“Increasing Use of AI-Driven Chatbots and Virtual Assistants”
- One prominent trend in the global artificial intelligence (AI) in insurance market is the increasing use of AI-driven chatbots and virtual assistants
- This trend is driven by insurers integrating conversational AI to handle inquiries, process claims, and offer personalized policy recommendations, reducing response times and improving efficiency
- For instance, GEICO’s virtual assistant, Kate, provides policyholders with real-time assistance, while Lemonade’s AI chatbot, Maya, facilitates seamless claims processing within minutes
- The increasing demand for digital-first, 24/7 customer service is accelerating the adoption of AI-powered chatbots in the insurance industry
- As insurers seek to reduce operational costs and enhance user experience, the role of conversational AI will continue to expand. Future advancements in emotional AI and voice recognition are expected to further refine chatbot capabilities, making interactions more human-like and personalized
