Chatbots: The Future of Customer Service for Insurance Companies

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Chatbots are becoming popular within many industries. The fashion industry is using them to connect with followers, airlines are using them to help customers book flights, and telecommunications companies are using them for customer service. The use cases for chatbots seem to be applicable for many businesses. Even more importantly,  the consumer support is there: a survey of 6,000 consumers around the world found that nine out of ten consumers would like to be able to use messenger apps to talk to businesses.

Furthermore, AI bots will power 95% of all customer service interactions by the year 2025. With this in mind, it is no wonder everyone is looking to take advantage of this tech.

What is the next industry to put these tools into practice? It’s looking like chatbots for insurance companies are the future for their customer service efforts.

GEICO has an automated insurance agent for better customer service

GEICO has launched an insurance chatbot named Kate, a virtual assistant who will answer your insurance-related questions via text or voice control. You can ask her what your current balance is on your auto insurance, the date of your next payment, access to your policy docs, and more.

The virtual insurance agent lives within the GEICO mobile app and offers quick and personalized answers. She even provides her own personal details when asked.

GEICO’s CEO Pete Meoli stated, "We wanted her to be friendly with a natural interaction. She is always learning from our customers and will be an integral part of enhancing their experiences.” The introduction of such a capable and personalized insurance bot is quite a refreshing approach for an industry that is plagued with slow and stiff customer service.

HDFC uses a chatbot for selecting insurance policies

HDFC Life, one of India’s leading private life insurance companies, launched the country’s first insurance chatbot last year for a two week period. The conversational platform acted as a financial guide to help users pick the best policy for them.

The insurance bot engaged users in a 60-second quiz to offer advice regarding health, tax planning, and retirement. By making this usually-mundane conversation more dynamic and personalized, the HDFC automated insurance agent transformed the nature of insurance buying.

Liberty Mutual employs voice technology for their insurance bot

Liberty Mutual Insurance has offered a slightly different experience by creating a voice-controlled insurance chatbot that pairs with Amazon’s Alexa. This allows consumers to navigate the insurance process just by speaking.

The new Safeco and Liberty Mutual Alexa skill will grant users instant, voice-controlled access to get a quote through Liberty Mutual. The insurance bot can also direct them to a Safeco-appointed independent agent, along with other automated services.

Chatbots for insurance companies have the ability to make the customer service experience both more efficient and enjoyable. In the past, you would never hear someone say they like talking to their insurance provider. Now, insurance chatbots have the ability to change the face of the industry.

To start enjoying the advantages of building your own insurance chatbot, contact Snaps today!

 

Snaps enables Fortune 500 brands to acquire new customers, increase LTV and remove customer service costs through automated chat. Snaps powers automated messaging at scale for Nike, Jordan Brand, Foot Locker, Coty, VICE, Marriott Rewards, Mars, AdAge & more.  With Snaps technology, brands can exceed 65% message open rates, 25% CTR, 4x revenue lift, and reduce service costs by up to 20%.