Are Insurance Customer Service Agents AI Or People?

The insurance claims process is a notoriously difficult space. Everyone knows that customer service is a tricky industry to begin with, but when you factor in major accidents, like those that often follow insurance claims, the process becomes even more high stakes. Many people don’t remember the finer details of their policy, or even what their deductible is.

From the insurance companies standpoint they have to be wary of the myriad of fraudulent claims that come their way. When you get a vulnerable and upset person, interacting with an often suspicious customer service representative, it’s not hard to see how the situation can quickly get out of hand. Which is why many insurers are looking to the future to completely revolutionize the way they deal with customer service. So, how can future technology help? The answer is simple: artificial intelligence.

Conversational Artificial Intelligence (CAI) is a system that allows computers to communicate with people either via a voice conversation, or through text. What sets this new technology apart is that the CAI converses with humans in a way that seems authentic, even to another person. Basically, a working CAI system should work in such a way that a consumer might not even know that they just spoke with a computer program.

This would be a huge boon to the insurance industries customer service and claims processes. By using a computer program to speak with customers insurers can eliminate any accidental misinformation, and answer claims questions much more quickly. A competent CAI program can sort through policy information instantaneously, help define tricky industry terminology (ever wonder what the difference between a copay and a deductible is?) and even generate a claims quote faster than any human can. All of this serves to make the claims and customer service part of the insurance process even easier for the consumer.

Of course, there are huge benefits to be gotten by utilizing a CAI for the insurer too. The obvious benefit being that insurers can cut down on customer service and claims processing staff by putting the bulk of the customer facing work on the shoulders of a CAI program. A CAI program can also save insurers utilizing a significant amount of money by completely eliminating costly errors in claims forms.

A competent AI system that works with the claims process can also help to all but eliminate one of the costliest parts of doing business for an insurer—fraud. According to Forbes, fraudulent claims cost insurers an estimated $40 billion dollars a year. If an AI system can eliminate even a fraction of that it will easy pay for itself and then some.

The future is coming, and artificial intelligence is set to completely transform the insurance industry. From chatbots helping out with customer service, to AI programs analyzing big data and providing more personalized and accurate quotes, to AI in the claims processes making it easier and more consumer friendly. Whether you’re an insurer or a consumer, AI in the insurance world is going to be a huge help to you.