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Gen AI use cases by type and industry Deloitte US

What Is an Insurance Chatbot? +Use Cases, Examples

insurance chatbot examples

You can train chatbots using pre-trained models able to interpret the customer’s needs. AIMultiple informs hundreds of thousands of businesses insurance chatbot examples (as per similarWeb) including 60% of Fortune 500 every month. You can see more reputable companies and media that referenced AIMultiple.

All types of businesses are picking up all types of bots – and for all types of platforms from Facebook to WhatsApp. However, recent advancements allow organizations to use chatbots that require little or no coding. This allows for speedier application delivery and faster value generation since a graphical user interface (GUI) is available to build and configure the bot. No-code deployments are suitable for information-collecting chatbots and those that encourage human interaction. In contrast, low-code chatbots are ideal for organizations that need to add unique features while reducing development efforts.

Allstate Business Insurance Chatbot (ABIE)

When it comes to securing the life, health, and finances of themselves and their loved ones, insurance customers would not want to leave anything to chance. They demand access to detailed information and expert guidance while evaluating plans and policies, in order to make an informed decision. And they also need constant post-purchase support when it comes to making inquiries about their policies or filing insurance claims. The role of AI-powered chatbots and support automation platforms in the insurance industry is becoming increasingly vital. They improve customer service and offer a unique perspective on how technology can reshape traditional business models.

  • Singaporean insurance company FWD Insurance has a chatbot called “FWD Bot”.
  • For example, after a major natural event, insurers can send customers details on how to file a claim before they start getting thousands of calls on how to do so.
  • It’s now possible to build and customize your insurance bot with zero coding.
  • A chatbot can support dozens of languages without the need to hire more support agents.
  • This results in heightened customer contentment and improved retention rates.

It will certainly continue to develop for a long time to come and include new use cases in its repertoire. Around 25% of those affected use this service, which allows them to trigger a payout directly and within just 90 seconds. Clara can also actively help in the event of storm damage, which has unfortunately been a frequent occurrence recently. When the phones are ringing off the hook, Clara assists customers with their damage reports at any time and without any waiting time. Chatbot Clara is based on the open source conversational AI software from «Rasa». The German ERGO insurance company has deployed chatbot «Alfred» on its website.

Streamlined processes

This is where live chat and chatbots prosper; you can proactively approach more potential customers directly on your website to create leads. According to a 2019 Statista poll, 44% of clients are comfortable using chatbots insurance claims, while 43% are happy to purchase insurance coverage. As a result, practically every firm has embraced or is using chatbots to take advantage of the numerous benefits that come with them. Agents will focus on providing relevant coverage and assisting consumers with portfolio management. Such focus is due to the use of intelligent personal assistants to streamline processes and AI-enabled bots to uncover new offers for customers.

insurance chatbot examples

They can also push promotions and upsell and cross-sell policies at the right time. An insurance chatbot is available 24/7 to handhold insurance customers every step of the way. Much like a human insurance agent, the chatbot asks customers questions about their requirements, along with other details.

Using a chatbot system for the automobile insurance sector can help improve user experience and service affordability. Be it in customer acquisition, consulting, support of existing customers or in the service area – everywhere a chatbot offers great advantages for all parties involved. Of course, the round-the-clock availability of the chatbot greatly enhances the benefits of this digital channel. AI chatbots can analyze large amounts of data collected from different sources. One crucial aspect of adopting Generative AI is customer acceptance, and the statistics indicate positive sentiments among customers.

insurance chatbot examples