a human representative. Insurance has always been a pain in the customer’s neck for a long time. Even with digitalization efforts, 46% of people still prefer talking to an agent over the phone to using a self-service option.