Customers have more choice than ever when it comes to selecting and purchasing insurance products. Online-only insurers are challenging traditional brick-and-mortar firms, and those firms in response are quickly adapting their digital strategies to retain the customers they have and find new ones. In addition, insurers are struggling to keep up with swelling consumer demand for digital services such as making payments through mobile apps, virtual home assistants and other channels. For many firms, current support operations simply cannot keep up with spiking consumer volumes, impacting overall customer service and satisfaction, and cutting into revenue and margins.
Amelia, IPsoft’s digital colleague, provides a de-risked approach to scale with measurable ROI through her ability to interact, learn and think like a human with the precision, speed and accuracy of a machine.
Amelia can handle a range of insurance processes and transactions, including Quote to Cash, billing, payments and underwriting, as well as functions for a company’s internal IT service desk. Thanks to her self-learning and training ability, Amelia is always up-to-date with the latest industry regulations and procedures, keeping an insurer in full compliance.
Amelia can be deployed as a digital colleague for internal staffers or external customers, reducing support costs, increasing productivity, and elevating consumer experiences. Amelia can be ramped up to address high call and support volumes 24/7; she grows with your business, without the need to hire additional people, keeping training and onboarding costs in check. Amelia can build personalized connections with colleagues and customers thanks to her unique ability to detect sentiment and respond with emotion.
For one of the largest life insurance companies in the US, Amelia was hired to shorten the resolution time of high-volume inquiries from customers and employees. This company hired Amelia over standard chatbot solutions because it wanted an AI-powered digital colleague that could understand the intent of a request, address it accurately, and do so in a conversational, humanlike way. On the employee side, Amelia responded to health benefit questions; on the customer side, she handled address changes, loan requests and changing the frequency of account payments. Not only did she cut resolution times, but Amelia’ success rate at recognizing conversations hit 90% in certain scenarios.
For insurance company employees, Amelia can become a trusted and valued colleague, as she takes on many repeatable tasks at scale, allowing employees to use their unique skills and talents elsewhere. For example, non-licensed insurance agents are not permitted to advise on or sell certain products and services. At another large insurance company, when non-licensed agents receive a customer call, they can quickly interact with Amelia and determine whether they can assist that customer. If so, Amelia will use her knowledge to coach her coworker through the engagement; if not, Amelia will help the coworker refer the customer to a licensed colleague who can. Amelia’s ability to learn new processes once and then rapidly engage on them company-wide allows her to scale on-demand, providing the same quality of service in hundreds of interactions.
Amelia is the best choice for insurance companies that want to deploy a digital colleague to control high call volumes, keep costs in line, and bring innovation to their customers and employees.