Elevating Productivity: Why the Insurance Industry is Adopting the GirikSMS Salesforce Chatbot

Today around 4 out of 5 insurance companies interact with their insurance providers across multiple digital channels. It comes as no surprise therefore that insurance businesses must automate conversations to scale engagement with their customers. This is where GirikSMS Salesforce Chatbot can be very useful.

Chatbots are relatively new to the technology world and constantly evolving. And IT departments across insurance firms are not yet fully aware of the potential of Chatbots in their line of business. The purpose of this blog is to reduce that knowledge gap and highlight the benefits of GirikSMS Chatbot and how you can use them in your day-to-day operations.

GirikSMS Salesforce Chatbot are native to Salesforce which means they can leverage your CRM data to drive powerful and compelling user experiences. They are powered by Artificial Intelligence (AI) and Natural Language Processing (NLP) capabilities to simulate human agents and drive engagement at scale.

Here we list out some of the top use cases for GirikSMS Chatbot for the insurance sector.

Insurance businesses can leverage GirikSMS Chatbots in:

Insurance policies

When GirikSMS Salesforce Chatbot interact with customers or prospects, it can:

Provide customized quotes to potential customers

GirikSMS can collect relevant data and information from potential customers such as income, age, assets (property or vehicle), and health history to provide recommendations on insurance claim allowances, and offer them tailored insurance plans that fit their criteria.

Cross-sell

GirikSMS can leverage CRM data and built-in machine learning capabilities to predict which insurance policies and plans the customer is likely to purchase. GirikSMS can derive insights from customer conversations and their data to offer personalized cross-sell options to them.

Answer customer queries

GirikSMS Chatbot can provide instant information 24/7 to customers about their policy details, what is covered and what is not, quotas and allowances, areas of coverage, premiums, and more:

• Are available 24/7.
• Can answer FAQs.
• Can provide accurate, consistent answers with up-to-date information.
• Provide a secure channel to access and modify personal information without the need for any human intervention.

And when customers come up with complex queries, GirikSMS Chatbot can route the conversation to an agent to resolve their concern.

Claims management

Typically claims processing varies across insurance firms depending on insurance types and internal guidelines. Having said that almost all claims go through the following steps:

Claims filing

Policyholders have to fill up an application form and, in some cases, attach supporting documents to file for a claim. GirikSMS Chatbot can collect the data and associated documents over a chat conversation to expedite the filing process of a claim.

Damage assessment

Based on the type of insurance and the insured asset or entity, physical verification and eligibility are required. GirikSMS Salesforce Chatbot can ask the customer to share pictures and videos of the asset (eg. property or vehicle) to inspect the damage (eg. an accident) and route it to a human agent for further action.can also use machine learning or computer vision technology to verify and assess the damage and ascertain liabilities depending on the policy type.

Claims processing

Once the process of damage assessment and evaluation is completed, the GirikSMS can inform the policyholder of the claim amount and initiate automated payment to the policyholder’s bank account.

Settlement

This is the step when the insurance company pays the processed claim amount to the policyholder. The GirikSMS Chatbot can send proactive information about updates, payment amounts, and disbursement dates to the policyholder.

Fraud detection

Insurance fraud is fairly common in the insurance industry and has a significant impact on an insurance company’s financial health. In fact, in the US alone, insurance fraud costs over 80 billion dollars annually. AI-powered GirikSMS Salesforce Chatbot can assess claims, validate policy details, check on the policyholder’s past history and track record, and run claims through a fraud detection mechanism. After validation, it can either send the claim application to an agent or send payment instructions to the bank to process the claim.

Broker management

Brokers are firms that sell insurance products on behalf of insurance companies. In simple terms, they are authorized insurance product re-sellers.

Q & A

Though brokers are quite knowledgeable on the insurance products they work with, there are occasions when they face complex customer inquiries, or routine queries that take up a lot of their time. Brokers can rely on GirikSMS to resolve these queries quickly so that they can focus on more complex queries.

Communicating new policies

When a customer signs up for a new policy, that broker needs to ensure that the insurance company starts the coverage immediately. Failing to do so could lead to legal claims in case the insured asset (eg. a vehicle) meets with an accident the same day.

Most of the communication about changes in existing policies or new insurance products happens over email making the information exchange between brokers and insurance firms disconnected. GirikSMS App can bridge this gap by enabling brokers to access the latest changes or additions over chat and keep policyholders updated.

In today’s pandemic reality, customers prefer digital interaction. Most industries have witnessed a remarkable spike in digital engagement in this period and the insurance industry cannot afford to be left behind. Our App offer a convenient way for customers to interact with insurance firms, assess products, seek clarification, and purchase, renew, or upgrade policies. All over a chat conversation.

As businesses across industries continue to invest in the disruptive technology of AI, insurance businesses, which have been largely traditional in the way they operate, will witness a marked rise in the adoption of Chatbots to enhance the customer experience.

GirikSMS Salesforce SMS App have been developed by Girikon, a Salesforce Consulting Partner for over a decade. With our extensive expertise and a proven global delivery model, we have helped global businesses across industries leverage the world’s leading CRM platform to drive success.

Want to know more about how Our Chatbot and the power of conversational AI can benefit your insurance business? Connect with one of our experts today.