This Q&A piece is by Tim Hood, VP EMEA & APAC, at Hyland and it looks at the challenges insurance brands can face in a digital marketplace. Are insurers and brokers meeting customer expectations? Can we we use technology to do better?
How have insurance brands used AI to resolve chat or email message failures? Or improve outcomes on conversations?
“Insurance brands use AI to enhance customer communication through intelligent virtual assistants and chatbots that accurately gauge customer intent and manage complex inquiries. Contextual AI retrieves accurate information rapidly, ensuring that customers get precise answers without delays, while analysis tools flag dissatisfaction and can fast-track potential crises to human agents as appropriate.
“Personalised messaging based on customer data can both improve relevance and reducing repetitive follow-ups. These conversations are also important data points in themselves, with many insurers analysing thousands of conversations with AI to identify and correct common failures, and to continuously refine both chatbot scripts and agent training.
“This proactive approach minimises conversation breakdowns, optimises first-contact resolutions, and improves response times, leading to higher customer satisfaction and operational efficiency. These innovations ensure that insurance providers can address customer concerns effectively, whether through chat, email, or a seamless transition to a human agent when needed.”
Claims can be complex, how are online tools and platforms helping speed the process with AI/human partnerships?
“AI streamlines initial claim assessments by extracting key information from documents and images through the application of Optical Character Recognition and Natural Language Processing, helping insurers understand claims faster and more comprehensively. Automated workflows can then categorise claims based on complexity, routing simple cases for instant approval and flagging more complex ones for expert review.
“AI also detects anomalies and potential fraud early, reducing time spent on investigative processes. This process allows human adjusters to step in for nuanced cases, with AI tools offering predictive insights based on similar cases and historical data, enabling informed decision-making. These platforms also provide policyholders with self-service options, allowing them to upload documentation, track claim status, and receive real-time updates.
“This blend of automation and human expertise minimises delays, improves accuracy, and enhances customer satisfaction by providing quicker, clearer outcomes – as well as affording employees more protection from menial admin, and more time and energy for other responsibilities.”
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