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Chatbot for Insurance Industry With Use Cases & Examples

Insurance Chatbot 4 Online Insurance Challenges and How to Solve Them with a Chatbot by Zevik Farkash

chatbot insurance examples

Nearly all of those (93%) were planning to expand their use of the tech. Another 30% of companies said they’re planning to start using it soon. It is against this backdrop that Conversational AI has emerged as a powerful tool for enterprises to engage and serve their customers. DRUID is an Enterprise conversational AI platform, with a proprietary NLP engine, powerful API and RPA connectors, and full on-premise, cloud, or hybrid deployments. It’s perfect for complete beginners, as well as experienced bot-builders. They persuade your visitors to perform key actions through intelligent conversation.

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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. These research and facts demonstrate the growing impact of AI in the insurance industry and the potential benefits of using Generative AI to enhance operations and improve customer service.


Chatbots gather a wide range of client information and have quick access to it. As a result, it is a lot easier for them to offer personalized service. The less time you spend on fulfilling your client’s needs, the more requests you can manage. One of the major benefits of well-designed chatbots is they can answer questions fast and on point. This technology is used in chatbots to interpret the customer’s needs and provide them with the information they are looking for. Moreover, chatbots may also detect suspected fraud, probe the client for further proof or paperwork, and escalate the situation to the appropriate management.

chatbot insurance examples

But scaling it to meet the true demands of a large insurance organisation, with their many distribution and customer service channels, can be a challenge on another level altogether. It is well known that insurance products can be quite complex to understand. The different types of insurance products available, the right channels to go for purchasing them, quotes, premiums and riders can all be confusing for the customer. Very often, customers admit well after purchase that they are still unsure of the details of what they bought.

Help with Policy Selection

This is due in part to the complexity of insurance products and the risk of making errors if consumers engage directly with the provider. Even today, consumers tend to prefer to engage with agents to make sure they understand all the details of their products, to make sure they are fully covered and that their claims are handled properly. The value of a skilled intermediary with cannot be underestimated, even after consumers learn as much as they can through virtual assistants.

chatbot insurance examples

Zurich, one of the world’s largest and most experienced insurers’, needed a solution to transform their customer care experience and make it as frictionless and easy-to-access as possible. Learn how Haptik’s insurance chatbot seamlessly resolved 70% of Zurich’s inbound customer queries end-to-end. Insurance is often perceived as a complex maze of quotes, policy options, terms and conditions, and claims processes. Many prospective customers dread finding ‘hidden clauses’ in the fine print of insurance policies. There is a sense of complexity and opacity around insurance, which makes many customers hesitant to invest in it, as they are unsure of what they’re buying and its specific benefits. Automate claim processes through conversational AI virtual assistants that simplify the process, end to end, providing a better user experience.

Frequently Asked Questions About Artificial Intelligence CEOs Need to Answer

Despite leading the global market in the number of chatbots, Europe lags in terms of technology advancement. American insurers implement more advanced bots, while European ones provide only basic features for their clients. Overall, most chatbots across the world remain at a basic level, and now insurance companies are investing in enhancing their bots’ capabilities to maximize value for their business and customers. One of the biggest firms in Ireland offering online car, house, travel, and life insurance is The AA Ireland, which was established in 1910 to provide roadside assistance for Irish drivers.

  • This is one of the ways in which an insurance chatbot can help lower the average cost per claim.
  • Since Chatbots store customer data, it is convenient to use data based on a customer’s intent and previously bought products with a higher probability of sale.
  • Nearly all of those (93%) were planning to expand their use of the tech.
  • Whereas the banking focus of Fintech was all about “disruption”, the digital innovation focus of InsurTech is about “rapid evolution”.

The chatbots can also recommend specific insurance plans that meet the customer’s unique needs, preferences, and budget. Helvetia’s digital assistant, Clara, is currently testing the OpenAI’s ChatGPT and integrating its knowledge about insurance. Whenever a question is asked to Clara, the AI chatbot searches for the relevant information on the website and provides an interpretation to the person who asked the question.

Purchase Full Report of Insurance Chatbot Market

Insurance companies can choose how they embrace AI solutions with CognitiveScale’s Cortex AI Platform. It facilitates the creation of AI applications, so clients can easily build models and apps that fit their specific business needs. Within the insurance industry, leaders are turning to CognitiveScale to guide conversations with chatbots, develop promising leads and detect fraudulent claims. helps insurance companies adopt AI with its automated machine learning platform.

chatbot insurance examples

The use of chatbots to automate a variety of insurance-related processes is a logical development of these technologies. Furthermore, there is a surge in NLP technology adoption as artificial intelligence (AI) and machine learning (ML) technologies became more widely used in the insurance industry. However, high implementation and maintenance cost of insurance chatbots hinder the growth of the insurance chatbot market.

Must-have insurance chatbot features

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chatbot insurance examples

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