The Indian insurance sector ranks as the 10th largest in the entire world, and it has been rapidly growing at a CAGR of 16%.

As demand rises, so does competition. Insurers must attract new customers and retain existing ones to stay ahead.

For queries, updates, and claims, insurance companies receive millions of calls daily, and attending them is a task. It, in turn, increases customer waiting time, resulting in dissatisfaction.

Insurance companies are progressively adopting WhatsApp chatbots to enhance the customer journey and automate various service functions.

Mtalkz’s conversational AI chatbots help drive customer loyalty, collect data on user preferences, and help in lead generation.

Since both customers and agents frequently utilise WhatsApp, integrating a WhatsApp chatbot for businesses in the insurance sector can enhance overall customer satisfaction.

This blog discusses how WhatsApp AI chatbots are changing the insurance landscape. 

Also Check: How to Create WhatsApp Channel: A Step-by-Step Guide

Top Use Cases Of WhatsApp Chatbots For The Insurance Sector

It is evident that the insurance sector works 24×7, and utilising chatbots for that can be a game-changer. Using a WhatsApp AI chatbot for insurance makes the collaboration between insurance agents and policyholders more efficient, leading to time savings for both parties.

Here’s how:

  • Lead Generation

WhatsApp chatbots can help generate sales by gathering customer information such as the customer’s name, phone number, email, etc.

You can also send your customers information about the advantages and requirements of insurance, maintaining their interest and ultimately raising the likelihood of converting them into valuable leads.

Additionally, WhatsApp chatbots for insurance can help you automatically determine if there is a good lead by looking at potential customers’ monthly salaries and how much they’re willing to pay for insurance. This way, your company’s representatives will have the correct information to follow up and turn these potential customers into actual clients.

  • Providing Advisory Content

Many people need to be better versed in the concepts of insurance and get overwhelmed with technical jargon.

Integrating a WhatsApp chatbot for business can help provide your customers with Frequently Asked Questions (FAQs), reducing their ambiguity. There’s also an option to offer FAQs in their regional languages using a multi-lingual chatbot. 

  • Granting Policy Information

Searching through a website to find what you need takes much time. Insurance companies can make it easier for their customers using WhatsApp AI chatbots. These bots can help policyholders quickly find the information they’re looking for. 

It also provides another advantage: when the chatbot handles common questions, the human agents can deal with the harder ones.

  • Informed Decisions

WhatsApp chatbots help customers pick the best insurance by gathering information and explaining the different policies. These chatbots assist customers in choosing the right insurance policy by collecting large amounts of data and offering all the support required for the clients to understand each of them. 

Chatbots help consumers select from top policies based on risk profiles and coverage needs.

Chatbots also show the prices and help clients choose the one that suits them. Customers can even make insurance payments through the WhatsApp AI chatbot.

  • Claim Procedures

The typical process for settling insurance claims is usually lengthy and complicated. Many customers express dissatisfaction with the delay in handling claims and the quality of service. 

A WhatsApp chatbot for insurance ensures that all submitted claims are promptly managed, making it easy to submit documents and receive instant confirmation of the claim’s status.

  • Policy Termination

If a customer wants to cancel their policy, they can do so conveniently through WhatsApp chatbots for insurance. Instead of the hassle of calling or emailing an agent, they can communicate their request to the WhatsApp chatbot 

Through a smooth transition from the bot to a human agent, the agent can seamlessly take over the conversation and assist with the necessary steps.

Must Read: How WhatsApp Business API Is Revolutionising the EdTech Industry

Empower Your Conversations With Mtalkz’s WhatsApp AI Chatbot

Chatbots are the fastest-growing brand communication channel. Customers appreciate when a bot can forward them to a real person and help them outside business hours.

With Mtalkz, a WhatsApp service provider, you can build your conversational AI chatbot in simple steps. With our WhatsApp chatbot for business, you can provide 24/7 availability, improved customer experience, increased efficiency, and reduced customer service costs. 

Our chatbots can also provide valuable insights into customer behaviour and preferences.

That’s not all; we offer plenty of pre-programmed templates that can be quickly implemented in your industry for your marketing strategy.

Reach out to us and increase your marketing ROI!