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Best Insurance Chatbot Use Cases and Examples for 2023

chatbots in insurance

Insurance giant Zurich announced that it is already testing the technology “in areas such as claims and modelling,” according to the Financial Times (paywall). I think it’s reasonable to assume that most, if not all, other insurance companies are looking at the technology as well. My own company, for example, has just launched a chatbot service to improve customer service.

chatbots in insurance

It is no surprise then that voice AI is seeing the fastest growth with the global chatbot market expected to grow by a CAGR of 24.3% by 2025. Innovating your agency’s approach to marketing and customer service can build stronger relationships between providers and policyholders resulting in loyalty and advocacy for your business. With recent advancements in generative AI, conversational chatbots can now generate very human-like interactions. Popularized by ChatGPT, these bots are capable of producing unique content simulating any of your customer advisors. Chatbots are just one more innovative tool insurers can use to meet customer expectations and deliver the service their customers have come to expect. This is one of the ways in which an insurance chatbot can help lower the average cost per claim.

The Benefits of Conversational AI for Insurance Companies

The standard for a new era in customer service is being set across the board, and the insurance industry is not exempt. Sectors like digital technology and retail brands are on the front lines of new methods and advancing tech, and as consumers grow accustomed to fast, personal service, expectations mount in other industries. Use omnichannel conversational AI robots to collect and process customer feedback automatically and provide a superior customer experience. Provide agents with an omnichannel solution that uses real-time data analysis to identify products closest to customers’ needs.

So the chances are that we’ve all used them sometime along our digital journey and just not know about it. Nearly 50 % of the customer requests to Allianz are received outside of call center hours, so the company is providing a higher level of service by better meeting its customers’ needs, 24/7. With Acquire, you can map out conversations by yourself or let artificial intelligence do it for you. SnatchBot is an intelligence virtual assistance platform supporting process automation. Chatbots create a smooth and painless payment process for your existing customers. The chatbot is available 24/7 and has helped State Farm improve client satisfaction by 7%.

Top Generative AI chatbot use cases in the insurance industry

Automate accident claims, status updates, billing, and paying settlements with insurance chatbots. One of the major things that make Hubtype’s conversational apps unique, is their rich elements. These graphical elements such as images, buttons, links and more, go much further than text-only chatbots in providing frictionless customer experiences. Chatbots enable insurers to scale complex use cases, automate claims, and provide frictionless customer experiences.

chatbots in insurance

However, the impact that insurance chatbots can have on the customer experience especially in providing immediate help around insurance claims or approvals is quite high. Once their query has been resolved, chatbots make it simpler for policyholders to provide insightful feedback on your insurance offerings and customer service. Additionally, policyholders demand the ability to file grievances online.

User responsive platform

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