A Touch Of Innovation In Insurance Processing with Insurance Chatbots

Transforming the entire cycle of claims with AI-powered Insurance Bots.

Chatbots in Insurance Industry

Though one of the most critical industries, the insurance sector has been deemed to be the least innovative. Despite experiencing technology disruption, the sector has been a slow adopter of digital transformation and AI. AI application in the insurance industry has mainly been focused on risk evaluation, underwriting, claims management, and customer experience. The major usage of chatbots has been as an Online Agent helping human agents in customer conversion and as 24×7 assistant for customers engaging in direct insurance purchases. However, better usage of AI’s facial recognition capabilities and its ability to track patterns can come in handy for claims analysis, behavioral policy pricing, and will create strategic advantages to early adopters.

Multiple Use Cases of Insurance Chatbots

Jumpstart your Conversational AI Journey with our ready-to-use Insurance Bots.

Risk Evaluation

Leverage the ML capabilities of our BOTs to take control of the data deluge to assess risks with higher accuracy, understand new correlations and

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patterns, get deeper insights, make better predictions, accordingly, customize their plans, and adjust premiums.

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24×7 Assistance To Insurance Shoppers

Handle much larger volumes of insurance shoppers’ queries and offer automated advisory and personalized recommendations. Automate the query management process with our ready-to-use

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chatbots that engage in multi-turn, meaningful conversations, and sentiment analysis and learns from previous conversations.

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Onboarding Assistant

Minimize the time and effort required for onboarding and enable human agents to focus on converting new clients through minimal time

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and hassle costs in the QTC process with our AI-powered Onboarding Assistants that are programmed to automate and simplify tasks.

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Underwriting

Enable insurance executives to move from the detect-and-repair to a predict-and-prevent approach and make accurate, data-driven decisions for a competitive edge by leveraging our

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AI Conversational Assistants that gather data from disparate sources and provides intelligent and personalized insights.

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Chatbots As Live Agent Assistants

Equip human agents with key data and critical insights by taking control of the data deluge and enable them to make impactful, personalized pitches to

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potential clients by employing our AI-powered Live Agent Assistants that are programmed with ML capabilities.

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Claims Management

Automate voluminous, repetitive, and routine queries in the claim process to our Virtual Assistants, built with enterprise-specificity and ML capabilities.

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Reduce drudgery for human agents and bring them in for advanced/ complex queries with the live agents’ hand-off capabilities of our Virtual Assistants.

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Risk Evaluation

Using AI/ML, insurers are able to leverage the data deluge to assess risks with higher accuracy, understand new correlations and patterns, get deeper insights, make

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better predictions and accordingly, customize their plans and adjust their premiums.

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24×7 Assistance To Insurance Shoppers

Conversational bots handle much larger volumes of insurance shoppers addressing queries, automated advisory and personalized recommendations.

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The do this through multi-turn, natural and meaningful conversations, sentiment analysis and learning from previous conversations, thereby automating the query management process.

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Onboarding Assistant

Conversational bots programmed to act as onboarding assistants automate a major part of the process. They reduce the time and effort required for onboarding and

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enable human agents to focus on converting new clients.

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Underwriting

AI gathers data from disparate sources and provides intelligent insights for insurance executives. They can now move from the detect-and-repair to a predict-and-prevent

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approach and make accurate, data-driven decisions for competitive edge.

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Chatbots As Live Agent Assistants

Chatbots with ML capabilities programmed and taught to act as live sales assistants to agents. The chatbots collect, collate and analyze voluminous data from various

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sources, making key insights available to agents pitching to potential clients.

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Claims Management

Conversational bots can be automated to handle voluminous calls in the claims process, often involving repetitive questions. Human agents can step in when

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required and use the full conversation history to handle more complex questions and issues.

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Benefits of Conversational AI in Insurance

Faster Settlements & Optimized Customer Experiences

Ensure faster settlements & optimized, frictionless customer experiences.

Improved risk evaluation with AI/ML making appropriate quotes for different risk groups.

Personalized, customized, and individualized quotes/services and overall customer experiences.

Improved policy sales through meaningful conversations, personalization, faster quotes, onboarding, and processing.

Faster claims adjudication and settlements for enhanced customer satisfaction.

Decreased frauds as AI can collect, analyze, and predict outcomes in advance.

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