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Insurer offers AI applications via WhatsApp

Insurer offers AI applications via WhatsApp
Emma Lunn
Written By:
Posted:
29/10/2024
Updated:
29/10/2024

Best Insurance has launched a WhatsApp ‘apply and buy’ service for accident, sickness and unemployment (ASU) insurance.

The new offering is led by artificial intelligence (AI) and allows customers to manage their insurance journey at their own pace, with no pressure or lengthy phone calls.

Users can get quotes, ask questions, and complete their purchase all within WhatsApp.

Best Insurance plans to expand the AI offering of other types of cover such as life insurance, critical illness cover, pet insurance and gadget insurance.

Best Insurance said the new WhatsApp service is flexible and convenient, offering privacy and control. The platform can handle thousands of users simultaneously, reducing servicing costs, improving efficiency, and ensuring customers get a real-time response.

Kesh Thukaram, co-founder of Best Insurance, said: “We’ve seen a shift in how customers want to interact with us. They are looking for more control and flexibility, especially when dealing with the sensitive information needed for a protection quote. By launching this WhatsApp service, we are meeting those expectations and making the process easier and more convenient.

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“People don’t want to have long phone calls discussing sensitive topics like salaries or medical conditions – especially if they are in open workspaces – and often don’t have all the information at hand. The same is true for online forms: when customers reach a question they don’t have the answer to, they stop the process and often don’t come back.

“In fact, after an initial expression of interest in a product, less than 20% of customers respond when contacted, and the rate is even lower for those under 35.

“But on a platform like WhatsApp, they can control the pace of the conversation, review answers, take their time, and aren’t pressured to make decisions instantly. Two-thirds (65%) of the WhatsApp preferred journey[s] were within normal working hours, confirming our view that customers would prefer to buy personal policies such as unemployment insurance privately on their mobiles rather than work laptops or big screens.”

Best Insurance said that, to date, 30% of customers have chosen to engage over WhatsApp rather than by phone, and 50% of those who had started their journey online then switched to WhatsApp.

Related: Revealed: The best day to buy home insurance