Improving Health Insurance Chatbots with Conversational AI

GEICO offers a chatbot named Kate, which they assert can help customers receive precise answers to their insurance inquiries through the use of natural language processing. GEICO states that customers can communicate with Kate through the GEICO mobile app using either text or voice. Chatbots can gather information about a potential customer’s financial status, properties, vehicles, health, and other relevant data to provide personalized quotes and insurance advice. They can also give potential customers a general overview of the insurance options that meet their needs. Conventionally insurance agents used to make house calls or even reach out digitally to explain the policy features. Customers would then make a decision on what would suit their needs best.

Almost all chatbots are built to gather the contact details of the customers with whom the bot interacts. Further, the contact details collected by the chatbot are added to the user database for communication through various mediums. Furthermore, AI chatbots can help insurance companies identify potential fraud and reduce risk.

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Below you’ll find everything you need to set up an and take your first steps into digital transformation. After an accident, loss, or theft, it’s understandable for customers to be anxious or distressed. That’s why, as an insurer, you want to deal with each claim as quickly and seamlessly as possible. Chatbots can help you achieve this and in turn, alleviate customer anxiety.

That said, AI technology and chatbots have already revolutionised the chatbot industry, making life easier for customers and insurers alike. The long documents on insurance websites and even longer conversations with insurance agents can be endlessly complex. It can get hard to understand what is and is not covered, making it easy to miss out on important pointers. Starting from providing sufficient onboarding information, asking the right questions to collect data and provide better options and answering all frequent questions that customers ask. Successful insurers heavily rely on automation in customer interactions, marketing, claims processing, and fraud detection.

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Higher intent scores can be given to leads farther down the buying funnel based on early interactions before they are forwarded to the sales staff as qualified inbound leads. This demonstrates once again how advantageous chatbots are for insurance companies. Instead of reading through the fine print, policyholders can utilize a chatbot as a customer interface to ask questions about their current policies (such as coverage and details) and receive prompt responses. Additionally, they can employ it to report problems, check expiration dates, renew policies and goods, examine invoices, and get information on unpaid insurance premiums. Chatbots can also be used to submit documents, update personal and financial information, and obtain information regarding refunds, cancellations, and discounts. If the issue the customer is facingis more complicated, an AI chatbot can ask the policyholder for the necessary details before transferring the case to a human representative.

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