Chatbots are mainly used in call centers, but recently, more and more companies are introducing them in the insurance industry. Therefore, in this article, we will explain the use cases of chatbots in the insurance industry and the benefits of improving operational efficiency.
- Mitsui Sumitomo Insurance Co., Ltd.
- lifenet insurance
You can also refer to the chatbot implementation example from here!
Please use them together.
Contents of this article
- Two chatbot use cases in the insurance industry
- 1, Mitsui Sumitomo Insurance Co., Ltd.
- 2, Lifenet Insurance
- Three benefits of introducing chatbots in the insurance industry
- 1, Customers will be able to automatically make simple estimates
- 2, Companies will be able to respond to customer inquiries 24 hours a day
- 3, The number of incoming calls for inquiries is reduced, leading to a reduction in the burden on the person in charge
- Tips for implementing chatbots in the insurance industry
- 1, Clarify the purpose of introducing the chatbot
- 2, Is the tool that should be introduced really a chatbot? revise
- 3, Compare multiple chatbot vendors
- sAIChat｜AI chatbot that is smart and hassle-free from the beginning
- 1, smart from the start
- 2, Functions and designs that pursue ease of use
- 3, Customer success accompanies operation and improvement
- Summary of chatbot implementation examples in the insurance industry
Two chatbot use cases in the insurance industry
Let’s take a look at how chatbots are being used in the insurance industry and see examples of specific companies that have introduced them.
1, Mitsui Sumitomo Insurance Co., Ltd.
Mitsui Sumitomo Insurance Co., Ltd. has introduced a chatbot to respond to FAQs on its website to improve efficiency in responding to inquiries.
The company used to provide manned customer support, but it was a big issue to deal with after-hours inquiries and save labor in operations. Also, regarding the FAQ on the homepage, it can be said that it was an issue that customers could not immediately reach the information they wanted.
The company has introduced a chatbot that allows it to respond to customers outside of customer support hours. In addition to automating routine tasks that had previously been performed by operators, we are using chatbots to improve the content of FAQs by utilizing the conversation history between chatbots and customers.
As a result, the number of telephone inquiries decreased and the number of contracts increased. Also, by improving the content of the FAQ, the resolution rate has increased to about 70-80%.
2, Lifenet Insurance
Lifenet Life has started customer support using AI chatbots. As a result, in addition to being able to respond to customers during the contact center’s business hours, customers who are not good at speaking with operators can now easily consult with chat.
Since 2017, the company has been responding to customers using a chatbot on its official LINE account. However, the chatbots were only able to respond to simple questions and questionnaires narrowing down the types of insurance products customers wanted, and the rest of the response was handled by operators. Therefore, it can be said that the problem was that it was not possible to respond to customers outside business hours such as late at night.
The introduction of AI chatbots has expanded the range of operations that can be handled, and it is expected that the company’s customer satisfaction and profits will improve.
Three benefits of introducing chatbots in the insurance industry
We will introduce the main benefits of introducing chatbots in the insurance industry, as seen in the cases of Mitsui Sumitomo Insurance Co., Ltd. and Lifenet Life Insurance.
1, Customers will be able to automatically make simple estimates
Chatbots can automate routine tasks performed by operators. For example, customers can automatically issue simple estimates by answering standard questions via chat. In addition to reducing labor costs, being able to provide quotations to customers quickly at any time will also lead to improved customer satisfaction.
2, Companies will be able to respond to customer inquiries 24 hours a day
Chatbots are available 24 hours a day, so the advantage is that they can respond to customer inquiries even late at night or on weekends when staff cannot work. If you introduce a chatbot, even customers who are busy with work during the day and can’t easily contact them will be able to consult with them easily when they have free time. As a result, we can expect the effect of attracting customers who have been overlooked.
3, The number of incoming calls for inquiries is reduced, leading to a reduction in the burden on the person in charge
One of the benefits of introducing a chatbot is that it reduces the number of incoming calls. By providing a contact window for chatbots, customers will be able to make inquiries in a way that suits them.
It will be possible to separate customers who want to casually ask questions about insurance using chatbots, and customers who want detailed explanations and ask questions using manned inquiry desks.
Another reason for the decrease in the number of incoming inquiries is that the number of customers who can self-solve by increasing the content of the FAQ by using the conversation history of the chatbot increases.
Tips for implementing chatbots in the insurance industry
Chatbots have many advantages, but when considering whether or not to actually introduce them, it is necessary to carefully consider the following points.
1, Clarify the purpose of introducing the chatbot
When introducing a chatbot, clarify what kind of problem you want to solve. Chatbots are a means, not an end. It is difficult to achieve a large effect just by introducing it, so it is necessary to visualize the issues to be solved.
Customer satisfaction cannot be improved unless the customer’s attributes and insurance literacy are taken into account when using chatbots, and the optimal response cannot be provided. For example, customers in their 20s and 30s and customers in their 50s and 60s need different insurance and want different information. Let’s adjust the chatbot so that it can respond optimally after clarifying which attribute of the customer it will lead to solving the problem.
2, Is the tool that should be introduced really a chatbot? revise
When considering the introduction of a chatbot, it is necessary to clarify the question, “Is the chatbot really the best tool for your company?” This is because the tools that should be introduced differ as follows, depending on the expected amount of FAQs.
- Around 50: Regular chatbots (non-AI)
- 50 to 300: AI chatbots
- Over 300 items: FAQ system
For companies that frequently use FAQs, there are cases where FAQ tools are more suitable than chatbots. Therefore, you need to find the best tool for your company.
Please feel free to contact Saiseed, which develops sAI Chat, which will be introduced later, as we can also offer consultations on its introduction.
3, Compare multiple chatbot vendors
Chatbots are available in many tools from many vendors. Therefore, it is essential to compare and consider vendors that match the purpose of your company’s introduction. It is necessary to make a careful decision by comparing not only the cost, but also the functionality and the presence or absence of operational support (they even help improve the effectiveness of the chatbot).
We have prepared materials comparing the latest chatbots (FAQ systems), so please download them from the following page.
sAIChat｜AI chatbot that is smart and hassle-free from the beginning
Finally, we will introduce the features of the artificial intelligence-equipped chatbot “sAIChat” provided by Sciseed. It would be great if you could consider it as one of the options for productivity improvement measures.
1, smart from the start
sAI Chat has a very high accuracy of automatic response by artificial intelligence from the introduction stage, and it is possible to operate with less learning cost than conventional AI-equipped chatbots. Also, for questions that cannot be answered by AI, you can switch the response to the operator from the middle. As a result, we are able to respond flexibly to all customer inquiries.
2, Functions and designs that pursue ease of use
sAI Chat realizes functions and designs that are easy for anyone to use. Since it supports natural sentence searches and has a “question sentence suggestion function” to guide the user to the correct answer, it is possible to smoothly provide the information the customer wants. In addition, since the design can be customized, it is possible to provide a UI that matches the customer’s attributes.
3, Customer success accompanies operation and improvement
For customers who have introduced sAI Chat, Cyseed staff will accompany them from introduction to operation, and support them until the end so that the chatbot’s results can be maximized. The advantage of sAI Chat is that even customers who do not know how to use chatbots in the insurance industry can introduce it with peace of mind.
Summary of chatbot implementation examples in the insurance industry
Companies in the insurance industry are increasingly adopting chatbots. One of the reasons for the progress of introduction is that the chatbot can respond 24 hours a day, so it can respond to customer inquiries even during hours when staff cannot work.
In addition, automating the routine tasks performed by operators can lead to a reduction in personnel costs, which is another factor contributing to the increase.
As a point when introducing a chatbot, it is important to clarify the purpose of introducing the chatbot after repeatedly considering whether the tool to be introduced is really a chatbot, and to compare multiple chatbot vendors.
