The big international companies increasingly use the new technologies based on artificial intelligence, as these can evolve the interaction among the service providers and the users. An example can be on online virtual assistant who speaks with users in all languages and adapt to their “style” and demands.
The aim is to be even closer to the customers with an offer of services provided via APPs, based on the AI. This approach can provide the user with a totally different experience: the so-called “social customer care”.
In a world in which people live constantly with their mobile devices, the artificial intelligence gives users the possibility to talk with anyone in real time via textual platforms and messaging applications. Conversations become then a marketplace where companies meet their clients and interact in a smart way with the benefits of high value, simple and immediate services.
More than 10,000 companies in 2016 started developing chatbots, AI software, that can simulate a smart conversation on a chat, allowing companies to offer a functional and support service through messaging platforms by giving the user the possibility to directly interact with the system.
Artificial intelligence also provides new opportunities to the insurance industry by allowing the Insurer to offer the most suitable solution to the customer in real time.
The data analysis is not a news in Insurance, as it is an industry based on risk analysis, but the artificial intelligence can even expand the amount of data and the way they can be used.
The possibility to analyze large amounts of data in a very short time, with self-learning processes capabilities is a great value opportunity to create “tailor made” services based on users’ needs in order to overcome the challenges of digital transformation and to offer to the users an innovative customer journey.
These new tools allow Insurers to offer benefits such as increasing the quality of the services (with lower costs) that are more appealing than traditional products.
Those organizations that aim to evolve their offering with high value services by new technologies with benefit from this transformation and they will interact with the customer with new digital paradigms.
But, benefits are clear also for customers as there will be more dynamic products where insurance coverage will be integrated into a wider service.
This new tools offer the opportunity to revolutionize the Policy Administration System by expanding the insurance impact both on the customers lived and on the interaction with the insurer, using natural conversations to find immediate answers to their needs. The future of artificial intelligence will find an application also in the insurance market, revolutionizing processes the communication strategies and the driving forces behind this phenomenon will be the virtual assistants already in use by the giants of the web.