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Conversational AI in Insurance: Key Benefits & Solutions.


ORAI'S BLOG ON Conversational AI in Insurance: Key Benefits & Solutions.
Conversational AI in Insurance

The insurance industry is one of the most traditional sectors you can think of. But the digital wave has already changed the way many people buy insurance policies.

The insurance industry has historically been slowly adopting the digital age, and insurance buyers are still looking for a lot of traditional services.


According to a Juniper Study, the use of conversational AI chatbots for insurance will lead to cost savings of almost $1.3 billion by 2023.


Owing to the rising demand for 24*7 customer service, insurance companies are taking different approaches to bring down costs and improve their customer service. One of the most widely used mediums for customer service is the text messaging platform.


Why use WhatsApp for Insurance?

With the help of AI-based chatbots, Insurance companies can optimize their customer service, reduce operational costs, and improve the overall customer experience. Insurtech is the application of technology in the insurance sector. Insurtech enables insurance companies to use tech to provide better customer service, automate processes, and transact at a lower cost.


Key Benefits Chatbots in Insurance

Chatbots are in use in many sectors nowadays. The use of chatbots in the insurance industry is not something new. Below are the key benefits of the Insurance sector with the implementation of ORAI.

  • Policy Enquiry

AI bot to instantly address all policy inquiries.

  • Comparing Policies

Help customers choose the right policy.

  • Buying a Policy

Automate policy buying through AI assistance.

  • Calculating Premium

Enable immediate premium calculation.

  • Insurance Advisory

Smart AI bot to give personalized insurance advice.

  • Insurance Renewal

Cross-sell & up-sell insurance policies with AI bot.

  • Payment Assistance

Send payment reminders and assist with payment processing.

  • Knowing Customers

Conversational intelligence learns customer preferences and intent.

  • Feedback & Reviews

Automate a friendly way of collecting reviews and feedback.

  • Conversational Claim

AI chatbot for 100% claims to file automation to ease your business process.

  • Real-time Lead Qualification

AI that qualifies lead information instantly while interacting.

  • Customer Engagement

Convert leads into sales faster with omnichannel AI engagement.


Solutions Possible with WhatsApp Insurance Chatbot


Using an AI-powered WhatsApp chatbot for insurance resolves all customer support issues because:

  • It’s available 24*7

  • One bot for any scale of customer interactions

  • AI/ML intelligence for smart responses

  • Personalized assistance for every customer

  • Requires lesser investment than hiring a huge support team

  • Better conversational engagement

A study by Accenture shows that 74% of people would be willing to buy insurance from non-insurance companies.


The Future of Chatbots in Insurance


AI chatbots are the future of customer service in the insurance industry. As the use of artificial intelligence and machine learning in the insurance industry is increasing, chatbots will play a major role in the insurance industry.


ORAI's Conversational AI platform is built on the latest advances in artificial intelligence, machine learning, and natural language processing to empower businesses with automated AI-powered customer interactions.


To know more about ORAI’s insurance chatbot click here


Talk to us over WhatsApp OR sign up for a free demo!


Swapnil Jain

CEO-ORAI Robotics


Stay in contact with ORAI



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