Conversational AI and the Rise of the Automated Insurance Agent
Cognitive AI spending among insurers is expected to rise to $1.4 billion by 2021 with a CAGR of 48%. – IDC
increase in online insurance policy sales by offering personalized recommendations.
of query management processes can be automated with IVAs
decrease in claim handling time.
increase in customer satisfaction ratings by making it easier for consumers to understand confusing insurance terms.
Intelligent, intuitive VAs can help insurance companies be it P&C,Life or Health, better explain complex products to their customers, increase revenue per policyholder by driving brand engagement, and minimize cost to serve.
US-based P&C insurer Allstate is using chatbot ABle to sell commercial insurance products directly to customers and augment routine agent tasks.
Singapore-based Tokio Marine Life Insurance leverages a Facebook chatbot known as TOMI to simplify insurance processes for users. This has resulted in a 63% increase in the average number of conversations per active user.
US-based health insurance provider GetInsured leverages a Facebook Messenger chatbot that helps customers get the most out of their health insurance premiums and make better health plan choices.
See for yourself how our VAs can create engaging and differentiated customer experiences for your policyholders – turning everyday interactions into familiar, personalized and highly informative engagements that will have them coming back for more.
Check out these helpful resources or reach out so we can chat about how your business or organization can benefit from virtual assistants built on the Kore.ai VA Platform.
Kore.ai Bot for Health Insurance: Conversational Coverage with VAs