How to Use Conversational AI to Qualify Insurance Leads

Published on August 28, 2020

Virtual AI Agents for Insurance Leads Saves Time and Improves Efficiencies

When agents spend their time on mundane and routine tasks, they have less time to provide excellent customer service. Virtual Agents excel wherever there is a lot of repetition, managing a variety of calls from beginning to end, including applications, claims and renewals. By maximizing agent time, they can focus their efforts on complex, high-value tasks. 

The pandemic has further enforced insurance companies to rethink their customer service strategy. Competition for insurance leads increase as processes digitize – comparing quotes before speaking to an agent and even self-service their policies online. If an agent isn’t available to offer a quote or service a claim, the customer simply finds another agency. By offering a Virtual AI Agent for immediate service 24/7, you are mitigating this possibility. 

On top of getting their attention, seamlessly qualifying these leads can also be a significant overhead. It can be difficult, as thousands of agents compete for the attention of a few qualified leads. Getting to these leads before your competitors is crucial for a long-term and lucrative strategy. 

This is where Conversational AI comes into play.

The purchase journey is often paired by fear, anxiety or potential loss of property, health or loved ones. As such, customers tend to be very emotionally invested in the process, making it all the more crucial to provide them with frictionless customer journeys, 24 hours a day, 7 days a week. This will provide customers instant access to the information they require, helping them with the right policies and plans while streamlining routine, repetitive tasks and processes. Something Conversational AI facilities perfectly. 

The need for transparency is also crucial. Customers are continually wary of fine print, which may carry hidden clauses. An omnichannel Voice AI Agent helps insurers present themselves as being MORE transparent in seamlessly closing these informational gaps.

Automating Claims Processing 

An Omnichannel Virtual AI Agent can easily file claims, qualify leads, and offer access to information around policy features, terms and pricing.

Claims processing is probably one of the more important functions for any insurance company. That is because this is where the insurance company actually delivers on their side of the commitment. The reputation for claims is usually an extremely long and tedious process. Now, with the help of Conversational AI and Voice AI, insurance companies can start automating the claims process. The decision to automate repetitive calls should be obvious, given the numerous benefits a company can gain.

Insurance firms are starting to utilize innovative technologies to amplify employees’ work while enhancing the customer experience.

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    Reduced Data Entry

    Additionally, customers are required to fill numerous forms as part of their claims process. Before automation was extensively implemented, entering data into the system was a manual, time-consuming process, although, with AI, this process has become entirely digital.  Since data processing is one of the highest costs incurred by insurance companies, reducing data entry does go a long way in savings.

    What’s Next?

    By recruiting the help of Voca’s Virtual Agents, insurance companies can speed up processes, enhance the customer experience and ensure satisfaction. Virtual Agents allow insurers to scale much faster, more efficiently, and more economically than if they were to use the old-fashioned method of hiring more bodies.

    Interested in improving efficiencies for your insurance company?

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