Although insurance is becoming more of an online purchase from PC, laptop or smartphone, there is still a need for the call centre. Often it’s when customers are stressed that due to a claim that they need to speak to a human being. Here’s some info on how AI is evolving and helping insurance brands triage and deal with calls, chats, texts and more comms.
For insurers operating contact centres, artificial intelligence (AI) has undoubted potential to significantly improve customer interaction, leading to increases in revenue and customer retention. But an online poll carried out by IPI, the digital contact centre specialist, suggests that some 30% of the respondents’ risk falling behind the competition as they have no current plans to use AI for their contact centres.
For those businesses that confirmed they were looking at the benefits of AI in areas such as internal agent support through improved knowledge management and using speech analytics, the future looks promising.
Analysts have predicted that by 2024, AI will be a critical component in up to 70% of customer interactions, making it essential for insurers to capitalise on this cutting-edge innovation. AI powered enterprises are poised to achieve unprecedented success, generating x1.5 higher Net Promoter Score (NPS) customer feedback scores compared to their competitors.
With consumers increasingly comfortable asking open questions on devices, it is evident that traditional methods like Dual-Tone Multi-Frequency (DTMF) responses will no longer suffice. AI technology offers a sophisticated solution, capable of understanding customer queries with remarkable precision and delivering personalised responses, making clunky customer transactions a thing of the past.
One of the key benefits of AI in contact centres is its ability to automate mundane customer interactions, freeing up agents to focus on more complex and stimulating interactions with customers. By delegating repetitive tasks to AI, agents become even more productive and can dedicate their attention to building deeper relationships with customers and resolving more intricate issues.
“We firmly believe AI is about supporting people to perform their jobs more effectively and efficiently,” said Steve Murray, Director of CX Solutions at IP Integration. “Our goal is to provide insurers with the tools their agents need to excel in their roles, ensuring that AI complements and develops their skills rather than replacing them.”
The AI-driven revolution will lead to significant improvements in employee wellbeing. Avaya is developing a wellness feature which detects signs of potential emotional distress, such as interactions with angry customers, prompting HR to offer emotional support to the agent.
Steve Murray, said:
“The insurance industry is at a critical juncture. Companies that embrace AI will flourish, while those that ignore its potential will find themselves lagging behind the competition. Large, clunky customer transactions will be replaced by seamless and personalised interactions, leaving customers with a lasting positive impression.
“IPI’s value lies in its expertise in integrating insurers’ legacy back office software, acting as a catalyst for innovation adoption.
“Ultimately, the integration of AI in insurance contact centres signifies a powerful commitment to employee empowerment and customer satisfaction. AI serves as a tool to enhance productivity, not a force of displacement. As the insurance industry progresses into the future, it is imperative that the people working within organisations are respected, supported, and empowered by AI to achieve new levels of excellence.”