AI in insurance is a game changer. Not only can insurance chatbots make processes simple, quick, and easier for customers, but these AI-enabled chatbots also enable workflow automation and therefore improve agent productivity. That’s why 87% of insurance brands invest over $5 million in AI-related technologies annually. Let’s dive in to see why investing in AI technologies and chatbots have now become a necessity for insurance firms. 

What are insurance chatbots? 

Insurance chatbots are software programs or applications that are specifically designed to help customers engage with insurance companies - including applying for policies, accessing information and making claims - without requiring assistance from human agents. 

Insurance chatbots can be set up to answer frequently asked questions, direct customers ro relevant information and policy guidelines, and offer resources for self-service, 24/7. These chatbots can also gather insights about customer behavior to help insurance providers bridge the gaps in customer expectations and offer personalized support without increasing operational costs. 

What are the benefits of insurance chatbots? 

Available 24/7: Keeping agents available around the clock to provide support to your customers is extremely costly, but deploying chatbots can offer 24/7 support without breaking the bank. If your customers reach out with an insurance query post working hours, chatbots can offer self-service, help you collect customer information and pass it to your agents to take the conversation forward. 

Instant Responses: 69% of customers prefer chatbots for their ability to provide quick replies to simple questions. Insurance chatbots can provide instant resolution to common insurance queries on the application process, premiums, repayment, claim, and more. 

Convenient for customers: Insurance can be a complicated process for many customers. Chatbots facilitate real-time interaction and can be made available 24/7, and in multiple languages to cater to customer queries. This saves customers from asynchronous email loops or long wait queues on the phone and makes insurance support convenient for customers.

Boosts agent efficiency: Insurance chatbots help to reduce employee workload by resolving common queries, assigning queries to relevant teams, collecting customer details, etc without requiring human intervention. With the right setup and integrations, chatbots can even update account details, help customers with the insurance process, and offer a quote based on customer information.

Improves customer experience:  44% of customers have found it comfortable making insurance claims via chatbots. Chatbots are available on your website day and night to interact with your customers and website visitors. This helps bring down your first response time and engage with customers. Chatbots can easily pull up answers from your knowledge base, and helps resolves common queries quickly. 

What are the different use cases of insurance chatbots? 

1. Process insurance claims

 Chatbots eliminates long wait time and automates the insurance claim process. When a policyholder files an insurance claim, chatbots can collect all the necessary documents, data, images, and videos. This saves the customers time waiting for a human agent to start processing claims. 

Once the claim status is updated, chatbots can proactively reach out to customers with an update. This boosts your overall customer support experience. 

2. Offer guidance in the insurance process

 Chatbots automate the insurance process and make it easier for customers and insurance agents. They can answer questions on coverage, claims, and much more. 

Chatbots can collect customer data and also suggest the right insurance plan. This helps customers understand what will be covered under the specified insurance plan in case of need or an accident. Chatbots can easily explain insurance and banking jargon by pulling out information from your knowledge to help your customers understand better. 

3. Generate leads and qualify applications

Chatbots collect basic customer information when customers reach out for support. This information can be passed on to the sales teams to take it forward. You can also add an extra form to collect more information to check if the application qualifies. They could request customers to send additional documents if they missed any. This saves customers from having to wait for the agent to get back with a reply. 

4. Collect customer feedback

Deploying a chatbot is one of the easiest and most interactive ways to collect feedback from customers. You can collect feedback in terms of ratings or comments or ask customers to fill out a feedback survey. 

This information will help improve your customer experience and track your bot performance. 

5. Answer FAQs

Chatbots are quite valuable for resolving commonly asked questions. If a customer reaches out with a common query, chatbots can quickly resolve the issue without having the customers search through the entire knowledge base and bank of FAQs. Customers can get answers to common questions like insurance policies and other common insurance queries. This helps in boosting customer satisfaction. 

Automate insurance policy processes with chatbots 

Health Insurance

Chatbots can streamline your health insurance process and make it easier for customers to find the nearest and best hospitals, health centers, dentists, mental health practitioners, and more. 

Auto Insurance

Automate accident claims, status updates, billing, and paying settlements with insurance chatbots. 

Life insurance

Give your customers quick access to quotes, policy coverage, benefits, and more.

 Build your insurance chatbot with Freshdesk Omni 

Multi-channel support: Customers no longer stick to a single channel for support. Freshdesk Omni chatbots can easily be integrated with messaging channels, including WhatsApp, Facebook Messenger, Apple Business Chat, and more, to offer convenient support across all channels. 

Instant Resolutions: Save your customer’s time by automating common queries and offering quick and precise resolution. It does not just deflect but understands the intent to delight customers by resolving their concerns. 

Conversational Banking: Steer clear from robotic conversations and engage in a conversational experience. Our chatbot engages with customers in small talk to boost customer experience. 

Seamless agent transfer: Customers no longer have to get stuck in an endless chatbot loop. Our chatbot instantly transfers the conversation to a live agent in case of a complex issue. 

Third-party integrations: Bring your third-party apps to Freshdesk Omni. You can easily integrate our insurance chatbot with CRM or other live chat software and have a unified experience. 

Security compliance: A chatbot operating in the banking industry must be security compliant. Our chatbot is security certified by GDPR, Cyber Essentials, and more for a secure and safe transaction. 

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