“ AI and automation are not static solutions ; they are tools that continually adapt to align with consumer needs and business objectives ”
LAUTARO MON CHIEF PRODUCT OFFICER ,
GUIDEWIRE
Lautaro Mon AI is profoundly enhancing the personalisation of sales in the insurance industry . By leveraging technologies like virtual insurance agents and chatbots , insurers can gather critical insights into customer preferences , needs , and lifestyles .
For instance , intelligent , human-like avatars interact with potential customers through social media platforms or websites , asking questions that help in understanding the customer better .
This interaction allows for the creation of highly tailored insurance plans , which not only resonate with the customer on a deeply personal level but also increase the success rate of sales efforts . This synergy between AI and human expertise offers a unique , datadriven strategy to connect with customers more effectively .
John Beal It follows that the more you can understand about a customer and their assets such as their home or vehicle , the more personalised the experience an insurance provider can offer .
It starts with better communication based on a better understanding of customer needs . Consider the volume of customer data held by insurance providers in claims , marketing , and underwriting – often held in different silos , sometimes in different sub-brands .
AI and ML techniques can help make quick and accurate sense of that data . This becomes all the more important in a market rife with merger and acquisition activity giving insurance providers a more holistic view of that individual to best support their needs . insurtechdigital . com 77