New survey reveals the vast majority of insurance customers prefer Conversational AI and messaging experiences
The survey results point to the need for insurers to put AI-powered messaging options front and center to accommodate evolving behaviors. Nearly half (49%) of respondents said the pandemic has made them rethink their medical and life insurance policies, and 63% say they would use an insurer's chatbot that could instantly answer questions, including those related to COVID-19 symptoms and testing.
"The relationship between consumers and their insurers is built on trust, and the vast majority of consumers now clearly report that they trust insurance companies more if they provide the option to message to get advice, ask questions, and even make purchases," said
Key findings of LivePerson's 2020 Survey of
Consumers say conversational insurance experiences are in high demand.
- 75% of consumers say they prefer to have a conversation with someone at their insurance company before making a purchase.
- 70% say they want the ability to securely text or message with their insurance company.
Consumers express high levels of trust in Conversational AI and messaging for insurance.
- 70% of consumers say they trust an insurance company more if associates are readily available via messaging to give advice, answer questions, and help with purchases.
- 71% say they would also trust an insurance company more if it provided personalized service, which Conversational AI can help insurers deliver at scale.
- The vast majority of respondents say they trust chatbots to help them:
- Provide a quote (76%)
- Change address (75%)
- Make a claim (71%)
- Add a member to coverage (74%)
- Calculate a rate (78%)
- Provide a renewal quote (77%)
- Tell them about waiting periods (82%)
- Update billing information (76%)
Consumers are much more likely to buy and continue service if given Conversational AI and messaging options.
- 63% said they were more likely to buy insurance from a company if they had the option to message them instead of just call.
- 65% said they are more likely to stay with an insurance company that offers this service.
- More than half (51%) say they'd purchase more from an insurance company that offered a chatbot concierge to help, as opposed to strictly self-serve.
The world's most innovative insurance brands, like Bupa and
Bupa, an international health insurance and healthcare group with over 33 million customers worldwide, uses LivePerson's Conversational Cloud to connect with customers over Apple Business Chat, WhatsApp, and SMS and complement its Australian-based call center.
"We know our customers lead busy lives, and digital messaging gives them the ability to communicate swiftly with a real person while multitasking at home, at work, or on the go," said
"We are very proud to be leading the insurance industry by deploying bots for several use cases. From simple automations that respond to button clicks to complex uses of natural language processing, we're continuously improving our customer service and simplifying purchasing," said
LivePerson's 2020 Survey of
Click here to view an infographic summarizing LivePerson's 2020 Survey of
LivePerson makes life easier for people and brands everywhere through trusted conversational AI. Our 18,000 customers, including leading brands like HSBC, Orange, GM Financial, and The Home Depot, use our conversational solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. LivePerson was named to
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