AI-Powered WhatsApp Chatbot For Insurance: How They Work, Use Cases And Must-Have Features


AI-Powered WhatsApp Chatbot For Insurance Use case by ORAI
AI-Powered WhatsApp Chatbot For Insurance

It’s common to associate the insurance industry with hefty paperwork, complex affairs, and legacy processes. So, is there a possibility that WhatsApp AI chatbot for insurance can explain it all easily to customers?


Like every other industry, insurance is also a sector with a huge scope for innovation. When changing customer demands set benchmarks in the market, innovation defines the ability to survive.


Customers have evolved and enhanced their expectations from businesses across various industries. Multiple options available online have made competition denser for businesses nowadays.


According to research by Accenture, 70% of customers won’t mind purchasing insurance even from a non-insurance company. This is because people don’t just look at the product and offerings, but overall customer experience to choose their insurance provider.


New-age consumers now know all about digital technologies and give immense value to brands that treat them well. And after a single bad experience during customer service, 1/3rd of consumers choose to switch companies.


Also, the new normal created due to COVID-19 has made online customer experience a primary parameter for people who are searching for insurance from home and need support from businesses.


With support centers becoming obsolete, insurance businesses are looking for a more scalable solution to make customer service available 24*7, across multiple digital channels, and in various languages along with an assurance of personalized interactions.

While earlier these demands seem impossible to achieve with automation, conversational AI has made it possible with advanced WhatsApp chatbots for insurance companies.


How WhatsApp AI Chatbot for Insurance can Benefit Businesses


Think of a person who wants to buy a policy and reaches your website on his mobile phone. Now, instead of letting that person find all the information on his own, you provide a chat window powered by an AI bot.


Enabled by AI, a bot can deliver better responses than generic chatbots. The conversational ability of a new-age WhatsApp AI chatbot for insurance allows it to stand out. Such bots provide personalized suggestions by detecting customer preferences and intents through natural language processing (NLP), natural language understanding (NLU), and Machine Learning (ML).


Beyond that, omnichannel, multilingual, and 24*7 support are other advantages of using a modern conversational AI platform for insurance to deliver the highest quality of customer experiences.


While most insurance companies assist customers through mobile apps, they have certain limitations. Such apps restrict customer experience to 1 or 2 channels. But customers nowadays use multiple channels and platforms such as mobile phones, messenger apps, smart home devices, and others to communicate across various channels.


When insurance apps fail to deliver comprehensive assistance, customers have to call for specific details, resulting in issues such as time restraints, long waiting durations, unavailable human agents, language barriers, and more.


For these reasons, an AI chatbot for insurance presents the most valuable solution to provide high-quality user experience at lower operational costs.


AI-enabled virtual agents ease the process of managing insurance claims for customers. They can serve across all channels, and understand customer preferences to respond accordingly. Plus, the same bots collect customer insights to help businesses expand their quality of insurance products, services, and support.


In fact, as per a study conducted by Juniper Research, AI chatbots for insurance will positively impact the process of managing insurance claims, saving about $1.3 bn by 2023 in the process.


In a nutshell, it’s the best time to get your insurance business the power of conversational AI.


AI-Powered WhatsApp Insurance Chatbot Use Cases


Here are some of the most valuable use cases of an AI-powered insurance chatbot :