Chatbots Growing in Importance as Part of Hybrid Service Strategies for Insurers

Successful implementation will blend both human and automated capabilities: Novarica

Boston, MA (Apr. 2, 2019) – Insurers are increasingly considering chatbots to deliver a frictionless, simplified customer experience. In a new report, Chatbots in Insurance: Overview and Prominent Providers, research and advisory firm Novarica provides an overview of insurance use cases, the state of chat technology, its intersection with artificial intelligence, and managing potential customer concerns.

“Chatbots have the potential to free up resources for more high-value work, while simultaneously providing more options to engage with customers in the manner they choose, increasing policyholder and agent satisfaction,” said Jeff Goldberg, Executive Vice President of Research and Consulting and co-author of Novarica’s new report. “Although chatbots can offer gains in customer service, insurers should proceed with caution when implementing this technology. Some self-service functions are ripe for chatbot usage, but others may require a more human element.”

Providers profiled in the brief include Elafris, Hi Marley, LeO, Spixii, and others including Avaamo, Glib.ai, IBM Watson, Interactions, Pypestream, Rozie AI, Sentimer, SmallTalk.Agency, and [x]cube LABS.

A preview of the brief is available online.

Summary

Insurers are increasingly interested in chatbots for call centers and self-service portals, as an opportunity for a low-cost, low-touch, modern channel. As the technology continues to mature, both tech giants and startups are trying to gain a foothold in the space.

Click here for the table of contents or to access the report.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.

Source: Novarica

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