Voicebots effectively delivering services for the Insurance sector

Tuesday, February 22, 2022
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With voicebots, there is simply no call waiting time, and services can open themselves up to provide 24/7 assistance 365 days a year. This around-the-clock service is ideal for Insurance companies like Europ Assistance who have seen this impact.

Voicebots are a great option in all sectors. We’ve talked previously about the operational impact of chatbots in charities, but any organisation that spends money maintaining a call centre has the potential to improve their offering by implementing the next level of voicebots as part of their customer interaction strategy while saving money at the same time.

With voicebots, there is simply no call waiting time, and services can open themselves up to provide 24/7 assistance 365 days a year. This around-the-clock service is ideal for Insurance companies, which often employ large numbers of staff, but only for core office hours. Their clients often need them outside of those times.

Callers may require roadside assistance, report a claim, or other insurance-related issues. Regardless of the time of day, voicebots can take information by immediately understanding the context of the conversation and move the caller through the appropriate automated process, thanks to the ever-improving level of speech recognition that is possible. This technology allows Voicebots to do away with the slow and annoying branched IVR method of separating the caller traffic.

Such bots can record information, such as claims details, and then handover to humans to facilitate service. All the relevant data and transcripts are recorded and integrated into the client systems, passing it along to the relevant teams, which can help resolve claims issues, disputes, and security in general.

A recent project with Europ Assistance, implemented a voicebot solution to provide complete roadside assistance 24 hours a day while improving their service availability at peak times. The stated aim of the voicebot strategy was to increase customer satisfaction and improve the safety of their clients by delivering faster interventions, such as roadside recovery. In addition, implementing a bot stood to save them a considerable amount of money while freeing up existing staff to carry out the vital behind the scenes work that only a human can do.

Implementations for Voicebots in the insurance/roadside-care sectors can include:

  • Claims Journeys – By recording the caller’s name, the policy number, vehicle registrations and details of the incident, the claims journey can start quickly, releasing the customer to continue their day, while the transcript of the incident is passed along to the appropriate team to action.
  • Roadside recovery journey – The caller can communicate their location by speech with the support of another channel like WhatsApp if needed, which can then request a recovery unit in minutes. The information is passed automatically on to the most appropriate recovery centre.
  • Cancellation Journeys – Customers come and go, and insurers know that only 2% of those who decide to leave can be turned around. Therefore, making the cancellation process as smooth and easy as possible is considerably more cost-effective, with proof of NCD being emailed upon request, final policy dates confirmed, and the monthly debits cancelled.

These are just a few examples of suitable journeys. Any common query is ideal for voicebots to be the caller’s first interaction. On the rare occasion that the bot cannot assist, it can either directly pass them to the call centre staff or offer an option to leave an enquiry so that staff can call them back.

For the callers, the journey becomes more streamlined. Europe Assistance found that voicebots shaved 3 minutes from peak call-waiting times. Better yet, around 80% of customers that required assistance reported that they were satisfied with the voicebot service. As we covered previously, we do not aim to fool the customers into believing that they are speaking to a person, but instead, we seek to make the voicebot humanistic enough for the caller to relax into the interaction. Satisfied customers are more likely to be retained by the business.

Staff can be better deployed to human-only activities, such as reviewing the claims data to decide how liability should be settled or dealing with details of injury claims. The volume of calls they need to handle is reduced, and this has a long term saving effect as the call centre staff numbers can be reduced as staff leave or are re-deployed.

Companies looking to test the water can choose to pass only a certain number of callers through voicebots, only certain call journeys, or specific insurance brands. This allows any client to establish business case studies and analytics to prove the value of the voicebot service. Disruption Works offers a fixed price pilot scheme, and as the service runs on an operating expense (OPEX) design, there is no significant capital expenditure with which to contend.

Posted by:
Steve Tomkinson
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