Insurance Chatbot Guide 5 Benefits & 3 Use Cases

insurance chatbots use cases

AI-powered chatbots can flag potential fraud, probe the customer for additional proof or documentation, and escalate immediately to the right manager. Want to hear an honest conversation about how customer service can differentiate your insurance company? Deliver your best self-service support experience across all customer engagement points and seamlessly integrate AI-powered agents with existing systems and processes. Things that were hard to understand a decade ago have become accessible, resulting in an increase in the demand for insurance products. Instead of spending weeks completing paperwork, it’s enough to report the claim.

insurance chatbots use cases

One Verint health insurance client deployed an IVA to assist members with questions about claims, coverage, account service and more. This IVA delivered a range of services, even helping members obtain and compare cost-of-service estimates and locate in-network providers. What we found is that chatbots and intelligent virtual assistants (IVAs) are increasingly effective in key areas that require 24/7 assistance and quick responses—which, of course, includes healthcare.


Security and privacy of consumer data are the responsibilities of insurance companies. Chatbots are effective at keeping an eye out for and spotting symptoms of fraudulent conduct, and they can notify both the consumer and the insurer. New customers who are digital natives and have high expectations for how a business handles them have emerged due to generational shifts. Given that one-third of customers said they would think about switching firms after just one instance of subpar customer service, these expectations shouldn’t be taken lightly.

You can efficiently build your own customized insurance bot with Engati. Therefore selling insurance policies is a game of providing the best options for customers in the most comprehensive manner, without wasting any time. If you’re looking for a highly customizable solution to build dynamic conversation journeys and automate complex insurance processes, is the right option for you. Inbenta is a conversational experience platform offering a chatbot among other features. It uses Robotic Process Automation (RPA) to handle transactions, bookings, meetings, and order modifications.

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“Our chatbot end-to-end handles 80% of all queries, leaving room for agents to handle the other 20% of important tickets”, says Ankit Goenka, Head of Customer Experience, Bajaj Allianz General Insurance. Knowing about the different ways an insurance chatbot can augment your website can help you pin down the right one. For a better perspective on the future of conversational AI feel free to read our article titled Top 5 Expectations Concerning the Future of Conversational AI. Health insurance is the number one sector benefiting from this technology. As Co-Founder & CEO of Haptik, Aakrit pioneered the wave of conversational AI starting back in 2013. In April 2019, Reliance Industries acquired majority shareholding in the company in a $100 million transaction making Haptik one of the highest valued AI companies globally.

For example, Metromile, an American car insurance company, used a chatbot called AVA to process and verify the insurance type and the insured property/entity, a physical and eligibility verification is required. We expect an insurance advisor to give proper assistance in account opening, providing information about the policies and quotas, signing the claims, etc.

insurance chatbots use cases

It can assess the query using its intelligent algorithm and fetch appropriate solutions for users. Zurich Insurance uses a Claims Bot on their car and home insurance claims guidance pages. The Claims Bot asks the user a series of questions before either guiding the user to the appropriate pages or connecting them with an available agent.

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Customers dread having to go through the tedious processes of filling out endless paperwork and going through the complicated claim filing and approval process. Chatbots cut down and streamline such processes, freeing customers of unnecessary paperwork and making the claim approval process faster and more comprehensive. There are a lot of benefits to incorporating chatbots for insurance on both ends. Acquire is a customer service platform that streamlines AI chatbots, live chat, and video calling.

It can also facilitate claim validation, evaluation, and settlement so your agents can focus on the complex tasks where human intelligence is more needed. In fact, most insurers find that they can fully automate up to 80% of cases with chatbots. However, when necessary, the bot can also hand over the conversation to a human agent.

Fraud detection

Conversational AI can help insurers to identify and prevent risks before they occur. By analyzing data from various sources, such as weather patterns and social media activity, conversational AI can provide insights into potential risks and hazards, enabling insurers to take preventive measures. Chatbots can also help streamline insurance processes and improve efficiency. This is especially important for smaller companies that may not be able to afford to hire and train a large number of employees. Over the years, we’ve witnessed numerous channels to make and receive payments online and chatbots are one of them. And customers are slowly embracing the idea of chatbots as a payment medium.

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This is a program specifically designed to help businesses train their employees in how to use chatbots successfully. French insurance provider AG2R La Mondiale has a chatbot created by Inbenta using conversational AI. The modern client wants to be able to communicate with companies at any time of the day or night.

40% of respondents cite data protection as a critical factor in their confidence in their insurers. It’s crucial to look for chatbot platforms that can be quickly coupled with internal and external systems because not all technologies on the market use these intricate integrations. In several industries, changing customer expectations have altered corporate practices. Customers now have more options than ever due to the increasing competition among businesses.

insurance chatbots use cases

AI-powered chatbots, renowned for their dynamism in operations and customer service, are also steadily making their mark in insurance fraud detection. So, as we see, under the guidance of AI-powered insurance chatbots, every step of the buyer’s journey – from being led to a loyal, trusting customer – becomes smoother and more satisfying. Moreover, insurance chatbots can execute these strategies while maintaining a customer-centric approach. They don’t come across as being intrusive or pushy but offer well-suited options that add value to the customer’s life.

Seamless Generation Of Quotations And Hassle-Free Sale Of Products And Services

A virtual assistant is supposed to perform the same functions as an advisor, which can be done by back-office integration of company systems. Such intricate integration cannot be performed by every technology in the market. Chatbots are designed and programmed to resolve issues related to the insurance claims of your customers and to track the existing policies. This will not only encourage the customers to make their upcoming payments but also assist them in making the payment through simple and easy steps across the channel preferred by the customer. AI chatbots can make errors, and continuous testing helps to identify these errors. By testing the chatbot regularly, you can identify any errors or issues that may impact the chatbot’s performance and address them promptly.

When a new customer signs a policy at a broker, that broker needs to ensure that the insurer immediately (or on the next day) starts the coverage. It empowers insurers, both big and small, to move beyond just the detection of fraud towards its prevention and prediction. So, whether a customer wants to buy a policy, renew an existing one, file a claim, or just clear some doubts, they can do it around the clock without any delay. The nature of machine learning means it can never successfully predict 100% of situations. This is where the model has been trained with a model of data and can accurately predict outcomes within that model. However, it will not be able to predict with the same level of accuracy when presented with new data.

insurance chatbots use cases

Chatbots can solve these challenges by optimizing the digital customer journey and providing relevant information at each step. With many serviceable areas in insurance processes, they are poised to play an important role across the insurance value chain, including pre-purchase, purchase, customer service, and back-end operations. They offer 24×7 customer service, lower processing time, faster resolution and straight-through processing, leading to increased customer satisfaction. They not only address user inquiries but also handle more complex processes like claim filing and goal setting. Insurers incorporate chatbots into these systems to successfully streamline the customer experience, reap cost savings, and shift processes from reactive to proactive. Using machine learning and artificial intelligence to generate human-like responses to customer inquiries, these algorithms can create a more natural and personalized chatbot experience.

Customers can change franchises, update an address, order an insurance card, include an accident cover, and register a new family member right within the chat window. GEICO’s virtual assistant starts conversations and provides the necessary information, but it doesn’t handle requests. For instance, if you want to get a quote, the bot will redirect you to a sales page instead of generating one for you.

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