7 Insurance Chatbot Use Cases + Examples

The client can do both at any time, if necessary, receiving an instant response to the question of interest from a chatbot. Moreover, chatbots may also detect suspected fraud, probe the client for further proof or paperwork, and escalate the situation to the appropriate management. Insurance carriers can use chatbots to handle broker relationships in addition to customer-facing chatbots. Furthermore, chatbots can respond to questions, especially if they deal with complex client requests. This also applies when you need to know how an application is progressing.

This can be made easier by using a chatbot that engages in a conversation with the policyholder, collecting the necessary information and requesting documents to streamline the claim filing process. Around 71% of executives expect that by 2021, clients will choose to deal with an insurance chatbot over a human representative. Insurance has always been a pain in the customer’s neck for a long time. Even with digitalization people still prefer talking to an agent over the phone to using a self-service option.

Conversational AI with no need for data training

But the marketing capabilities of insurance chatbots aren’t limited to new customer acquisition. If you have an insurance app (you do, right?), you can use a bot to remind policyholders of upcoming payments. A bot can also handle payment collection by providing customers with a simple form, auto-filling customer data, and processing the payment through an integration with a third-party payment system. Chatbots are often used by marketing teams to support promotional campaigns and lead generation.

It makes for one of the fine chatbot insurance examples in terms of helping customers with every query. Allie is a powerful AI-powered virtual assistant that works seamlessly across the company’s website, portal, and Facebook managing 80% of its customers’ most frequent requests. The bot is super intelligent, talks to customers in a very human way, and can easily interpret complex insurance questions. It can respond to policy inquiries, make policy changes and offer assistance. Tokio is a great example of how to use a chatbot in providing proactive support and shortening the sales cycles.

Streamlined process

Chatbots are improving the customer experience by helping customers explore and purchase policies, check billing, make payments, and file claims quickly. InsurTech company, Lemonade has reported that its chatbots, Jim and Maya, are able to secure a policy for consumers in as little as 90 seconds and can settle a claim within 3 minutes. In addition, chatbots are available around the clock and are able to work with thousands of users at once, eradicating high call volumes and long wait times.

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