Digitalizing insurance through conversational customer experiences

As technology evolves, businesses across industries are constantly looking for ways to adapt and leverage its capabilities. The insurance industry is no exception.

With the rise of digitalization, insurance companies are exploring new ways to boost customer engagement, streamline processes, reduce costs, and increase satisfaction. One effective strategy is through conversational customer experience.

Take Croatia Insurance, for example. They launched a complete digital insurance vehicle, LAQO, that offers a fully automated self-service journey through the web. The company was looking for a solution to limit the number of support phone calls and emails while enabling real-time customer service with live agents. This ultimately helped them automate processes, decrease time to resolution, and increase sales.

We sat down with Ana Zovko, Chief Digital Officer at Croatia Insurance and Head of LAQO, to find out what communication challenges insurance companies face today and how partnering with a technology provider can enable digitalized customer communication and more efficient omnichannel conversational experiences.

Gone are the days when customers had to wait on hold for hours or deal with long email chains to solve an issue or request policy information from their insurance carrier. It is no longer enough to deliver a strong product. Insurance companies must also focus on delivering a robust omnichannel customer experience.

Customers today expect instant, real-time, and personalized support experiences. They want to easily file a claim and access basic info anytime and anywhere.

Insurance companies can improve engagement, increase satisfaction, and boost loyalty by meeting those expectations and allowing customers to resolve issues quickly and over their preferred communication channels. After all, the level and quality of your customer service can make or break the relationship with your customers.

However, some insurance companies face several challenges when it comes to digitizing processes and meeting customer expectations. Here we list a few:

To exceed customer expectations, insurance companies need to adopt new technology, practices, and processes. A conversational customer experience ticks all the boxes. It focuses on building long-term customer relationships that ultimately result in greater customer loyalty, improved brand image, and more revenue.

A Conversational experience uses artificial intelligence (AI) and chatbots to provide customers with instant and personalized two-way communication on familiar channels. It also relies on context and conversations to ensure that both agents and customers can pick up wherever they left off. After all, if there’s one thing customers really hate, it’s having to repeat themselves.

Simply put, conversational customer experiences make it easy for:

Leveraging conversational experiences can help insurance companies scale communication – and unify internal operations by allowing marketers, agents, and chatbots to work together to deliver one customer experience.

However, finding the right partner and integrating the right platform play a huge role in unlocking the full potential of conversational experiences.  

With a strong history of innovation, LAQO wanted to enhance its customer service and provide fast, accessible, and personalized support. Introducing AI has opened up the potential to make this more accessible and efficient. 

Chatbots generally operate 24/7. This means your agency can even process claims and answer simple FAQs even as you sleep. And, when you incorporate AI into the picture, these bots will serve as a transformative force, enabling agents to unlock new levels of efficiency, personalization, and performance.

However, it’s not only limited to that, here are additional benefits of AI for insurance:

Insurers can rely on AI chatbots to optimize customer engagement and simplify complex insurance processes by taking on the always-on customer service channel. For LAQO, they wanted to have all the necessary tools and channels to provide customers with personalized and accessible communication.

They chose to integrate WhatsApp, Viber, and Messenger to their communication platform using Infobip’s Conversations API. Adding this channel mix into their customer communication enabled LAQO’s support agents to:

As a leader in omnichannel communication, we make sure we can offer our partners and customers the best possible products and services that cater to their business goals. That’s why we constantly look for opportunities to collaborate and listen to their needs so we can co-create the right products and solutions. 

Infobip and LAQO joined forces to digitalize customer communication through conversational experience solutions. Adding new channels and chat apps to LAQO’s customer communication platform helped them automate mundane administrative tasks, streamlined complex processes and led to better agent and customer experiences.

Our omnichannel conversational platform enabled LAQO to engage, support and guide their customers towards making informed decisions. This helped LAQO build trust and long-term relationships, as well as establish itself as an innovative and reliable digital insurance company.

So, finding the right omnichannel communications partner with a full stack of digital channels and conversational solutions is essential to digitalizing your customer communication. But what’s next for the future of your company’s CX? Let us help you find out!