What if the agents get the chance to focus only on marketing and sales while smart systems take care of the repeated tasks? If it happens, the productivity of agents will increase, and the companies can generate more business.
What can chatbots do in the insurance industry?
We recommend insurance companies use intelligent chatbots, developed using Robotic Process Automation (RPA) tools, which take inputs from prospective insurees and do the enrolment process. Filling application forms, validating the information given, providing quotes and premium receipts — all these can be done easily with chatbots. As data entry and calculations are done through automation, it gives leverage for the companies to concentrate on creating innovative marketing strategies, fresh products and thus use their human agents for a bigger goal.
With the advent of RPA, automating repetitive and mundane tasks and placing them in chatbots make them the new-age automation wizards. With Machine Learning (ML) and Artificial Intelligence (AI), chatbots can also help organisations in collecting data, understanding customer behavior and helping them to make decisions logically, quickly and effectively.
The chatbots used to fetch details like Insurance Quote, Eligibility, Process Information, Documents handling swiftly and efficiently. Chatbot users in the industry say these bots have reduced the latency time by 35% in fetching these details to the customers from the back end. Also, they saw an increase in the number of queries handled — a whopping 22% compared to manual support. And with these results, insurers without them should implement it, especially when it comes to customer service and processing claims.
