Cognitive Contact Center complemented by Chatbots for Insurance

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Overview

Insurance has been an industry where personal engagement has always been considered core. With advent of digital, there has been a mixed approach - certain processes and lines of business have tended to more digital or non – personal engagement to address convenience and efficiency. Consumers also prefer to have human assistance over digital channels to address policy servicing needs. Conversational technologies provide an interesting alternative by bringing in comparatively more personal approach to Digitization and encompass Chat, Voice and E-mail BOTs enabling interactions of policyholders and producers with Insurance enterprises. The offering comes with pre-designed nature language conversations across key interactions and with its adoption in policy servicing will provide relief to contact centers. Some of the early adopters claim a 20 – 30% reduction in call volumes due to BOT enabled servicing.

Insurers and Intermediaries try to sell to customers through digital channels, BOTs provide a viable alternative to sell to them at a place where they spend most time i.e. messengers and social media channels. This provides an alternative to Mobile apps and need to compete with crowded Smart phone space. Mindtree’s conversational solution is capable of providing a premium estimate for both L&A and P&C LOBs with minimal number of inputs from the customer. Keeping humanized engagement as prime focus, our solution gives customer the freedom of changing any of the input at any point of time to get a more personalized premium estimate. The ability of our solution to support multi-channel including leading messengers and social media giants, we help insurers to reach huge mass of customers. Thus we help customers to get a premium estimate with their smartphones anytime anywhere and insurers to generate more leads.

Key Features

Mindtree’ s Cognitive contact center offering caters to servicing customers and intermediaries with policy related enquiries such as policy features, policy events, policy roles, benefits, etc. The solution is capable of providing a premium estimate for both L&A and P&C LOBs with minimal number of inputs from the customer.

The chat and voice bots leverage Natural Language Processing and conversational technologies which enable global Insurers to optimize their contact center operation for handling

  • Generic queries
  • Policy-related enquiries
  • Service requests
  • Quote generation/premium estimates
  • Claims intimation

It is built around the concept of providing more humanized approach to the end users and hence it is enriched with features including:

  • Ambiguity handling
  • Context handling
  • Proactive suggestions
  • Human handoff

Given disruptive competition from technology companies that have entered Insurance business, there is constant pressure to compete with redefined cost models. Going Digital in Insurance is a balancing act between technology intervention and humanization of engagement.

Key Benefits

Cognitive contact center offering helps Insurers realize the following key benefits:

  • Personalized interactions
  • Humanization of engagement
  • 24 x 7 availability
  • Convenience
  • Proactive assistance
  • Scale