Chatbots: New Sales Agent in Insurance Industry

Chatbots: New Sales Agent in Insurance Industry
Chatbots: New Sales Agent in Insurance Industry
  1. Efficiency and convenience. These virtual agents provide an easy way for consumers to gather information or ask questions about their schedules. They don’t have to wait a day or two (or longer) for an email response — or stay on hold waiting for the next available customer service representative.
  2. 24/7 availability. Most chatbots are available any time of day or night, which means customers can submit a question when most other helplines and agents aren’t available, such as nights, weekends, and holidays. According to Finance Online, 64% of users say the best insurance chatbot feature is the ability to contact customer service 24 hours a day.
  3. Immediate answers. In many cases, when customers have questions, they are looking for answers almost instantly. To prove this point, HubSpot calculated that of the 71% of customers who use messaging apps for customer service, many do so because they want answers quickly — and chatbots may be the answer because of their easy-to-use functionality and availability.
  4. Reallocate employee workload. Insurance chatbots can also free up employees who may otherwise be answering phone calls or replying to emails, which can save time and money. Chatbots can help employees process and manage new claims and handle ordinary tasks such as updating accounts. They can even provide personalized quotes.
  5. Streamline processes. Chatbots can impact and streamline everything from claims to understanding data analysis.
  6. Improve customer relationships. According to HubSpot, the majority of millennials who have interacted with a business’ chatbot say the experience positively impacted their perception of the organization.
  7. Generate leads. When customers interact with a chatbot, they may be expected to fill in basic contact information, such as name and email address. This is a simple, easy way for insurers to generate leads.
  8. Integrate with social media channels. Chatbots can be positioned across channels that consumers use every day. “They accomplish their task, start to finish, in the place where you already spend your time: messaging apps,” according to HubSpot.
  • Process claims. Chatbots can assist with claims questions and payment methods.
  • Gather leads. When customers interact with a chatbot, they may be expected to fill in basic contact information, such as name and email address, which is a simple and effective way to accumulate customer data and generate leads. This information can be passed along to sales teams.
  • Provide education. In many cases, someone will contact an insurer with questions about a product or process. A chatbot can answer questions and provide more information — or direct those inquiries to the appropriate departments or resources.
  • Engage with customers and collect feedback: Chatbots are often faster and more efficient than phone calls and emails. Plus, they offer a way for an insurer to easily compile data on their various customer service inquiries.
  • Free up, employees. Employees can tackle other important responsibilities if chatbots help handle customer service inquiries.
  • According to a 2020 survey, the COVID-19 pandemic 50% of consumers question their medical and life insurance policies, and 75% said that they’d prefer having a conversation before purchasing an insurance policy.
  • Additionally, ±75% said that they trusted chatbots to provide a new or a renewal quote, make a claim, add a member to coverage, and update billing info.

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AI & Deeptech focused technology startup disrupting Fintech, healthcare & Insurance sectors: Reducing Risk, Digital Access, Underwriting, Claims, Fraud & more.

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Artivatic.ai

Artivatic.ai

AI & Deeptech focused technology startup disrupting Fintech, healthcare & Insurance sectors: Reducing Risk, Digital Access, Underwriting, Claims, Fraud & more.

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