What Is an Insurance Chatbot? +Use Cases, Examples

insurance chatbot use cases

It is important to understand that AI chatbots that are having a conversation with you are constantly running statistics to know what to say to you next. They need to keep learning from experience and from large volumes of data. Technology has also advanced to make these interactions with digital assistants as secure as possible. Users can be authenticated, data encrypted, chat history wiped, systems securely integrated, and data protected in secure and isolated environments. This enables more sophisticated business use cases that go beyond simple customer service engagements.

How has technology impacted the insurance industry?

By understanding their customers through data analytics, insurance companies can develop more personalized products and improve customer retention. For example, digital self-service tools can make it easier and faster for customers to get quotes or make policy changes.

Unlike large finance or technology-heavy organisations, insurance firms have not had the need to transform their IT infrastructure in recent times. In general, they have adopted a mindset of “if it ain’t broke, don’t fix it”. To be able to adopt more modern computing-intensive applications like virtual assistants, they will need to change this mindset. There is still room for improvement for insurance firms in terms of the speed of adoption in technologies, especiallywhen it comes to conversational AI solutions. After the damage assessment and evaluation is complete, the chatbot can inform the policyholder of the reimbursement amount which the insurance company transfers to the appropriate stakeholders. Based on the insurance type and the insured property/entity, a physical and eligibility verification is required.

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In this case, your one-for-all support approach will take a backseat while your agents will take extra efforts to access the customer profile to give them answers. Over the years, we’ve witnessed numerous channels to make and receive payments online and chatbots are one of them. And customers are slowly embracing the idea of chatbots as a payment medium. The platform offers a comprehensive toolkit for automating insurance processes and customer interactions.

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Not only that, considering the nature of the insurance industry, one that’s filled with clauses, questions, and arguments, no one else but a bot is built to answer these questions. We see insurance advertisements for all kinds of things, from business risk management to vehicle and health insurance, insurance is everywhere, for everyone! Insurance also happens to be a complex process right from the start, which has room for a lot of errors.


Agents are often the go-to resource for customers and policy holders to seek clarification about their products. And yet, often these agents themselves find it challenging to keep up with the details of the products they need to sell. Conversational AI solutions can help these agents access the info they need at their fingertips through simple queries via a conversational interface. In simple terms, an insurance chatbot is an AI-powered virtual assistant designed to cater to the needs of insurance customers at every stage of their investment journey.

insurance chatbot use cases

Projected savings for health insurance providers who shift one quarter of member digital interactions to self-service is $1.147M per million calls vs. $1.035M for property and casualty insurers. At Verint, we have two decades of real-world experience in the health insurance space. Over that time, we’ve built out a robust natural language understanding model. For example, consider the recent changes in the definition of critical illness as announced by the Life Insurance Association of Singapore. In a conversational AI interface, providers need to ensure that these changes are reflected when leads and customers enquire about health insurance.

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A bot can also handle payment collection by providing customers with a simple form, auto-filling customer data, and processing the payment through an integration with a third-party payment system. Adding the stress of waiting hours or even days for insurance agents to get back to them, just worsens the situation. A chatbot is always there to assist a policyholder with filling in an FNOL, updating claim details, and tracking claims. It can also facilitate claim validation, evaluation, and settlement so your agents can focus on the complex tasks where human intelligence is more needed.

insurance chatbot use cases

This information will help improve your customer experience and track your bot performance. But think about it for a second, no matter how hard a chatbot might try to replicate human behavior, at the end of the day, it still is a chatbot. A fair number of people shun chatbots, not only for security reasons but simply because…it doesn’t feel right. People feel as though a chatbot’s lack of emotions makes it hard to relate with. Multi-territory agreements with global technology and consultancy companies instill DRUID conversational AI technology in complex hyper-automations projects with various use cases, across all industries. DRUID Conversational AI assistants easily integrate with knowledge-base systems, allowing them to provide 24/7 conversations for fast problem resolution.


If an agent isn’t available to offer relevant information (could be in the form of a quote or even servicing a claim), the potential customer goes on to find another provider. Chatbots may handle inbound conversational requests from policyholders, but what if it were possible to answer questions before they’re asked? What if it were possible to proactively distribute information to every policyholder and simultaneously open lines of communication, so customers have the flexibility to choose their preferred channel to respond? All without added expense in time, resources, or money to offer the same self-service through multiple channels.

insurance chatbot use cases

American insurance provider State Farm has a chatbot called “Digital Assistant”. According to State Farm, the in-app chatbot “guides customers through the claim-filing process and provides proof of insurance cards without logging in.” In addition, chatbots can proactively reach out to insurance customers to offer assistance.

Help With Policy Selection

It’s now possible to build and customize your insurance bot with zero coding. An insurance company will find it easy to create a powerful bot anytime and start engaging the customers round the clock. Similarly, if your insurance chatbot can give personalized quotes and provide advice and information, they already have a basic outlook of the customer. But to upsell and cross-sell, you can also build your chatbot flow for each product and suggest other policies based on previous purchases and product interests. Every customer that wants quick answers to insurance-related questions can get them on chatbots. You can also program your chatbots to provide simplified answers to complex insurance questions.

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Conversational AI chatbots for insurance can keep users gripped with smart and directed replies. Although many businesses have used chatbots for insurance, not all are up to par. Chatbots for banking are becoming more efficient in providing businesses with high customer engagement.

Lead Generation Chatbot for Business Administration and Management Control

Important information, necessary documents, and even supporting evidence can all be gathered by a chatbot, streamlining the claims-handling process for human agents. Marketing automation is just one of the ways that chatbots can assist retailers. They can be deployed across various channels, including on social networks and messaging apps. Here, they can ask customers questions to determine what kinds of products they may be interested in and make relevant recommendations.

  • Tokio is a great example of how to use a chatbot in providing proactive support and shortening the sales cycles.
  • This reduces the time that a customer has to contact a customer first, and makes a dramatic impact on the overall customer experience.
  • 80% of the Allianz’s most frequent customer requests are fielded by IBM Watson Assistant in real time.
  • After the damage assessment and evaluation is complete, the chatbot can inform the policyholder of the reimbursement amount which the insurance company transfers to the appropriate stakeholders.
  • Reports suggest that physicians tend to devote about 62 percent of their valuable time per patient reviewing…
  • Integrate your chatbot with fraud detection software, and AI will detect fraudulent activity before you spend too many resources on processing and investigating the claim.

As for the clients, chatbots can provide them with prompt responses, find the right products or quotes that lead to customer content. Meet and assist policyholders through our customer engagement platform, metadialog.com even build an insurance chatbot, to help deliver truly authentic intent-driven conversations, at scale. The insurance, financial, and risk management industry is about predicting and mitigating risks.

An AI platform that identifies consumer intent to drive engagement

People can perceive the insurance sector as being challenging to understand when they are reading through lengthy quotes and policy documents striving to understand what is and is not covered. To learn more about how natural language processing (NLP) is useful for insurers you can read our NLP insurance article. Claim filing or First Notice of Loss (FNOL) requires the policyholder to fill a form and attach documents.

insurance chatbot use cases

The insurance sector is witnessing unprecedented growth with the adoption of advanced technologies such as Conversational AI. While the traditional processes are digitally transformed, new and progressive methodologies like smart underwriting, virtual digital assistant, 24X7 insurance services are wiping out old practices. Great customer support remains always alert and that’s what traditional wisdom says. But in the era of conversational AI, customer support tends to be more aware of individual customers as well. This brings a new dimension to the support experience for insurance customers. An insurance bot can keep track of claim status and any changes made by customers.


AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 55% of Fortune 500 every month. You can see more reputable companies and resources that referenced AIMultiple. Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. He led technology strategy and procurement of a telco while reporting to the CEO.

How is AI disrupting insurance?

Here's how. Artificial intelligence (AI) can help insurers assess risk, detect fraud and reduce human error in the application process. The result is insurers who are better equipped to sell customers the plans most suited for them. Customers benefit from the streamlined service and claims processing that AI affords.

What is the future of chatbots in insurance?

According to some estimates, chatbots are expected to generate over $8 billion in savings globally by 2022,1 while also offering 24×7 customer service, lower processing time, faster resolution and straight-through processing, leading to increased customer satisfaction.


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