- 07.01.2019
- 2 min
- 3
Chatbots arrive in the insurance sector
"Chatbot” is a contraction of “chat”, for discussion and “bot” for robot. On a Web or mobile Internet platform, consumers submit written queries which the supplier can immediately answer via an automated communication service. These “conversational agents” are frequently used in the e-commerce sector and certain insurers are now starting to adopt them. At Crédit Agricole Assurances, several tests are underway.
But why use a chatbot?
It’s smart! The software gradually acquires more language based on the requests (queries) that are submitted to it over time. The more frequently the chatbot is used and the greater its query resolution rate, the more proficient it becomes. If it also has access to the policyholder’s data – in accordance with the legal and regulatory framework, of course – it will be able to respond in a more precise and personalised manner.
Chatbots are always available! Policyholders can contact them 24 hours a day, 7 days a week. However, far from replacing advisors, chatbots give them more time to devote to more complex tasks, from face-to-face appointments to portfolio management.
Do chatbots have limitations?
The answer is clearly yes. Despite the intelligence and constant availability of these conversational agents, they cannot replace a flesh-and-blood advisor. That is why they are often confined to a specific activity. Advisors then take over for more complex or sensitive queries. They embody the insurer’s relationship with policyholders. Chatbots simply supplement and support the customer’s interactions with the insurer.