Better Customer Engagement Using AI-Powered Insurance Bots

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Better Customer Engagement Using AI-Powered Insurance Bots

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AI enabled chatbots are one of the major elements in achieving complete digital transformation in insurance.  Chatbots that can mimic human interactions has the potential to assist customers with the most frequently asked questions and take the work load off of your customer support team while largely reducing their average waiting time for delivering support.

Nuvento can empower you with a Fully Automated Insurance Agent who would alert your customers at the right time before they consider your competition, would alert your customers about premium due dates and diligently provide round the clock support to your customers especially in emergency situations when your customers are stuck with a claim.

According to Juniper Research Chatbots are expected to trim business costs by more than $8 billion per year by 2022. Few reasons why the demand for enterprise chatbot development service is expected to rise in coming years:

  1. Nuvento Chatbots are almost like self-service portals or some knowledge encyclopaedia which can provide precise solutions/quicker resolutions to your customers’ insurance related queries.
  2. Nuvento Chatbots engage customers and avoids call waiting time which would otherwise frustrate customers if they are contacting a human insurance agent over IVR.
  3. Our Chatbots don’t judge your customers, also chatbots are free from cognitive biases. A human agent can irritate a customer but chatbot conversations are pre-programmed and customers feel more valued and respected in comparison to a human agent.

Nuvento ChatBot : Key Differentiators

  1. Provide an Instant quote: Nuvento Insurance bots can provide instant quotes which are customised as per customer requirement without engaging in detailed conversation.
  2. Insurance Premium calculation: Chatbots can easily calculate premium and eligibility based on different criteria. Apart from this, chatbots provide an easy platform to make premium payment process hassle-free.
  3. Advising customers on how to ensure regular savings through multiple policy discounts: Customers who are engaged properly would come back to your brand especially when you offer additional benefits and advise them on how to save regularly.
  4. By being with the customer in traumatic situations: AI chatbots can help the customer proceed with the claim in emergency situations where customer is unable to make a phone call to the insurance co.

Artificial intelligence powered chatbots can considerably speed up claim management and underwriting. According to McKinsey, Chatbots and associated technologies would automate 29% of customer service positions. The equation is somewhat like this:

1 phone representative handles only 1 customer at a time.

1 Live chat agent chats with about 3 customers at a time.

1 chatbot can handle unlimited number of interactions simultaneously.

“In Sales, You Let the Prospect Talk 80% of the Time and You Talk the Other 20%.” Chatbots diagnose customer conversations to find out which is the best suited plan for them, then suggest the best deal; this is a process which human brains are unable to achieve in a limited time. Nuvento AI chatbots help  digitally transform your business and win you repeat sales and brand loyal customers.

Talk to our Experts to know more!