May 28, 2017


How chatbots can settle an insurance claim in 3 seconds (ALEX SUN, MITCHELL INTERNATIONAL, MAY 27, 2017, Venture Beat)

What problems can AI solve for insurers? Many are investing in chatbots, powered by natural language processing, to improve customer experience. Chatbots are fast and efficient, and customers can interact with them in the way they are most comfortable communicating -- via whatever mobile device they have in their pocket. And unlike humans, they can help more than one customer at a time and are available around the clock. Chatbots are not strictly a utility play. When they are designed to have personalities that align with the brand powering them, they move from simply transactional to transformative customer experience.

In a recent Accenture study of the insurance industry, 68 percent of respondents said their companies use some sort of AI-powered virtual assistant in at least one segment of their business. Geico's virtual assistant, Kate, for example, answers basic policy and billing questions within an app. Digital insurer Lemonade takes things a step further. Their chatbot, Maya, sells inexpensive homeowners' and renters' insurance, and their claims bot, AI Jim, makes Amazon Prime's same-day delivery look slow -- it recently settled a simple claim in three seconds.

As chatbots become more commonplace, they are making their way into behind-the-scenes claims processes as well. Tableau's prototype chat software, Eviza, has a voice interface, so users can drill into its signature data visualizations simply by asking questions out loud. Clara Analytics offers askClara, a chatbot they bill as a "24/7 personal assistant to the claims handler". Like customer-facing chatbots, it can answer routine questions about a given set of claims.

Posted by at May 28, 2017 7:14 AM