Insurance Brand Growth Blog


 March 07, 2019

Chatbots: How They Can Impact Your Insurance Customer Management & Sales

Making sure your insurance company’s business flows smoothly is always a challenge, and your quick responses to customers are one of the key ways you gain trust from them. This means that communication with your clients or prospective clients is one of the most important facets of your business.adult-american-blond-1061580

Good communication shows your customers, above all, that you care about their insurance needs and have their best interests at heart. Once they understand that, they will return to your business with future insurance needs and even refer friends and family to your business. But -- you can’t communicate with every customer or client every time, and often your insurance business may have limited personnel to communicate with said customers. So what’s the solution? How about chatbots?

What Are Chatbots?

You know that little window that has started popping up when you visit your favorite website, the one that says something like, “Hi! How can I help you today?” Yep, that’s a chatbot. A bot, strictly speaking, is a simple AI (artificial intelligence) system that can answer some of your questions, or at the very least forward you on to a human being who can. Sound familiar? Chatbots can allow you to converse within an app so you don’t have to download it, for instance.

Chatbots began with ELIZA, an early bot that was created in the 1960s to psychoanalyze people, and moved onto Kik, WhatsApp, Facebook Messenger and others. Today, chatbots like LivePerson, LiveChat, botique.ai, Amazon Lex, and Dialogflow lead the chatbot revolution. But what does all this have to do with your insurance company? Good question, and we’re glad you asked!

How Can Chatbots Help Manage Your Insurance Company?

First and foremost, chatbots can save you and your employees time. Along with a marketing plan from a highly-regarded company like Hult Marketing, chatbots can improve your company’s customer engagement with customers, provide customer support when you’re unable to, and increase your time for other business functions, like meeting with clients or creating excellent insurance packages for your most valued customers.

How Can Chatbots Impact Your Insurance Sales?

Chatbots can increase customer engagement, so it stands to reason that they can also increase your revenue and interest in your insurance products. By 2022, some researchers believe that chatbots will handle 85% of customer interactions -- meaning they will communicate more with bots than they do with their husbands or wives. While this is kind of scary, it seems to be the way of the future -- and if chatbots can help us do what we want in a normal day, why not? Keep in mind that consumers can’t tell whether they are interacting with a person or with a chatbot in many online interactions -- about 27% of them! The purpose of chatbots is to create unparalleled customer service, which is what your insurance company strives for each day.

Chatbots can save your insurance company money, and you may be joining up to 80% of businesses in your chatbot acceptance by the year 2020. If you’ve ever worked in customer service or answered the phones at your own insurance business, or if you’ve been in the business for years, you know that customers often have the same questions. This means you spend hours of your life repeating the same information to them -- why not leave that part of the interaction to the chatbot, and join the conversation with your vast insurance knowledge after the preliminaries? Yeah, we thought so.

Chatbots can answer all of the basic customer questions and connect them to your insurance agents when they need it. In the meantime, your chatbot can also be personalized to assist your customers with basic insurance needs, like choosing a new policy, changing information on their policy, or with answering standard questions about insurance policies.

Chatbots may be exactly what your insurance business needs to use its resources wisely, and provide the best customer service and information in your area. It’s worth checking out.

Let's chat and put the Hult Team’s experience to work for you. Feel free to reach me at 309-673-8191 or jflynn@hultmarketing.com, and together, we can grow your insurance Brand.

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