Table of Contents
01 State of AI Chatbots in Insurance 2020
02 Remarkable APAC Insurers response to COVID-19
03 Vernacular is a way through for Insurers in India
04 Recently launched COVID-19 Insurance Products in India
05 Telemedicine is the fastest growing use case for chatbots
State of AI Chatbots in Insurance 2020
Personal protection and health have emerged as fast growing concerns for consumers, who are now actively looking towards securing premium digital customer experiences and superior service levels but at reduced costs.
To combat disengagement, conversational experiences will be the key to providing proactive and friendly risk advice for consumers navigating the long recovery phase ahead. AI in Insurance will value at $36B by 2026. Chatbots will occupy 40% of overall deployment, predominantly within customer service roles.
Advanced AI chatbots are primarily used in claims settlement within APAC, while in more developed markets it is evenly split between pre-and post-purchase transactions.
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Remarkable APAC Insurers response to COVID-19
The current pandemic has shattered the business especially in the low-income APAC nations, where the market relies mainly on motor insurance. Insurance regulatory authorities and Governments are responding to protect policyholders’ interests and minimize the impact on the insurance industry. Here are some noteworthy initiatives:
|Country||Response to COVID-19|