The COVID-19 outbreak has triggered a world of innovation across various verticals. Whether it is automation through AI-powered chatbots or setting up remote offices – technology is facilitating such changes. Widespread digitization has also increased the scope for accommodating augmented technologies that branch out into different areas. Voice biometrics is emerging as one such avenue.
The insurance sector is today at crossroads between digital transformation and customer retention. There is an urgent need to address customer needs, develop new customer acquisition/retention models, and most importantly ensure a great CX.
Managing business operations manually and following traditional methods may be overwhelming for the companies to meet the needs of customers.
According to the Insurance Information Institute (III), the insurance sector is often seen as the late adopter latest technology.
The use of advanced algorithms and Artificial Intelligence can help insurance companies provide a better customer experience at a very low operating expense. Customer Analytics and automation solutions can help insurers reach customers 3X faster at less than 70% of the operating costs and maintain a high degree of customer-centricity.