The insurance industry has always been a difficult customer. And when it comes to insurance and technology, penetration is pretty slow.

Why?

It is because, unlike the banking sector, transactions in the insurance industry are not anonymous. These are trust-based transactions and are always done in person. So unless they build a robot that can perfectly replicate the personality of a human sales executive, insurance will remain a pencil and paper industry.

And that’s why chatbot technology came to life.

A chatbot can have a conversation with you. A chatbot can understand your requirements. And a chatbot can provide you with smart and rational solutions. So why can’t you sell insurance? Apparently they can now. Consumers are constantly looking for better ways to digitally interact with insurance companies, and insurance chatbots offer exactly that. With personalized experiences and much more. Here’s why they are the future of insurance.

Access existing databases

Is there a database based on digital services that covers the entire population of the world? Test the smartphone. By 2020, 6.1 billion people will have access to smartphones. For insurance chatbots, that means an effortless switch from traditional methods to the automated digital process without a huge investment.

Make the conversation as human as possible

What makes bots so good at conversations? Two words: artificial intelligence. AI-powered insurance chatbots are capable of identifying patterns and analyzing user sentiment in chats. This ensures that conversations are smooth and that user requests are not lost in translation. Studies reveal that people send text messages 5 times more than they call, so it perfectly fits your requirements.

Remove static check boxes

Everyone hates long checkbox forms, right? They are long, winding and ambiguous. Insurance bots make these static checkboxes very simple for users by extracting all the answers in the form of textual questions. Checkboxes are often seen as roadblocks, and employing insurance chatbots can efficiently close multiple sales deals.

Are claims procedures becoming an obstacle? We are going to automate them

One of the biggest problems facing the insurance consumer is the claims process. You don’t need analysis to know that! Insurance companies offer something unprecedented by integrating claims procedures with AI bots. These smart robots can schedule appointments, provide loss-saving recommendations, and reduce any company’s manpower for mundane tasks.

Drive customer engagement

Businesses no longer have to deploy customer service representatives in large numbers. An insurance bot can ease the burden by providing answers to customer inquiries. All the customer has to do is send a text message and the bot stays in the database to provide the corresponding responses in no time.

Insurance chatbots aren’t just an issue on InsureTech’s radar. They are here to transform the entire radar system! Companies have already enjoyed the benefits of insurance robots, and both employees and customers have seen their benefits. Now is the time to expand your potential and see where it takes you. The future is here, live it with insurance chatbots.

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