Insurance Chatbot Example With Increased Sales Conversion
Our chatbot can understand natural language and provides contextual responses, this makes it easier to customers. Gradually, the chatbot can store and analyse data, and provide personalized recommendations to your customers. Let your chatbot handle the paperwork for your policyholders, so all they are left with is informing the chatbot of the nature of the claim, providing additional required details and adding supporting documents. The bot finds the customer policy and automatically initiates the claim filing for them. According to Genpact, 87% of insurance brands invested over $5 million in AI-related technologies each year. 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’.
Semantic similarity in the IntelliBot framework is determined at two levels, namely the word level and sentence level. Word level similarity is determined by a generative-based strategy whereas sentence level similarity is determined by knowledge-based and internet retrieval-based strategies. RGA Central is a convenient client portal that provides a single point of access to exclusive applications and insights. Hemophilia is an inherited disorder that affects the body’s ability to control blood clotting. People with hemophilia often bleed easily and have prolonged bleeding after an injury or surgery.
Conversational AI Use Cases in Insurance
Acquire is a customer service platform that streamlines AI chatbots, live chat, and video calling. Whether you choose to use a simple NPS (Net Promoter Score) survey or a detailed customer experience questionnaire, a chatbot helps you attract user attention and drive more answers than any other method. If you have an insurance app (you do, right?), you can use a bot to remind policyholders of upcoming payments. A bot can also handle payment collection by providing customers with a simple form, auto-filling customer data, and processing the payment through an integration with a third-party payment system.
Simpler to build and maintain, their responses are limited to the predefined rules and cannot handle complex queries that fall outside their programming. And now, insurance chatbots have accentuated the proficiency of these tactics. One of the key areas where AI bots are wielding their transformative power is in automating business processes. Insurance companies are turning to AI chatbots to automate various operations, from customer support, policy management, and claims handling to fraud detection. An insurance chatbot is an AI-driven program designed to replicate human conversations and facilitate user interactions in the insurance sector. It acts as a virtual assistant, providing real-time, automated responses to customer inquiries around the clock.
Modernize Customer Experience With Insurance Chatbots
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. In addition, according to the Verint Contact Center Experience Index report (2019), health insurance providers experience a higher rate of savings for converting members to self-service than other industries.
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