AI Chatbots in Insurance: Key Benefits, Features, and Examples

What is Insurance Chatbots? + 5 Use-case, Examples, Tools & Future

chatbots for insurance agents

This technology is used in chatbots to interpret the customer’s needs and provide them with the information they are looking for. In addition, AI will be the area that insurers will decide to increase the amount of investment the most, with 74% of executives considering investing more in 2022 (see Figure 3). Therefore, we expect to see more implementation opportunities of chatbots in the insurance industry which are AI driven tools. 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. When the conversation is over, the bot asks you whether your issue was resolved and how you would rate the help provided. Users can also leave comments to specify what exactly they liked or didn’t like about their support experience, which should help GEICO create an even better chatbot.

Insurance chatbots can tackle a wide range of use cases across two key business functions – Customer Care and Commerce. The original Instant Messaging platforms used very basic Chatbots to respond to text. chatbots for insurance agents So the chances are that we’ve all used them sometime along our digital journey and just not know about it. Research shows that we only use about about 5 regularly, and half of these are social media apps.

  • Many insurance agencies are deploying chatbots for similar use cases and view it as a profitable investment.
  • You can efficiently build your own customized insurance bot with Engati.
  • Chatbots for insurance come with a lot of benefits for insurance companies.

These details can be used later for improving customer experience, customizing services, offering the right offers, and many more. These chatbots help the customers and prospects compare and purchase the vehicle of their choice with confidence. Health insurance chatbot generally assists the insurance plan members and patients solve their queries and provide the information they need related to their insurance plans. AI chatbots are also proven as a powerful business strategy to engage and serve their customers. Sensely’s chatbot-based platform assists insurance plan members and patients with the insurance services and healthcare resources they need when they need it. Sensely named a 2019 “Cool Vendor” in Healthcare Artificial Intelligence by Gartner.

Let’s Understand What the Features of Insurance Chatbot Is?

Detailed information like tech stack about insurance chatbot case studies go to our portfolio. Insurify – online car insurance shopping platform announced chatbot in 2017. They considered chatbot as an easier way to compare and buy auto insurance right from Facebook Messenger. One has to provide seamless, on-demand service while providing a personalized experience in order to keep a customer.

chatbots for insurance agents

Chatbots are enabled by artificial intelligence that eliminates most probabilities of fraud. Submitting a claim, known as the First Notice of Loss (FNOL), requires the policyholder to complete a form and provide supporting documents. This can be made easier by using a chatbot that engages in a conversation with the policyholder, collecting the necessary information and requesting documents to streamline the claim filing process. Despite these challenges, chatbots can be valuable to an insurance company’s client service arsenal. Many insurers are still unaware of the potential benefits that chatbots can offer.

Einstein Bots API

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 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. Moreover, chatbots may also detect suspected fraud, probe the client for further proof or paperwork, and escalate the situation to the appropriate management. Once the assessment and evaluation of the damage are finished, the chatbot can communicate the amount of reimbursement that will be transferred by the insurance company to the TPA and finally to the policyholder.

chatbots for insurance agents

The time consuming process of submitting and processing claims and waiting for a response can be easily mitigated by a chatbot. You can offer

immediate, convenient and personalized assistance

at any time, setting your business apart from other insurance agencies. Chatbots will also use technological improvements, such as blockchain, for authentication and payments.

HDFC Life Insurance’s Elle Virtual Assitant

Like in the other examples, AVIVA uses a blend of button options and typed inquiries to help customers. It’s a simple setup, but effective at helping the customer find the pages and contact information they need quickly. Health insurance is the number one sector benefiting from this technology. For a better perspective on the future of conversational AI feel free to read our article titled Top 5 Expectations Concerning the Future of Conversational AI.

Before planning your chatbot development, see how the insurance companies already use this innovative tool to engage their consumers. If your chatbot looks too robotic and impersonal, it will frustrate users. Equipping it with ML and NLP capabilities to design a human-centric interface may help personalize the user https://www.metadialog.com/ experience, make interactions and their results more accurate. Interested in the best usability practices to improve the customer experience? Review our 11 TOP insurance website design examples for more insights. Get useful feedback and reviews from your clients to improve your services and product offerings.

Insurance Chatbots: Transforming Your Customer’s Journey with Chatbots

One of the best ways to use chatbots is to increase customer service efficiency and effectiveness. Large insurance companies, for example, may be inundated with customer questions and can’t keep up in a timely manner. Smaller insurance agencies can struggle too, as they may not have the staffing to respond to all questions quickly, especially over weekends, holidays and employee vacations.


To suggest you, SmatBot is the best chatbot platform that can help you in all possible ways by customizing your chatbots and round-the-clock technical support. Additionally, chatbots also take the feedback to check whether they have resolved the issue or not to provide further assistance. Chatbots can easily interact with the customers at any point in time and collect basic and other customer details. 40% of customers say security plays a vital role in trusting insurance companies. In the insurance sector, the data provided by the customers is confidential.

Keep in mind that phone support is still the most preferred customer service channel, but online chat now ranks second, finds Gartner. Chatbots are on the rise, with the number of service organizations implementing them growing by almost two-thirds since 2018, finds Salesforce. Still, there’s a lot more room for adoption, with Gartner finding that only 31% of insurance companies offer live chat or a chatbot on their public sites. When we go with human agents, the conversation is truly conversational. And the customers expect the same with the chatbot because most of the time, they are unaware of who is present at the other end. Boasting, a 100% delivery rate and a 95% open rate, WhatsApp insurance chatbots are the best way to reengage customers.

For now, NLP hasn’t matured enough to let a single bot act like a human in multiple languages. As a result, it can be a problem when developing a chatbot for multilingual countries with numerous dialects like India. Our chatbots offer steady help to clients, quickly handling their concerns, even outside normal work hours.

Customers often struggle because of poor network, incorrect documents, and difficult interfaces. If answers to these questions are not readily available, a customer is likely to drop off. Better qualified leads mean that your sales reps have more actionable information. As more leads generated gives your sales team more deals to close and better pipelines for the future. In short, a WhatsApp Chatbot for Insurance allows companies to automate several offerings. As you don’t necessarily win over customers by having the prettiest website.

chatbots for insurance agents

When a policyholder needs to submit a claim, a chatbot can collect the right data to process the claim. This can include probing for the required documents and –  depending on the type of insurance or claim –  request images or video. By leveraging AI-powered image recognition technology, chatbots can also ask for new pictures or files if a file does not meet requirements. For example, an American car insurance company, Metromile, was able to approve 70-80% of claims immediately after launching its chatbot. While a popular belief about chatbots is that they will make human agents completely redundant, that is not entirely true.

The Global Insurance Chatbot Market size is expected to reach $2.6 … – GlobeNewswire

The Global Insurance Chatbot Market size is expected to reach $2.6 ….

Posted: Tue, 29 Aug 2023 07:00:00 GMT [source]

According to Progress, insurance companies can implement Native Chat to create chatbots for their company smartphone apps, allowing customers to communicate with the chatbot after downloading the app. 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. This means there is a lot of potential for self-service tech, including chatbots.

By 2025 it is expected to reach $1.3 billion, according to Cognizant. Use our powerful insurance chatbots to reshape customer interactions, streamline processes, and help your business growth. Reach out to us today to discover how our groundbreaking chatbot solutions can help you excel in the ever-evolving insurance industry. We develop custom-built AI chatbots specifically designed for the insurance industry. Conventionally insurance agents used to make house calls or even reach out digitally to explain the policy features.

  • Our

    AI chatbot

    uses information from a central knowledge base full of your business data to assist customers.

  • This keeps the business going everywhere and allows customers to engage with insurers as and when they grab their interest.
  • With the evolution of online platforms and channels, customers’ expectations are also at the peak level, and they won’t tolerate a single error from the companies.
  • You will learn how to use them effectively and why training staff matters.
  • From handling more client queries to enabling self-service, to anticipating client needs, there are many benefits to using chatbots for insurance.

In all such cases, chatbots have proved to be an efficient tool for companies to take quality customer information. Because when the customers know the other side is a chatbot, they feel comfortable disclosing that information. Insurance chatbots convert prospects into customers and segment the customer based on factors such as age, preferences, behaviour, interest, and many more. With the evolution of online platforms and channels, customers’ expectations are also at the peak level, and they won’t tolerate a single error from the companies. To fulfil their needs, companies must understand the roadblocks and work on them to be parallel with the changing digital environment. Generally, when they go for insurance providers, they won’t provide complete knowledge because customers spend a couple of minutes understanding the policies; that’s not enough for them to get a complete insight.

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