One thing is always a certainty for insurance companies when the end of the year rolls around – policy holders receive their annual premium invoice. Information on changing annual premiums, no-claims bonuses or tariff criteria always raise questions for customers: Why did my premium increase? How can I bring it back down? What tariff can I change to? These and similar questions mean that customer service departments are stretched to their limits – and sometimes beyond. In turn, this has a range of negative consequences for the company, with increasing workloads and decreasing service quality leading to a drop in customer satisfaction.
How to make customer service in insurance companies better
An AI that rises to the top during peak times
How things used to be
Then AI came along
The use of AI-based systems reduces the strain on customer service staff. Insurance companies can implement specific solutions such as using chatbots to answer standard queries. The benefit for policy holders is that they can immediately get in touch with the company at any time of the day or night, regardless of whether they prefer to do it over the phone, using their smart speaker, via e-mail or using social media channels. This means that customer service staff can focus on the more complex cases rather than deal with the tsunami of easy-to-solve standard queries, allowing insurance companies to offer a higher quality of customer service for the same amount of effort.
The AI application searches the IT systems for data on the policy holder for each query, which enables it to provide the customer with real-time information on new tariffs, deadlines and contractual changes. Chatbots can be configured to carry out transactions such as changing a tariff or recommend other offers (known as the next best offer).
The situation today
Policy holders have a range of options available to them to get in immediate contact with their insurance company and sort out their issues directly. They can switch between channels in any way they want within a dialogue and a member of staff can take over, if needed.
Using AI to automate customer contact is no longer confined to the realms of Sci-Fi in this day and age.
Prof. Dr. Jürgen Angele, Manager Compentence Center AI, adesso SE
For which companies is the approach suitable?
Insurance companies Any company with complex customer service structures
For which decision makers is the approach interesting?
All managers working in departments related to customer services
Backgrounds for the technically interested
Converting speech to text, Natural language understanding, Google AI services (DialogFlow), IBM (Watson), Semantic layer
Do you have any questions?
Artificial intelligence is not a replacement for human discussion
Are you wondering what possibilities AI can open up in your company? Would you like to learn more about its applications and the technology? We cannot give you a pack full of stock responses, but we can share with you our specialist knowledge, our curiosity about your company and our passion for technology.
We would be delighted to talk to you.