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Chatbots: Saviours of the insurance industry - Jacada - ContactCenterWorld.com Blog

Chatbots: Saviours of the insurance industry

While the insurance industry has been slow to transition to a digital world, chatbots offer a quick and easy way to begin delivering the services 21st century customers demand.

It is a recognized fact that in general, the insurance industry has been slow to adopt digital tools and business models, at least in comparison to most other industries. Insurance has long been a pretty inflexible game, which is why this sector has been shaken by the manner in which customer expectations have shifted dramatically in recent times. Today’s consumers expect their service providers to maintain a presence that is not just multi-channel but omni-channel, and they expect a customer experience that is not just satisfactory but actually enjoyable.

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It is thus important for insurers to recognize the importance of delivering a flexible, convenient and digitally mature experience, particularly given the diverse needs of policyholders. This means that it is imperative they implement more advanced services to support human agents.

Chatbots to the rescue

One potential answer to this lies in artificial intelligence (AI) and the chatbots that run on this. It certainly appears as though chatbots are the future, with research firm Gartner predicting that AI will power 85% of all customer service interactions by the year 2020.¹

The unique ability of chatbots lies in how they are able to personalize and automate processes, which offers the insurance industry a wonderful opportunity to significantly enhance the relationship that exists between companies and their policyholders.

One of the key benefits offered by such virtual assistants is the ability to simplify mundane, everyday tasks. Since the comprehension and informational algorithms that power chatbots are improving all the time, these virtual assistants have the potential to enhance efficiencies in numerous ways.

Not only do they offer the ability to handle frequently asked questions, increasingly they are able to handle more complex queries in the natural language format of chat, while at the same time being able to reference more information than a human could ever possibly hope to.

If you think about it, insurance companies have an abundance of the one thing AI requires to be successful - data. Effective machine learning, in turn, delivers the ability to make all this information actionable. Whether it is ranking information and listing it; classifying other forms of information, such as images; associating information with a numerical value; or even parsing data in order to detect anomalies, AI can change the way insurers operate.

The happy customer

Since chatbots are capable of identifying speech patterns and interpreting non-verbal hints, they are able to interact with customers in a way that gives them the feeling that they are interacting with a real human, one who is smart enough to handle whatever insurance-related query they throw at them.

In addition, customers today have shifted from predominantly verbal communications to written forms of interaction, thanks to the proliferation of text-based mobile apps. Therefore, customers will not only be happy conversing with chatbots that offer a user-friendly and conversational interaction, but will be happier still knowing they can do so at their own leisure, 24x7.

Ultimately, chatbots should enhance the customer experience, as they are able to provide users with an easy way to obtain the information they need. Sophisticated virtual assistants can even provide a personalized approach that can include images, content, links, call-to-action buttons or direct payment options, based on user input at a specific point.

Another reason customers will enjoy interacting with a chatbot is because virtual assistants enable the user to interact with services without the need for downloading or installing an app and having to struggle to learn a new user interface.

What of the insurer?

The key benefit, of course, is the already mentioned ability to automate claims processes. From assisting customers to register the first notice of loss or scheduling an appointment for the evaluator, chatbots can eliminate the need to have a human involved in these mundane processes.

The right virtual assistant can genuinely help an insurance organization to achieve effective customer engagement, allowing fast and contextual access to information, explaining complex products and ultimately improving sales and distribution. By automating a wide range of simpler functions, they play a crucial role in boosting employee productivity, by freeing up humans to focus on the more complex, time-consuming and critical activities that are vital to helping an organization differentiate itself in the marketplace.

Tata Consultancy Services anticipates that insurance companies will spend on average $90 million on artificial-intelligence technologies by 2020. ²

What it boils down to is that the automation provided by chatbots can go a long way towards eliminating the day-to-day administrative tasks faced by brokers. Virtual assistants offer the chance for insurance companies to leverage the efficiencies these bring to attract new customers. By adopting digital technologies, these players will have begun future-proofing their businesses.

After all, chatbots are a lot more than merely a utility play. Advanced virtual assistants can be designed to have distinct personalities, ones that align with the brand powering them. When this is achieved, the chatbot moves from being simply transactional to being a solution that can transform the customer experience.

http://www.gartner.com/newsroom/id/3763265 https://www.bloomberg.com/news/articles/2017-04-19/insurance-customers-will-have-to-get-used-to-talking-to-machines

Source: http://www.jacada.com/blog/chatbots-saviours-of-the-insurance-industry

Publish Date: September 18, 2017 5:00 AM


2020 Buyers Guide Analytics

 
1.) 
3Fiftynine

CardBoard
CardBoard: Real-time data, shows the most important KPI’s in your Contact Center.
Built for data | Designed for business | Empowers teams

2.) 
Acqueon Technologies Inc.

Acqueon's AI-driven conversational engagement software enables sales, marketing and service organizations to engage in emotionally connected dialogs with customers via their channel of choice for significantly improved results. The Acqueon suite adds multichannel campaign management, contact center analytics, desktop, and CRM connectors for your contact center software of choice, including Amazon Connect, Cisco, Nice inContact, and Twilio. Acqueon conversational engagement software leverages the Acqueon IQ platform to aggregate data from the various applications, assemble rich customer contexts, and drive next-best-action using powerful statistical and predictive models.
PH: +1 888-946-6878

3.) 
Call Tracking Metrics

Automate insights from all your customer communications

There's no better way to get to know your customer than through their own communications with your brand. Gain a strategic advantage and a thorough understanding of your customer's full journey with a complete suite of conversation intelligence tools and features. Measure customer sentiment, automatically identify and score qualified conversations, and give strategists everything they need to knock their campaigns out of the park.

Use conversation analytics to:

• Build your ideal customer profile
• Optimize your sales and customer service processes
• Maximize your resources to focus on quality conversations
• Identify trends and customer sentiment in real-time
PH: 8005771872

4.) 
CallFinder

CallFinder speech analytics
CallFinder® is a leading provider of cloud-based SaaS speech analytics, automated call scoring, and speech-to-text transcription technology with sentiment analysis. Our easy-to-use solution is designed to help businesses and contact centers automate quality monitoring to improve agent performance and provide a superior customer experience.

With CallFinder, you get…

100% visibility into agent-customer interactions
100% monitoring of interactions, up from only 5-10%
Scalability of QA reviews with the same size QA team
CallFinder isn’t just your average speech analytics provider. When you work with us, you get unparalleled, continuous support through our MyAnalyst managed client servic...
(read more)
PH: 800-639-1700

5.) 
ComSys S.A.

CCube for Business Intelligence
CCube by Comsys is a business intelligence application, developed for enterprise contact centers. It delivers powerful, and dynamic reporting that enable managers to gain insight into their business. CCube is natively compatible with Aspect Unified IP and Cisco Unified Contact Center (UCCE/UCCX) platforms
Comsys is a provider of οmnichannel customer engagement solutions that assist companies around the world in delivering unique customer experiences. For the last 15 years, Comsys designs and implements complex projects for clients from the outsourcing, financial services, telecommunications, and retail sectors. Comsys enjoys strategic partnerships with technology vendors like Cisco®, Aspect...
(read more)
PH: +302109241486

6.) 
Consilium Software

Consilium UniInsight™
The days of ‘business as usual’ are a distant memory for most of the world. And when it comes to contact centers, balancing between contact channels, deciding which agent locations or teams are doing well, working out how your customer satisfaction is being impacted by the less-than-perfect work environments of ‘lockdown’ agents…leaders are often at a loss when trying to get such insights from their contact center data. As the technology and business landscape changes, so too must the contact center reporting and analytics solutions that power decision making and performance management. With the new release of Consilium UniInsight™, we have tried to deliver contact center reporting and op...
(read more)
PH: (+61) 406 501 368

7.) 
CUSTOMER SQUARE

CROSSCRM.CX - CRM Dataviz Module
CROSS-CRM manages daily interconnection with your CRM tools to centralize data and analyse CX on all channels, and is able to provide deep analytics insights.

All the Kpi’S are here for precise control of your Customer Relationship : Interactions - Quality - Satisfaction - Campains forecast MyClient

Filters, Data Extraction, Custom Views, dates sheets, email subscriptions, xls Extracts, images, pdf


PLUS ! Automated extracts
for integration to third party applications.

8.) 
Daisee

Daisee
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
(read more)
PH: +61404697151

9.) 
DialogTech

DialogAnalytics™
Powered by AI, DialogTech’s DialogAnalytics analyzes conversations to provide marketing and sales teams a wealth of insights for smarter optimizations. With the power of conversation intelligence, you can learn which channels, ads, keywords, and webpages drive the best sales calls, if the caller converted, and more.

AI analyzes how calls are handled at locations and call centers to detect issues that negatively impact ROI. See what percentage of calls go unanswered and who is best (and worst) at converting callers to appointments and customers. Get email alerts when phone leads are mishandled at locations so those leads can be called back right away.

With DialogAnalytics, you can get a...
(read more)

10.) 
eGain Corporation

eGain Analytics
eGain Analytics makes it easy to measure, analyze and refine your contact center operations, knowledge and web customer experience. Create informative reports, charts and dashboards effortlessly. Slice-&-dice the data in any number of ways and use it to manage the business effectively.

1. Operational Analytics™ empowers the business to measure and manage the call center directly and without IT involvement.
2. Knowledge Analytics™ provides insight for eGain’s knowledge and AI applications.
3. Digital Analytics™ measures contact center performance within eGain’s digital channel applications.
4. Journey Analytics™ captures customer behavior on the website—identify the churn points and cre...
(read more)

11.) 
ethosIQ, LLC

ethosAnalytics
ethosAnalytics leverages data to provide business intelligence to enhance the customer experience and beyond. The analytics dashboards are customized based on client needs. ethosAnalytics enables data-driven decisions in seconds or minutes - not days or weeks.
PH: 2816165711

12.) 
Lieber & Associates

Contact center Analytics and Metrics
Lieber & Associates provides services to develop, interpret, and improve contact center metrics and analytics. The firm's experience spans forecasting, customer service, order-taking, lead-qualification, sales, segmentation, media-source-tracking, and testing design. L&A's president pioneered segmentation for telephone scripts and the tri-level service level metric. He brings broad analytics experience to contact centers.
PH: +1-773-325-0608

13.) 
Noble Systems

Noble IQ
Turn business insights into actionable intelligence. Noble’s IQsolutions provide you with rich and robust customer data that can transform your business. Automate decision making and campaign management and refine the quality of interactions with precision and efficiency. We have developed proprietary and patented tools to help you make sense of data on your current operations and then help you make strategic decisions to improve performance and efficiency. Identify who your best customers and prospects are and the ideal methods to reach them. Understand what types of campaigns work best for your business and how to optimize underperforming campaigns. And nake real-time decisions rather than looking back to see what went wrong.
PH: +61 (0) 3.9008.1700

14.) 
OpsTel Services

VIEW
With OpsTel VIEW™, you are able to monitor and immediately audit your agent profile data for accuracy and compliance across the entire contact center solution stack.

Features:

*OpsTel VIEW™ tracks down unused stale profile licenses and provides clients with detailed audits explaining their location, current and historical status
*Comprehensive audit across the enterprise, it only takes 10 minute
*Provides a view in to the data accuracy of agent profiles across multiple applications
*Drastically speeds up audit and validation processes
*Validates actions to implement for profile data integrity issues across multiple applications
*Can also assist in ensuring access level compliance...
(read more)
PH: 1+480-435-9390

15.) 
PRILINK

SIP-Trunk Demarc Monitor
Analyzes SIP signalling and RTP audio stream of every call passing through the network demarcation point. Provide a real time 24/7/365 network baseline database that contains the IP bandwidth, call traffic of up to 128 voice groups, Call Detail Record (CDR), call blockage and MOS voice quality. All information are displayed in SIP-Trunk dashboards and are used in many applications, such as Telco collaboration, UC/CC analytics, Work Force Optimization (WFO) and caller identification.
PH: 905-940-8844

16.) 
Vads

Social Media Analytics
Social media analytics is the practice of gathering data from blogs and social media websites and analyzing that data to make business decisions.

Typical objectives of Social Media include increasing revenues, reducing customer service costs, getting feedback on products and services and improving public opinion of a particular product or business division.

Key the activities involved:

Analyzing net sentiment score
Qualitative and quantitative of sentiment analysis
Measure the emotions (6 Emotions) of the consumers
Mapping out all potential advocates
Measuring a nationwide consumer sentiment
Unlimited data extraction & cleaning
Customized positive and negative keywords
Qualitative and quantitative insights & report writing
Measuring the consumer sentiment
PH: 0217991445

17.) 
QPC Ltd.

QPC Live
QPC provides realtime unstructured and structured data analytics solutions and services to contact centres globally.
We provide a complete end-to-end customer integrated offering powered by a Multichannel Intelligence Gateway which collects and inter-relates all customer interactions, from each and every customer contact across an entire contact centre ecosystem, all in real-time.
We also provide solutions for conversational and interaction analytics with solutions from our specialist portfolio.
PH: 00441352705810

18.) 
Tethr

Tethr is a cloud-based conversation intelligence platform that combines AI, machine learning and over a decade of customer experience and sales best-practice research to surface contextual insights from phone calls, chats, emails and other customer interactions. Companies use Tethr to turn large amounts of unstructured voice of customer conversation data into insights they can deploy to improve their customer experience.

19.) 
Trillys Systems

ActuCall
Imagine for a moment that you are a call center manager responsible for generating revenue through signing new customers or up-selling to existing ones. Imagine that your KPI is telling you you have an abandonment rate of 5% and someone comes along and says "No, your abandonment rate or dropped call rate is 13%." .." How do I know? AcutuCall VoIP software application can show you the dropped call data including, originating number and whether it was a network or equipment failure." Now imagine you can see your calls in progress on a mobile app, take your dashboard where ever you go! "What is a lost call worth to you?"
PH: +1 613-521-1639
 



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