In our latest report we explore the growth of key technology trends including chatbots and voice as a channel. But how is this technology being harnessed in the insurance industry to engage customers in innovative, new ways? We explore 3 of the best examples from Aviva, Prudential Retirement and the Co-op.
Aviva – busting insurance jargon with the help of Alexa
Struggling to tell an annuity from an excess? Aviva aims to make it easier with a new Alexa skill designed to help customers get their heads around the many complex terms used within insurance. The skill can explain over 300 terms – from a premium right through to professional indemnity insurance! All you have to do is Ask Aviva.
Aviva was the first UK insurer to launch an Alexa skill, which it developed in just 12 weeks. And this may only be the beginning of their journey. As Aviva’s Digital Customer Experience Director, Kevin McQuillan, explains in the video below: “This is really a first step. We’re tipping our toe in the water … but in the future, you can expect this to be much more closely linked to your own policies. It is a new way for our customers to interact with us at Aviva”.
Prudential Retirement – a new way to interact with your insurer
Prudential Retirement’s Alexa Skill goes one step further than Aviva’s. It enables account holders to check their account balance, rates of return and loan balance, simply by speaking to their Echo device.
As Prudential Retirement’s Scott Gaul, puts it “people today expect faster and easier ways to keep track of their financial progress.” With this in mind, the firm conducted research into the top three reasons account holders visit the Prudential Retirement website, before building a skill around these needs.
With both Aviva and Prudential championing smart speakers as a new way to interact with customers, we expect to see other insurers starting to follow suit in the coming months.
The Co-op – the world’s first car insurance chatbot
Meet the world’s first car insurance chatbot – designed to keep pace with changing consumer behaviour. The chatbot allows prospective customers to get a car insurance estimate in 30 seconds flat.
The chatbot, which runs through Facebook Messenger, works by asking users to answer four simple questions. It then compares these answers against its database to calculate an average of what customers with similar characteristics have paid in the past. Want to give it a go? Talk to the Co-op chatbot.
With innovation in this space continuing apace, we expect to see ever more insurers tapping into the opportunities created by voice and chatbots. If you’re considering developing your own Skill or chatbot and are looking for further inspiration to inform your strategy, download our full Tech Trends report.