The Chatbots In Insurance Playbook: Case studies on how three insurers are using chatbots to boost customer acquisition, slash claims processing times, and increase staff productivity

Executive Summary

The insurance sector has been far behind other sectors of financial services when it comes to delivering on customer engagement—but today, insurers are tapping advances in chatbot technology to deliver frequent and individualized customer interactions.

Three Key Questions This Report Will Answer:

• What's the size of the chatbot opportunity across the insurance industry?
• How can insurers implementing chatbots measure the maturity level of their solution and how can they best transition along their transformation journey?
• How are leading insurtechs and insurers leveraging the tech to transform their businesses?

WHAT’S IN THIS REPORT? In this report, Insider Intelligence will look at how three insurance players at different stages of chatbot transformation maturity—Lemonade, Zurich UK, and Future Generali India Life Insurance—are successfully deploying the tech. To this end, Business Insider Intelligence developed the Chatbots In Insurance Digital Maturity Model, which is intended to help firms to measure themselves across the four key dimensions of chatbot maturity: functionality, scale of deployment, end-user experience, and business outcomes. The report also shares the global annual cost savings from chatbot automation across the insurance industry, which we expect will surge to $5.8 billion in 2025 from an estimated $0.5 billion in 2020.