By Srini Vinnakota, VP Product, Avaamo
Almost everyone can remember a stressful moment when they needed to contact their insurance company about a claim. In many cases, people call their insurers after difficult life events like a serious illness or a car accident. While customers want their cases to be handled quickly, they also want to know they will be supported and can get the answers they need. It’s a tough process for both customer and insurer.
Conversational AI – – a system that allows customers to have a conversation with a computer via text or telephone — is changing how the claims process works from first call to claim. With conversational AI, insurers can easily handle the increased volumes of calls and inquiries. As a result, the claims process can drop from a typical 72 hours to minutes.
In addition, a virtual assistant is also able to better route questions and inquiries so they are quickly resolved, with the correct advice. The virtual assistant can do all of this while following compliance and security guidelines required by insurance companies and ensuring that claims operating procedures for improved financial results are followed to a tee.
The system also benefits insurance companies, who have to navigate fraudulent claims as part of their daily business. Conversational AI can ensure insurers are following compliance and security guidelines and enforce strict adherence to detailed claims operating procedures for improved financial results. Here’s how it works, from the first customer interaction with an insurer to a claim.
Fixing The Process From First Interaction To Claim
Fixing the claims process has to start long before members file claims, when a member is wondering which insurance plan…