insurance chatbot use cases

The customer’s time is saved with the use of chatbots, and the consumer receives immediate assistance whenever and wherever they need it. Additionally, businesses can keep their clients by raising customer satisfaction. The customer service personnel is free to concentrate on other important responsibilities. As a result, chatbots save and cut down on time for both customers and businesses.

  • Chatbots can be the link between a customer and an agent when needed to be.
  • With their conversational user interface, chatbots are causing a stir as an intuitive replacement for customer care.
  • A best practice for choosing the digital location of a chatbot is to understand customer needs and service expectations at each online venue.
  • New customers who are digital natives and have high expectations for how a business handles them have emerged due to generational shifts.
  • Most insurance products relate to customers’ demographics such as age, gender, life stages, family size, health conditions and historical purchase preferences.
  • It helps users through how to apply for benefits and answer questions regarding e-legitimation.

For example, they should integrate with document management tools, policy management software, CRM systems to track customer interactions and feed into sales pipelines. Finally, conversational AI bots will also need to connect with claims software. Chatbot deployment will be a priority for insurance carriers with AI Chatbots becoming the leading application of AI in insurance. It is predicted that AI chatbots will take over 95% of customer conversations, including telephone and online conversations.

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Leading French insurance group AG2R La Mondiale harnesses Inbenta’s conversational AI chatbot to respond to users’ queries on several of their websites. And that’s what your typical insurance salesperson does for nurturing leads. Even if the policyholders don’t end up buying your product, it eases them to the idea through a two-way conversation between an agent and the prospect. Not only the chatbot answers FAQs but also handles policy changes without redirecting users to a different page. Customers can change franchises, update an address, order an insurance card, include an accident cover, and register a new family member right within the chat window. GEICO’s virtual assistant starts conversations and provides the necessary information, but it doesn’t handle requests.

insurance chatbot use cases

Tokio is a great example of how to use a chatbot in providing proactive support and shortening the sales cycles. The chatbot currently handles up to two-thirds of the company’s inbound insurance queries over Web, WhatsApp, and Messenger. It serves customers with quotes, policy renewal, and claims tracking without any human involvement. Tour & travel firms can use AI systems to effectively deal with the changing post-pandemic insurance needs and scenarios. They can use AI risk-modeling to assess risk in real-time and adjust policy offerings accordingly.

Service Chatbots Powering Customer Self-Service in the Insurance Industry

Claims settlement is a tardy process to follow which requires the involvement of insurance providers, inspectors, and agents. The process takes around days or more to issue claims, submit and then reach the settlement process. In such cases, the customers constantly follow up with a customer representative or agent to check the claim status but there can be chances of claim requests going unattended. While most customers don’t necessarily want to get insurance, they do so because they know they must. To ensure that any alterations are not viewed as an additional burden, insurance companies must be ready to support clients in performing end-to-end seamless processes in a friendly and secure manner. This data enables insurance companies to provide individualized services and improved quote suggestions that take into account the requirements of each client.

How do you write a use case for a chatbot?

  1. Automate your website support.
  2. Support customers inside the mobile app.
  3. Handle internal helpdesk support.
  4. Chatbots help to collect customer feedback.
  5. Bots help in order confirmation & tracking shipping.
  6. Chatbots handle refunds & exchange requests efficiently.

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 single call. If you have an insurance app (you do, right?), you can use a bot to remind policyholders of upcoming payments.


Unlock the expertise in key topics like Software, Mobile App, Big Data, Blockchain and more. The final cost will be determined on the basis of how advanced the Chatbot application you need. This indicates that the moment has come to put the well-thought-out plans into action. Have an experienced Chatbot development team so that they begin to code and create the most suitable prototype.

insurance chatbot use cases

HR chatbots can be used to whittle down the number of applicants for a job opening to a manageable amount. Read more about the importance of a next-generation conversational AI solution and how Verint is leading the industry forward in this report from IDC. The insurance industry has its own challenges when it comes to conversational AI implementation.

The Scale of Workers’ Compensation Insurance

Chatbots also support an omnichannel service experience which enables customers to communicate with the insurer across various channels seamlessly, without having to reintroduce themselves. This also lets the insurer keep track of all customer conversations throughout their journey and improve their services accordingly. Statistics show that 44% of customers are comfortable using chatbots to make insurance claims and 43% prefer them to apply for insurance. AI chatbots act as a guide and let customers keep in control of their buyer journey. They can push promotions in a specific timeframe and recommend or upsell insurance plans by making suitable suggestions at exactly the right moment.

  • This enables more sophisticated business use cases that go beyond simple customer service engagements.
  • AI chatbots can be used to book flights and hotels quickly and easily for customers.
  • It provides real-time problem-solving opportunities and more major benefits where that comes from.
  • Enhancing customer satisfaction, reducing complaints and interactions, and boosting brand awareness.
  • Beyond just lead conversion, chatbots can assist in delivering faster and more efficient claims management and underwriting process via automation.
  • This information will help improve your customer experience and track your bot performance.

This may involve obtaining explicit consent from policyholders, implementing data protection measures, and ensuring that data is not shared with unauthorized third parties. If Natural Language Processing makes a mistake and reads this as a large family, the chatbot will switch to a workflow for selling life insurance for a larger family. The customer might think they’d been fully understood, which means they may have been misled into buying an ill-suited product. To correctly optimise your workflow, guide your customer through the process. Having this kind of information is reassuring, and helps make the experience as easy and hassle-free as possible. Think back to the last conversation you had with a friend or family member.

Agent assist

Bots can help you stay available round-the-clock, cater to people with information, and simplify everything related to insurance policies. Insurance companies can use chatbots to quickly process and verify claims that earlier used to take a lot of time. In fact, the use of AI-powered bots can help approve the majority of claims almost immediately. Even before settling the claim, the chatbot can send proactive information to policyholders about payment accounts, date and account updates. Chatbots can ease this process by collecting the data through a conversation. Bots can engage with customers and ask them for the required documents to facilitate the claim filing in a hassle-free manner.

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More companies now rely on the artificial intelligence (IA) and machine learning capabilities of chatbots to prevent fraud in the insurance industry. With an advanced bot, it’s virtually effortless to identify customers who file bogus documents and make false claims to squeeze money out of the insurer. Your insurance company can trust the bot to flag potential fraud by asking customers for additional proof of documentation. AI-driven insurance chatbots are virtual assistants trained to simulate human-like conversations and process requests independently. AI chatbots can be helpful in a lot more scenarios than rule-based chatbots. They understand user intent and reply to queries that haven’t been pre-defined.

Can I change the language of this Insurance chatbot template?

Often, potential customers prefer to research their options themselves before speaking to a real person. Conversational insurance chatbots combine artificial and human intelligence, for the perfect hybrid experience — and a great first impression. In a market where policies, coverage, and pricing are increasingly similar, AI chatbots give insurers a tool to offer great customer experience (CX) and differentiate themselves from their competitors.

  • In that case, a chatbot can be programmed to solve that problem quickly and easily.
  • And with different generative AI architectures available, insurers can select the one that is most suitable for their needs.
  • The customer’s time is saved with the use of chatbots, and the consumer receives immediate assistance whenever and wherever they need it.
  • Insurance chatbots can help you understand your policy options, answer your questions about coverage, and even check claims for you automatically.
  • Insurance companies can also use intelligent automation tools, which combines RPA with AI technologies such as OCR and chatbots for end-to-end process automation.
  • As the digital industries grew, so did the need to incorporate chatbots in every sector.

For example, they can explore the various products available, compare prices and premiums, identify the best fit based on their profile and continue to purchase, all by asking questions of the bot. For these types of simpler products, insurance firms are finding it more beneficial to enable the end user with self-service options rather than owning a relationship through agents and brokers. This insurance chatbot is well-known for lead generation and turning up the leads. Once the visitor shows interest, the chatbot can assign an agent to them for further decision making. They recognize hot leads and push them down the sales pipeline through proper customer engagement. It can educate customers on how the process works, suggest the optimal policy options based on the customer’s profile and inputs.

How is chat GPT used in insurance?

ChatGPT and other language models could be used to accomplish several insurance-related tasks, including: Providing automated customer service through chatbots, answering frequently asked questions, and delivering information about policies and claims.


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