Improving The Customer Experience With A Chatbot

A 2019 ICTA nomination

Toronto, ON (Jan. 14, 2019) – In 2017, iA Auto and Home Insurance Inc. wanted to increase conversion and engagement of the online auto insurance quote. iA Financial Group’s in-house innovation team worked on the “two pictures, one price” concept targeting the millennials. The result was an intuitive chatbot with powerful picture recognition where users can send the picture of their car registration and barcode from their driver’s licence. This version was partly released in production in May 2017 for real-life user testing.

After gathering statistics and user feedback, we learned that only 17% of the users actually used the picture features. We pivoted to another approach using SAAS services to support the chatbot and remove some questions. We also used quick-reply buttons as much as possible. This version was released in September 2017 and engagement (user who started the quote) increased to 82% and completion (users who started and completed the quote) increased to 85%

During this period, the statistics and user feedback showed us that 66% of users wanted to chat with an agent at the end of the quote. In September 2018, we added the “chat with a agent” feature at the end of the quote.

The use of external services to detect the first name, last name and gender based on the full name, the address autocomplete with a map, the live chat software service all in the same visual experience made our online auto insurance quote unique, fast and human.

Finally, the chatbot helped us increase the conversion rate, understand user needs, user behavior and respond faster to demand than we use to with a traditional web form.

Business Impact

The impact of the version released in September 2017 is an engagement rate up to 82% (users who loaded the page and started the quote) and completion (users who started and completed the quote) up to 85%. When we asked users “how would you rate your experience with the chatbot”, 71% rated 4 or 5 out of 5.

Overall, the quick quote enabled us to removed five questions for a total of 22 questions and reduce the time to complete the quote to less than two minutes. The live chat feature helped us connect on live chat with 66% of users who had questions at the end of the quote.

About iA Financial Group

Founded in 1892, iA Financial Group offers a comprehensive range of life and health insurance products, savings and retirement plans (RRSP, TFSA, etc.), mutual and segregated funds, securities, auto and home insurance, mortgages and car loans as well as a host of other financial products and services.

Responsible for the administration and management of over $172.9 billion in assets, our publicly-listed company ranks among Canada’s largest and most prominent insurance companies. Thanks to our conservative investment policy, wise capital management practices and solid risk management culture, iA Financial Group enjoys financial stability and flexibility, which allows it to grow and withstand any potential economic shocks.

Source: iA Financial Group

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