Chatbot for Agents of Life Insurance

The Insurance industry is undergoing a perfect storm. Changing customer demands, advancements in AI technology, and a move towards digital and mobile channels are causing a tectonic shift. Post pandemic digital channels are experiencing heavy traffic and the maximum amount of business is generated via mobile channels like Apps and now even social media.

What Insurance Companies can do to adapt and
overcome the Industry Change

Technology is creating a wealth of new possibilities. The advent of the Chatbots creates opportunities for insurance agents to make use of unprecedented channels such as Facebook Messenger, WhatsApp, SMS, Amazon Alexa, Google Assistant, Siri, etc. for their end customers. Advances in Artificial Intelligence (AI) are allowing insurance agents to shift through these channels quickly and efficiently, enabling more personalized approaches to increase sales, reduce operations costs, and to saves time & effort. 86% of Insurance CEOs believe the technology advancements like Artificial Intelligence (AI), Chatbot, Natural Language Processing (NLP) have changed the business completely over the past 3-5 years.
Streebo a leading AI and Digital Transformation Company has created a highly intelligent bot that is guaranteed to be 99% accurate. Streebo’s Pre-trained AI-Powered Life Insurance Agent Chatbot can help agents with a variety of common Insurance functions including create a quote, sign up a new customer, issue the policy and even filing of claims. These bots are pre-integrated with a wide variety of Insurance Solutions such as Ingenium, Genelco and even IBM’s AS/400 systems among others. Moreover, these Bots leverage leading NLP engines such as IBM Watson, Google Dialog, and Amazon Lex thus making them very smart. With Streebo’s 24X7 available Conversational AI for Life Insurance Agent, Insurance companies can improve their customer satisfaction by an average of 23% while reducing their call center costs as well. That’s why this AI-powered Insurance Agent Chatbot has a powerful ROI as it can improve sales, can assist with cross-sell & up-sell while reducing costs for organizations deploying them.

Business Benefits of Deploying a Life Insurance Agent Bot

Insurance Businesses that have deployed Bots to assist their insurance agents have realized measurable benefits including a saving of about $0.60 per chatbot interaction.

Other benefits include:
Chatbot-for-Agents-of-Life-Insurance Choice of Communication Channel
Agent gets to leverage existing digital properties like website and mobile App along with multiple digital channels such as WhatsApp, Facebook Messenger, SMS among others to easily reach out to their leads and prospects
Chatbot-for-Agents-of-Life-Insurance Reduced Workload
Streebo’s Life Insurance Agents Chatbot acts as an agent for low complexity policies, and helps purchase or initiates a purchase, of simple policies. They can also perform plenty of low-complexity service requeststhus allowing agents to focus on complex cases.
Chatbot-for-Agents-of-Life-Insurance Underwriting Assistance
Conversational AI Life Insurance Agent communicates with all parties (agent, carrier, prospect) on basic underwriting questions, seeks additional or missing data to perform the underwriting process.
Chatbot-for-Agents-of-Life-Insurance Reduced Cost
Having a Conversational AI Life Insurance Agent in your Force results in a decreased operational cost and remarkably increases the conversion rate on an average by 15%.
Chatbot-for-Agents-of-Life-Insurance Expand Agents Network
Significant growth in Agent’s Network as more and more agents will join for the perks of increased revenue & better customer outreach compared to other insurance companies
Chatbot-for-Agents-of-Life-Insurance Increase Productivity
NLP improves Agents’ productivity by automating business processes, thus allowing them to work more effectively thus increasing their bandwidth..

Insurance Bots for Agents extended on Web, Mobile and Social Media Channels

Chatbot-for-Agents-of-a-Retail-Bank WebApp
Chatbot-for-Agents-of-a-Retail-Bank FB Messenger
Chatbot-for-Agents-of-a-Retail-Bank WhatsApp
Artificial-Intelligence-Powered-Bot-for-Healthcare-Pharmacy-Dealer SMS

Why Streebo’s Insurance Bots for Agents

Streebo in collaboration with leading technology organizations like IBM, RedHat, Google, Amazon, and HCL Technologies has created a powerful and secured solution.

Key differentiators of Streebo’s Pre-Trained and pre-integrated AI-Powered Insurance Bots for Agents are as follows:
Chatbot-for-Agents-of-a-Retail-Bank Built-in Domain Intelligence
Streebo’s Team has decades of experience in building apps for the Life Insurance Industry. Thus, Streebo deploys highly intelligent pre-trained Insurance Agent Bots that can emulate most business processes.
Chatbot-for-Agents-of-a-Retail-Bank Omni-Channel Experience
Streebo’s Insurance Agent Chatbot can be deployed across social media channels such as FB Messenger, WhatsApp, WeChat, Skype, and even SMS. They can even handle voice channels such as IVR, Amazon Alexa, and Google Home. Bots can even be deployed to existing digital properties such as the website and mobile App.
Chatbot-for-Agents-of-a-Retail-Bank Flexible Deployment Models
Streebo’s Pre-Trained Conversational AI Insurance Agent can be deployed on-premise or on IBM Cloud, Microsoft Azure, Amazon AWS, or Google Cloud Platform.
Chatbot-for-Agents-of-a-Retail-Bank Accurate Responses
Streebo Chatbot comes with Guaranteed Bot Intelligence Index* of 99% (*BII= No. of questions answered correctly/No. of relevant questions asked)
Chatbot-for-Agents-of-a-Retail-Bank Pre-Integrated with Backends
Streebo’s Insurance Bot for Agent comes in pre-integrated with Core Insurance Solutions like Ingenium, IBM AS400, Genelco, among others.
Chatbot-for-Agents-of-a-Retail-Bank Advanced Chat Analytics
Streebo’s analytics dashboard is developed to record and display systemic data, metrics, preferences, and trends which eventually help in monitoring user interactions, and can be adapted accordingly to give relevant responses and take business decisions.
Chatbot-for-Agents-of-a-Retail-Bank Lower TCO
Streebo’s Pre-Trained Insurance Agent Chatbot is built using open standards such as Java and JavaScript. Streebo’s bot builder is optional development-only tooling that customer can choose or they can directly develop and manage it using standard IDEs such as Eclipse and Visual Studio that significantly lower app development costs as well as reduced support & maintenance costs.

How a Life Insurance Company has Transformed its Customer Acquisition using AI Powered Chatbot

Our AI-Powered Life Insurance Chatbot for Agents Supports Below Features

Chatbot-for-Agents-of-a-Retail-Bank Omni-channel Solution
Chatbot-for-Agents-of-a-Retail-Bank Multi-Lingual
Chatbot-for-Agents-of-a-Retail-Bank Inbuilt Live Agent Support
Chatbot-for-Agents-of-a-Retail-Bank Supports Voice and Chat
Chatbot-for-Agents-of-a-Retail-Bank Secured
Chatbot-for-Agents-of-a-Retail-Bank Advanced Analytics

Our Pre-trained Life Insurance Bots for Agent are trained in the following Operations

Chatbot-for-Agents-of-a-Retail-Bank FAQs (Frequently Asked Questions)
Chatbot-for-Agents-of-a-Retail-Bank Branch Locator
Chatbot-for-Agents-of-a-Retail-Bank Browse Policies
Chatbot-for-Agents-of-a-Retail-Bank Generate a Quote
Chatbot-for-Agents-of-a-Retail-Bank Purchase a Policy
Chatbot-for-Agents-of-a-Retail-Bank File a Claim
Chatbot-for-Agents-of-a-Retail-Bank Make Premium Payments
Chatbot-for-Agents-of-a-Retail-Bank Upload Documents
Chatbot-for-Agents-of-a-Retail-Bank Manage Service Request
Chatbot-for-Agents-of-a-Retail-Bank Check Claim Status
Chatbot-for-Agents-of-a-Retail-Bank Feedbacks & Reviews
Chatbot-for-Agents-of-a-Retail-Bank Offers and Promotions

Pricing Options

MVP (Minimum Viable Product) Bot includes

Chatbot-for-Corporate-Banking 3 transactional use cases
Chatbot-for-Corporate-Banking 1 backend integrations
Chatbot-for-Corporate-Banking 50 FAQ’s
Chatbot-for-Corporate-Banking Channels – Web, Mobile App, 1 Social media channel such as WhatsApp/Facebook Messenger

Capex Option

Chatbot-for-Corporate-Banking You can choose to buy the MVP Bot.

Opex Option

Chatbot-for-Corporate-Banking You can choose to Subscribe to the MVP Bot at a monthly charge with no upfront setup fee.

Pay Per Usage

Chatbot-for-Corporate-Banking This is a conversation-based subscription and tied to the number of conversations, hence there is no constraint on the scope.

Check out this video to see our Bot in action!