We are at a turning point in customer service when it comes to industry disruptions. More and more companies are opening the door to AI in the form of robotic process automation. Chatbots, especially, are renowned as efficient operators who need to provide exceptional customer service experience. Now, when it comes to digital insurance, incorporating more automation into the service operations must be done carefully, understanding fully that the overall customer experience is a big part of the insurance sector.
Data is the lifeblood of insurance. It provides heightened insight into risk management situations. Artificial Intelligence (AI) allows insurance companies to better select risks to undertake and at what price. Knowing that data and analytics are fundamental to customer support, AI allows for the systems to be proactive instead of reactive, creating a customer experience as smooth as a hot knife slicing through butter.
Technically, the bigger fish in this industry (insurance) happens to be AI. This fish is taking over software in a proactive manner. But why do we need AI? The move from traditional methods has been utilized to support customers better. Alluding to the manner in which the uptake of AI eases queries in customers’ minds.
This goes to show just how in-depth AI is changing the face of customer service and customer relationship management. Gaining real-time insights across all customer contact channels, optimizing agent availability, and cutting down on wait times is now moving along into being fully integrated as part of the digital insurance experience.
It is no mystery how insurers around the world are turning to AI to cut costs, boost sales, and improve service efficiency. AI is powering insurers all along the insurance value chain, and with that said, AI is really the innovator of the insurance sector.
Inmediate is an insurtech startup from Singapore that is using the latest technology such as Artificial intelligence, Distributed Ledger, and NLP, making insurance processing and underwriting fast, cheap, and flexible. That gives for better processes, lower costs, improved time to market, and new revenue opportunities.