What is Insurance Chatbots? + 5 Use-case, Examples, Tools & Future

Furthermore, insurance companies are majorly focusing on delivering their core skills, with minimal emphasis dedicated to addressing client queries and guiding them to the relevant items online. By providing an additional mode of contact, the chatbot aids the company in serving consumers. Furthermore, customers can also seek help from virtual assistants on any topic relevant to a certain organization. Thus, boost in demand for better customer alignment propels the expansion of the industry. With a WhatsApp insurance chatbot, companies can easily offer solutions and services previously in human agents and support staff.

One of the imperative uses of chatbots in the healthcare industry is to extract patient data. First, it uses simple questions like the patient’s name, contact number, address, symptoms, current doctor, and information regarding insurance. Then it stores the extracted data into the medical facility system to make things easier like patient admission, doctor-patient communication, tracking of symptoms, and medical record keeping. For doctors, chatbots are beneficial as they can access patients’ medical records in seconds. They can also check prescriptions and last check-up records instantly at the time of emergency.

Reduce waiting time

There is certainly a lot of room for growth in the healthcare sector when it comes to AI and other innovative technological solutions. Cloud adoption rates are on the rise, and an increasing number of healthcare providers are looking into new ways for streamlining their processes and reducing wait times. Healthcare providers are now implementing bots that allow users to check their symptoms and understand their medical condition from the comfort of their homes. Chatbots that use Natural Language Processing can understand patient requests regardless of the input variation. This is critical for meeting the high accuracy of responses, which is essential in symptom checkers. Clinics and hospitals do that to make finding information easier for users.

Insurance chatbots are designed to expedite this by walking customers through each step, collecting essential information and documents, and routing these to the appropriate departments. Today, they can shop for policies online, read reviews, compare offerings of different insurance providers, and even self-service their policies. Healthcare chatbots can locate nearby medical services or where to go for a certain type of care. For example, a person who has a broken bone might not know whether to go to a walk-in clinic or a hospital emergency room. They can also direct patients to the most convenient facility, depending on access to public transport, traffic and other considerations.

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Moreover, chatbots can send empowering messages and affirmations to boost one’s mindset and confidence. While a chatbot cannot replace medical attention, it can serve as a comprehensive self-care coach. In addition, chatbots can also be used to grant access to patient information when needed. Chatbots provide quick and helpful information that is crucial, especially in emergency situations. We are a Conversational Engagement Platform empowering businesses to engage meaningfully with customers across commerce, marketing and support use-cases on 30+ channels. When customers have to go through a website or app for support, they’re often required to navigate complicated menus and multiple screens and input various pieces of information to get the help they need.

A bot can ask them for relevant information, including their name and contact information. It can also inquire about what they are wanting to buy insurance for, the value of the goods they are wanting to insure, and basic health information. In the future, we’re going to see more comprehensive chatbots solutions emerge on the market. The most innovative chatbots will combine many of the features mentioned above. With the knowledge of the input, the bot can assess information and help users narrow down the cause behind their symptoms.

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For instance, medical providers can utilize bots for making a connection between patients and doctors. Informative chatbots offer useful data for users, sometimes in the form of breaking stories, notifications, and pop-ups. Mental health websites and health news sites also utilize chatbots for helping them access more detailed data regarding a topic. Allie is a powerful AI-powered virtual assistant that works seamlessly across the company’s website, portal, and Facebook managing 80% of its customers’ most frequent requests. The bot is super intelligent, talks to customers in a very human way, and can easily interpret complex insurance questions. It can respond to policy inquiries, make policy changes and offer assistance.

It requires a lot of patience and skills and chatbots lack empathy and natural emotions like humans do. Healthcare chatbots offer quick information to patients in an easy format. Information like nearby medical facilities, hours of operation, pharmacies and drug stores for prescription refills, etc. Along with that patients might have questions regarding what to do during a medical crisis or what to expect during a medical procedure.

Examples of Some Great Insurance Chatbots

Indian insurance marketplace PolicyBazaar has a chatbot called “Paisa Vasool”. It helps users with tasks such as finding the right insurance product and comparing different policies. In 2022, PolicyBazaar also launched an AI-Enabled WhatsApp bot for the purpose of settling health insurance claims. The bot responds to questions from customers and provides them with the correct answers.

Furthermore, the information gathered by chatbots can provide valuable insights into customer’s behavior, preferences, and issues. This information can help insurance companies improve their products, services, and marketing strategies to exceed customer needs and expectations. For instance, Capacity is an AI-powered support automation platform designed to streamline customer support and business processes for various industries, including insurance. By connecting with a company’s existing tech stack, Capacity efficiently answers questions, automates repetitive tasks, and tackles diverse business challenges.

With chatbots being integrated in multiple messenger apps (Facebook, Slack, Twitter, etc.) it is easier than ever to contact an insurer. Marc is an intelligent chatbot that helps present Credit Agricole’s offering in terms of health insurance. It swiftly answers insurance questions related to all the products/services available with the company. The bot is capable of analyzing the user’s needs to provide personalized or adapted offers. AI Jim chatbot from Lemonade creates a truly seamless, automated, and personalized experience for insurance clients. It greatly reduces wait time for customers and provides information and initiates documentation that helps speed up the process.

Currently, their chatbots are handling around 550 different sessions a day, which leads to roughly 16,500 sessions a month. The chatbot is available 24/7 and has helped State Farm improve client satisfaction by 7%. Read more about the importance of a next-generation conversational AI solution and how Verint is leading the industry forward in this report from IDC.

Insurance procedures often involve extensive paperwork and can be confusing for the average person. Your chatbot can works as a friendly guide, helping customers with clear answers on policies, claims, and terms and conditions. To learn more about how natural language processing (NLP) is useful for insurers you can read our NLP insurance article.

• 60% of insurers expect nontraditional products to generate revenue on par with traditional products.
• AI chatbots can respond to policyholders’ needs and, at the same time, deliver a wealth of significant business benefits.
• I am looking for a conversational AI engagement solution for the web and other channels.
• AI chatbots provide basic informational support to patients (e.g., offers information on visiting hours, address) and performs simple tasks like appointment scheduling, handling of prescription renewal requests.
• The technology behind informational chatbots may seem relatively easy to use.
• They could also be thought of as decision aids that deliver regular feedback on disease progression and treatment reactions to help clinicians better understand individual conditions.

With an advanced bot, it’s virtually effortless to identify customers who file bogus documents and make false claims to squeeze money out of the insurer. Your insurance company can trust the bot to flag potential fraud by asking customers for additional proof of documentation. Insurance chatbots can be set up to answer frequently asked questions, direct customers ro relevant information and policy guidelines, and offer resources for self-service, 24/7. These chatbots can also gather insights about customer behavior to help insurance providers bridge the gaps in customer expectations and offer personalized support without increasing operational costs.

Patients can ignite a meaningful conversion with bots and then bots can provide them with profound practical solutions for enhancing their mental health. Almost every industry is now moving towards digital transformation (DX) by implementing Artificial Intelligence (AI), Machine Learning (ML), IoT, and many more. The healthcare industry is also experiencing the intervention of AI-powered chatbots. Undoubtedly, medical chatbots will become more accurate, but that alone won’t be enough to ensure their successful acceptance in the healthcare industry. As the healthcare industry is a mix of empathy and treatments, a similar balance will have to be created for chatbots to become more successful and accepted in the future. Healthcare customer service chatbots can increase corporate productivity without adding any additional costs or staff.

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