Convert by ORI for General Insurance
Explore how Convert by ORI solves for use cases for the General Insurance category
General Insurance - Use Cases
Product Discovery and Awareness
How?
AI - led customer - product mapping to drive interactive personalization and scale. Position offering and drive product awareness based on exhibited and underlying behaviour triggers. Nudge the user towards closure with key behavioral and conversational insights that constantly learns and optimizes for quickest path to closure.
Lead capture and Qualification
How?
Using human-like automated conversations to capture leads in a nonintrusive conversational manner. Faster lead collection and qualification processes leading to ease of personal information sharing via a chat interface. Seamless sync with multiple systems such as CMS, CRM, and existing tech stack to enable real time document checks. Live agent handover, with complete context - for fallback instances.
Impact
At scale, can handle an equivalent of 1/2 of the call center traffic, with multi-lingual support. Faster turn around time on leads. Real time customer cohort and ability to apply behavioural analytics. Real time lead qualification and prioritisation. Reduce dependency on live chat agents by up to 80%.
Risk Assessment
How?
Advanced analytics layer syncing with Virtual agent to qualify lead. Real time risk assessment enabling quick turn-around on high intent leads. Enable users to self calculate premium, go on a self-learning product discovery path via an intuitive chat interface. Immediate qualification, approval and decline of lead within one communication channel.
Follow-up, Nurturing & Engagement
How?
Automate multiple use cases with end-to-end, interactive, transactional capability using a single Conversational AI platform across 40+ channels in multiple languages. Handles complex L2 & L3 queries to manage over 70% of customers' most complex queries without agent intervention at accuracy levels upwards of 93%. Update prospects on aspects such as premium rates, special offers, and discounts, family insurance plans, etc. Designed to provide predictive analysis to cleverly gather data from customers’ preferences.
Impact
Predictive analytics engine enables intuitive customer conversations to keep users engaged - lifting response rates by 38-40% and quicker response times. Nudging the user at key intervention points during the decision making and buying process - sharing relevant information etc. Using brand and industry related data to enable competitive benchmarking around plans, pricing, premiums and claim processing to build trust and brand affinity. Sharing key information to drive the prospect to quick closure.
Policy Purchase & Processing
How?
Seamless sync with back-end systems and application processing engine to deliver updates on application stage and timelines. Nudges and updates users on next steps during application processing, information needed, policy processing date, policy add-ons etc. Policy document sharing, invoicing and other details and aspects shared via conversations on messaging channels.
Increasing LTV : Post purchase updates and renewals.
How?
Automates post purchase queries along with Live Agent handover for when needed. Enables proactive updates on policy details, claim processing, premium renewals, check-ups etc. Assistance and information sharing on health (health insurance), vehicle maintenance (auto insurance) in a hyper personalized and context rich format.
Increasing LTV : Upsell and Cross-sell
How?
Seamless sync with marketing automation stack and backend CMS to nudge customers across multiple channels - with contextual and personalized conversations. Building engagement at customers key life stages such as birthdays to create a hyper personalized experience. Tapping into existing customer information to recommend additional suggestive insurance plans, top-ups, add-on packages and multi-year renewal offers.
