THE NEW FACE OF THE CUSTOMER EXPERIENCE
Within the next three years, insurance customers may spend as much time engaged with AI as talking to company employees or agents. Advice will remain a pillar of the client relationship for many insurers, especially for life products, but it will be offered as a combination of algorithm-based automation and person-to-person interaction.
Customers will base their opinions of and interest in a company on the company’s AI, just as they judge by their experiences with human employees. Yet the benefits insurers may gain are immense. Instead of interacting with only one person at a time like a human representative, an AI system can interact with an infinite number of people at once.
AI-supported relationships can exist and grow across interfaces and communication styles: text-based chats, spoken conversations, gestures, or even virtual reality. People can choose how much and what kind of interaction they want to have with the company at any given time. Not only can AI maintain a consistent brand experience through every interaction; it can also use learning capabilities to tailor that experience to each individual, and evolve the experience to react to any new product or strategy the enterprise wants to implement.
What’s more, many insurance customers are already prepared to buy and seek service and advice from AI. Accenture research indicates that 74 percent of insurance customers are willing to receive computergenerated advice about the type of insurance coverage to purchase.
75% of insurance executives believe AI will transform or bring significant change to the industry over the next three years.
To bring to life the promise of AI across an interface, businesses must redesign their existing systems to support its features and technical dependencies. That means developing AI capabilities within UX/UI teams, and training them to take advantage of existing AI toolkits. It also means changes to business processes and infrastructure.
Insurers will need to develop the necessary connections between systems and interfaces and then between different points of interaction. Robust sets of data are needed from every channel—not only initially to train the AI to interact with customers and employees, but also for it to continuously learn how those interactions should evolve over a lifetime.
AI-enabled interactions are ushering in an era of disappearing technology. Deploy AI well across company interfaces, and customers no longer need to understand complicated technology to use it: they can simply talk to, gesture at, or touch the AI that controls it. Put simply, invisible technology gets more use.
83% of insurance executives agree AI will accelerate technology adoption throughout their organization.