Most policyholders don’t check or confirm their insurance coverage until they need to use it. For example, in the minutes following an accident or incident, customers need immediate answers to their questions — and many times they may not be sitting at their computer to access information online. A customer may need to use a mobile app or social media to communicate with their insurer. The policyholder may not yet be prepared to file a claim, but wants assurances that their policy will cover any damage. Getting those “in the moment” responses will help a policyholder determine the next steps — whether that’s filing a claim, increasing coverage or another action.
Insurance companies are looking to leverage technology to provide multi-channel “in the moment” digital experiences for their customers. Insurers also want to arm their employees with innovative technologies so they can work more productively, as that will have a direct impact on the bottom line. An Accenture survey1 found that 79% of insurance executives agree organizations are under extreme competitive pressure to extend innovation into their workforce. Insurers also want to introduce Artificial Intelligence (AI) into their customer service strategies, especially for handling immediate policy inquiries from rattled policyholders dealing with the aftermath of an accident or fire.
Amelia from IPsoft, the leader in enterprise AI, is already on the job for insurers around the world, interacting with customers and delivering the information they need through a variety of channels.
What Amelia Can Do
Easy to train needs to be included to handle the variety of issues, she can be quickly trained with insurance expert not an engineer, across the easiness to train is under-communicated, three main points, easy to train scale and learn and feel emotions.
Amelia, as the industry’s leading cognitive AI, is ideally suited to deal with large volumes of insurance inquiries. Not only can Amelia process these faster than humans, she has the ability to learn and improve over time, provide personalized service, and even advise policyholders on next steps following an accident or injury.
Policy and coverage information: With her automated training, Amelia can quickly learn an insurer’s policies and procedures, and be trained to ask the most appropriate questions depending on the inquiry. With her integration to back-end systems and data sources, she can instantly connect to all policyholder information, including coverage and billing information, in less time than a human agent. Amelia can learn new processes as needed, and adhere to all industry regulations.
Multi-channel and scalable: Policyholders can access Amelia 24/7 through multiple channels such as text, mobile, social media, and voice, whether the customer is on the road for a business trip or standing at the scene of an accident. Amelia is massively scalable, with the ability to handle high call and support volumes in multiple languages.
Provide new and comparative policy information: Amelia delivers services through her conversational interface, including information on coverage, beneficiaries and terms, and can walk customers through the process to make any desired changes, such as increased coverage. She can also make recommendations on new products based on a customer’s history and questions. With her emotional intelligence, Amelia can detect sentiment and display emotion, which is especially important when a policyholder is worried about their coverage. Amelia can reassure a customer that their coverage is adequate, or make recommendations for increasing coverage if the customer is interested.
Connect with human colleagues (whisper agent): For her human colleagues, Amelia is the ultimate customer service team member. With her self-learning and workflow capability, Amelia can assist licensed and non-licensed agents in the background as they field questions from customers, and she’ll observe those interactions discretely to learn how to handle similar queries in the future.
With customer expectations for service and ease-of-use at an all-time high, IPsoft’s Amelia allows insurers to provide innovative customer service whenever policyholders need it, no matter what the circumstances.
Support costs: By utilizing Amelia’s intelligence, transaction processing ability, and scaling capacity, insurance companies and financial services firms can have a major impact on support costs. Although it varies by company, some have cut their overall operational support costs by as much as one-third.
Faster and more accurate responses: Amelia’s always-on ability to scale with inquiry volumes, day or night, means customer questions are answered more quickly and accurately. She can achieve up to 85% accuracy in certain conversations, and has achieved a level of understanding for some conversations and functions close to 99%.
Improved customer experience: As a self-learning, emotionally intelligent platform, Amelia’s elevates customer experience and grows smarter over time, which has a direct impact on customer satisfaction. What’s more, with Amelia providing humanlike “in the moment” responses when policyholders need them the most, insurers can demonstrate that they care about their customers’ needs, building customer loyalty and trust.
Enhanced workforce: With Amelia handling more routine policy inquiries, she frees up time for human colleagues to focus on higher-value customer interactions. What’s more, she can assist live agents, learn from her human colleagues, and then repeat those procedures in future inquiry sessions.