We all know insurance is confusing. All the jargons that come slinging towards a newbie make buying insurance an overwhelming task. Even after a person has bought his car insurance and health insurance, buying home insurance brings a totally new set of complexities. According to this recent survey, 72% consumers feel the insurance terminology is way too confusing.

While insurance marketers are constantly trying to find ways to ease this struggle, potential customers continue to depend on insurance brokers or word of mouth. What these customers are always looking for is a way to talk to someone to clarify their doubts and feel confident while buying the insurance. Large insurance companies can always deploy more manpower to talk to the leads on call and answer their queries. However, for mid-size insurance companies, the challenge of an ROI efficient lead-generation mechanism continues to be a puzzle.

Chatbots increase your lead-generation efficiency

Chatbots are a perfect solution for the marketers of mid-size insurance companies. These automated chat engines have proven to be the right answer for this long-pending question of SME lead-generation.

Chatbots help website visitors with their queries in real-time, you don’t really have to rely on your office hours. But it’s not just about answering questions. An advanced chatbot can actually help the prospect go through the journey of exploring the options and can suggest her the perfect policy for her requirements. A chatbot’s ability to follow up with these prospects is another wonderful power that can turn your lead-gen funnel magical.

Proven by Enterprises, available for SMEs

GEICO, the auto insurance giant from the USA launched Kate; Singapore Life’s chatbot is called SingLife while HDFC Life one of the large private insurance company from India launched their chatbot almost a year ago.

Allstate Business Insurance Expert (ABIE) is the name of the chat expert released by Allstate, one of the largest insurance companies in the US.

Liberty Mutual and SafeCo went a step ahead and released not just text-based but also voice-based chatbots.

Numerous other large insurance companies have stepped in the chatbots domain over the past couple of years. The trend is clear. Despite the initial speculations, chatbot technology has established itself as an essential piece in customer experience.

While these large enterprises have validated the concept, small businesses are not lagging behind. Various SMEs across geographies have been investing in chatbots and many have seen some decent growth in their customer satisfaction. The challenge, however, lies in picking the right solution to fulfill their needs. With dozens of solutions available online, it is tough for businesses to analyze the difference and pick the best. The following sections might be able to help you make a choice.

Morph.ai introduces chatbot suite for Insurance SMEs

Morph.ai has been a pioneer in the chatbot space from the early days of this technology. Having worked with large-scale enterprises for around 3 years, we have now released a series of chatbot suites for SMEs in various domains. The holistic platform helps businesses quickly get started and improvise over time as you see customers flowing in.

Morph.ai offers one of the most user-friendly and rich chatbot suites across the world. With advanced modules for policy quotes, claims, renewals etc. the chatbots built with Morph.ai take the user to conversion through conversations.

The easy to use human interface helps you and your team to take control of any conversation and help the prospect manually. This perfect combination of Human and Machine gives the perfect experience for your prospects. To top it all, MARK – the chat marketing assistant, our proprietary AI engine, does wonders that you can find nowhere else.

 

The Magic of MARK – The Chat Marketing Assistant

Imagine you are the marketing head of a growing SME. You get 20 hot leads every day and you personally talk to them. But to manage the follow-up cycle of this long list, you hire a personal assistant. He keeps an eye on each conversation you had and follows up with the prospect. He manages the time of follow-up for each individual looking at their profile and guessing when they are most likely to respond to the follow-up. He follows-up and schedules further calls on your behalf. His personalized approach makes life very easy for you. So all you can now do is get on the call at the right time and take them to conversion.

A great assistant you have there! But what would happen when the next day you get 50 leads and a 100 on the next day, maybe a 1000 in a day? Even if you hire more such assistants, humans simply can’t scale at such a level of personalization. This is where MARK takes the baton.

MARK is a chat based personalization engine that acts like your assistant, but a trillion times faster.

MARKs unique follow-up approaches take care of an individual’s priorities and personalize the time and content according to each prospect’s convenience. There many nuances that MARK handles in a conversation, like giving a `Skip` button to people not willing to fill in an information or an `unsubscribe` button for people not positive towards follow-ups or regular content. Fake lead detection is another useful task MARK does to tag people who supplied fake information while filling the form and even start of follow-up cycle with these people to furnish the correct details.

There are multiple such inputs MARK adds throughout the conversion cycle, to improve the journey of a lead. These subtle personalizations engage users in a unique way that drive them towards conversion.

Why Personalization❓

Personalization has been always been one of the top needs for marketers. However, they have never been able to do scalable personalization in a lead generation funnel as we have discussed in a separate article on lead generation chatbots.

State of Personalization Report – 2017 by Segment states that just 78% of shoppers are not satisfied with the level of personalization they currently receive. And more interestingly, a Salesforce report suggests that 52% users are willing to share personal data to get product recommendations. The channel of chat is in a unique position to serve this need of the market.

Moreover, chat on a social channel like Facebook or WhatsApp is a highly personal space for an individual and if businesses are intruding in those spaces, they better do it right. You can’t just follow the same process or tools from the “email generation” to engage with people on chat. A spammy email may get ignored due to the smart filtering by the modern inboxes, but an unwelcome message on WhatsApp would not be tolerated. But there is a right way to do it. Just like your assistant would, the tool needs to be aware of the customer and what would be a good time to follow-up with the particular person. If you can manage to chat with a person without bothering him like a typical automation, you can win the game here.

Why Personalization is required for chatbots?

  • People want it.
  • Don’t dare spam on chat.
  • Convert unlike ever before.

 

Interested in some secrets?

We are compiling some in-depth insights into campaign performances, chat marketing strategies and the magic of MARK. Be the first one to get access to the exclusive report. Stay tuned.


Morph.ai is a state-of-the-art marketing automation tool that uses chatbots to boost marketing and lead-generation campaigns for businesses. Request a demo with us today to try out the magic.

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