4 Use Cases of Insurance Chatbots for a Compelling Customer Experience

Starr Insurance Offering Travel Insurance Through Facebook Messenger Chatbot in Hong Kong

chatbot insurance claims

Almost a year into the release of ChatGPT and the practical business use cases are starting to emerge. We cover some of these in today’s issue, such as chatbots and assessing claims. But generative AI isn’t just about extracting information or creating human-like responses to clients’ questions. AI chatbots can generate quick insurance quotes based on customer inputs, enabling potential clients to get a sense of costs before committing to a policy. Shift Technology delivers the only AI-native fraud detection and claims automation solutions built specifically for the global insurance industry. Our SaaS solutions identify individual and network fraud with double the accuracy of competing offerings, and provide contextual guidance to help insurers achieve faster, more accurate claim resolutions.

As much as offering live chat benefits the customer, you should also pay close attention to your web analytics. By analysing data and customer behaviour, businesses can learn how and when to proactively start a chat with a website visitor. For many, picking up the phone to discuss something quite personal could be too much of a hurdle. The live chat offering can provide a tool to enable people to have the confidence to start their conversation. In this fast-paced digital world, what differentiates a brand is its customer service. A massive shift in customer behavior is noticed during the outbreak of Covid.

Web Chat for Insurance

Additionally, Capacity, an AI-powered support automation platform, is helping insurers improve efficiency and customer satisfaction. It aids in customer communication, enterprise search, and employee assistance, thereby catering to the interests https://www.metadialog.com/ of both the company and the clients. In 2019, PwC published an article which revealed that the influence insurance chatbots can have on the customer particularly in providing instant relief around insurance claims or approvals is quite high.

By leveraging AI chatbots, insurers can streamline processes, simplify claims, and ultimately increase customer satisfaction. These are not isolated instances but are indicative of a larger trend in the industry. The ongoing implementation of AI chatbots in the insurance industry represents the dawn of a new era characterized by automation, enhanced efficiency, and improved customer care. AI is the driving force that can effectively steer insurance companies toward the future, reshaping the industry in ways that were hitherto impossible.

Future Prospects of AI Chatbots in Insurance

Whilst ChatGPT isn’t perfect, neither are humans, both will err, but those who ignore it will struggle for divine forgiveness. For self-service to work effectively, it must replicate what a great Customer Service agent would do to provide a seamless user experience. An agent will have access to many different applications where they can retrieve information, follow chatbot insurance claims processes, perform transactions, update the relevant systems and record the interaction. Chatbots are able to deflect a huge percentage of inbound calls and webchats from ever reaching the Contact Centre Agent by automating simple, repetitive queries. The information gathered via the chatbot enables intelligent call routing, and reduced average call handling times.

chatbot insurance claims

For this reason, many urge caution when dealing with ChatGPT, or its close relatives, Bard or Bing Chat for example. In its current format it cannot be relied on to generate any text with 100% accuracy… but it’s getting there. We’ve already outlined why firms are going to need to act like startups in order to maximise agility, adopt hybrid working and respond quickly to changes in the environment. Plus you can set rules that will ensure you ‘re always compliant with the relevant legislation. Virtual assistants are also highly scalable and therefore perfectly suited for coping with unpredicted spikes in demand. Whether you’re due for renewal or just not sure you’re getting the best deal from your current broker, let us know.

Compare business insurance

A new breed of “InsureTech” startups like Lemonade and Trov are putting legacy companies on alert. In this episode Peter is joined by ChatGPT, an AI chatbot developed by open AI, and they will be exploring ChatGPT’s views on insurance. If an actual customer service representative (CSR) needs to step in, they are already equipped with all of the pertinent information about the customer account and the problem at hand.

chatbot insurance claims

With the power of AI, customers can resolve issues without needing to reach your contact centre agents. From general FAQs to application or form submissions and payment transactions, AI powered chatbots enable customers to self-serve so that your contact centre agents can focus on customers that need extra support or have more complex enquiries. ‘Guide’ chat bots and ‘conversational’ chat bots differ in their coding and purpose. Conversational chat bots, which require a diverse machine learning process, have around a 30-40% rate for answering customer queries successful, says Simon Harrow to InsuranceAge.

When integrated with the CRM, an AI-powered assistant can access customer profiles and purchase histories to recommend the policies customers are likely to buy. Thus, businesses can provide personalised information and quotes along with custom recommendations for every product based on product interests and purchase history. Our AI powered platforms are trained to access the information required to answer customer queries from documents, knowledge bases, databases, product manuals, business applications such as CRM & Service Desk. Machine Learning allows the chatbot to continuously improve from customer interactions. There is no better service than a well-trained real individual who can fully understand and direct customers. With AI chatbots learning and improving with each interaction, they will play an increasingly larger role in automating tasks and providing personalized interactions.


Zara was released into the wild on the same day as the Beast from the East hit the UK. With large parts of the country covered in snow, many customers were facing fallen-in ceilings, burst water pipes, broken boilers and flooding damage. It was up to Zara to help fight the Beast and relieve Zurich’s dedicated customer service teams. This significant achievement represents a paradigm shift in claims processing and serves as a testament to Lemonade’s unwavering commitment to customer-centricity.


Chatbots can guide customers through the claims process, providing step-by-step instructions and clarifying any doubts they might have about required documentation or next steps. AI-powered chatbots can interactively walk customers through various cover options, helping them understand what each type of cover entails and how it aligns with their needs. Chatbots can interpret complex insurance jargon and explain policy terms in simple language that customers can understand. Varma evaluated the chatbot options on the market and, for 2018, chose to implement a LeadDesk chatbot in their chat to resolve recurring issues automatically and to provide a 24/7 service to their customers.

What are the benefits of insurance chatbot?

AI-enabled chatbots can streamline the insurance claim filing process by collecting the relevant information from multiple channels and providing assistance 24/7. This eliminates the need for multiple phone calls and waiting on hold, and it can also help to prevent claims from being delayed due to missing information.

A virtual agent insurance chatbot can begin investigating who the customer is and what their issue consists of as soon as a conversation is initiated. In some cases, the virtual agent bot can help resolve the problem without escalation. Claimants can streamline processes via remote claims handling, including video-conferencing with claims specialists and image-based documentation provided via a customer’s mobile device. TAs the way insurance is marketed, underwritten, and sold has changed, insurers now have more data on their customers than ever before. As reported by the Financial Times, the insurer is feeding its last six years of claims data into the AI chatbot to identify the specific causes of loss across claims to improve underwriting.

Navigating the rising cost-of-living: The Payments Association calls for cohesion on financial inclusion

Use staff and friendly customers to test workflows on the web pages and get feedback. In processes that use speech, different staff members can call into the test number and speak with the service and ensure it understands all words, phrases and dialects and retune as necessary. The more you use the AI solution, you’ll find new ways to customize it to benefit your business. This way, iovox Insights will keep getting more powerful and help you boost your customer service. Your Insurance Chatbot can be live and supporting your customers in as little as 4 weeks.

How life insurance companies can leverage chatbots – Insurance … – Insurance News Net

How life insurance companies can leverage chatbots – Insurance ….

Posted: Thu, 22 Jun 2023 07:00:00 GMT [source]

What are the benefits of insurance chatbot?

AI-enabled chatbots can streamline the insurance claim filing process by collecting the relevant information from multiple channels and providing assistance 24/7. This eliminates the need for multiple phone calls and waiting on hold, and it can also help to prevent claims from being delayed due to missing information.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top