Digitalizing insurance through conversational customer experiences

Learn how LAQO and Infobip ‘s partnership is digitalizing customer communication in insurance and taking customer experience to newer heights.

Senior Content Marketing Specialist

Razan Saleh

Senior Content Marketing Specialist

As technology evolves, businesses across industries are constantly looking for ways to adapt and leverage its capabilities. The insurance industry is no exception.

With the rise of digitalization, insurance companies are exploring new ways to boost customer engagement, streamline processes, reduce costs, and increase satisfaction. One effective strategy is through conversational customer experience.

Take Croatia Insurance, for example. They launched a complete digital insurance vehicle, LAQO, that offers a fully automated self-service journey through the web. The company was looking for a solution to limit the number of support phone calls and emails while enabling real-time customer service with live agents. This ultimately helped them automate processes, decrease time to resolution, and increase sales.

We sat down with Ana Zovko, Chief Digital Officer at Croatia Insurance and Head of LAQO, to find out what communication challenges insurance companies face today and how partnering with a technology provider can enable digitalized customer communication and more efficient omnichannel conversational experiences.

Top customer service expectations in insurance

Gone are the days when customers had to wait on hold for hours or deal with long email chains to solve an issue or request policy information from their insurance carrier. It is no longer enough to deliver a strong product. Insurance companies must also focus on delivering a robust omnichannel customer experience.

Customers today expect instant, real-time, and personalized support experiences. They want to easily file a claim and access basic info anytime and anywhere.

75%

 of customers expect their insurance providers to leverage new technologies

50%

of customers prefer personalized digital communications from insurance

Insurance companies can improve engagement, increase satisfaction, and boost loyalty by meeting those expectations and allowing customers to resolve issues quickly and over their preferred communication channels. After all, the level and quality of your customer service can make or break the relationship with your customers.

Customer expectations are very demanding today. They want everything now, on-time, and in real-time. They want personalization, simple products and processes with no hassle along the way.

Ana Zovko

Chief Digital Officer, Croatia Insurance

Challenges faced when meeting customer expectations

However, some insurance companies face several challenges when it comes to digitizing processes and meeting customer expectations. Here we list a few:

  • Complex products and policies can make it difficult for agents to effectively communicate and explain the details of policies, leading to customer confusion and dissatisfaction.
  • Simplifying and digitizing lengthy processes, causing delays and further frustration for customers.
  • Having large volumes of customer inquiries and limited resources to handle them, resulting in long wait times and poor resolutions.
  • Finding the right technology to meet rising customer expectations for quick, accessible, personalized communication.  

The insurance industry is riddled with complex products and processes and lots of required legal documents, and building a 100% digital brand meant trying to simplify all of that.

Ana Zovko

Chief Digital Officer, Croatia Insurance

The role of conversational experience in addressing communication challenges

To exceed customer expectations, insurance companies need to adopt new technology, practices, and processes. A conversational customer experience ticks all the boxes. It focuses on building long-term customer relationships that ultimately result in greater customer loyalty, improved brand image, and more revenue.

A Conversational experience uses artificial intelligence (AI) and chatbots to provide customers with instant and personalized two-way communication on familiar channels. It also relies on context and conversations to ensure that both agents and customers can pick up wherever they left off. After all, if there’s one thing customers really hate, it’s having to repeat themselves.

Simply put, conversational customer experiences make it easy for:

  • customers to interact with their insurance provider and receive support anytime and anywhere
  • marketers to engage customers in a conversational manner across their journey – from onboarding to retention
  • agents to provide quick, easy and personalized support

Leveraging conversational experiences can help insurance companies scale communication – and unify internal operations by allowing marketers, agents, and chatbots to work together to deliver one customer experience.

However, finding the right partner and integrating the right platform play a huge role in unlocking the full potential of conversational experiences.  

Key benefits of using AI in the insurance industry

With a strong history of innovation, LAQO wanted to enhance its customer service and provide fast, accessible, and personalized support. Introducing AI has opened up the potential to make this more accessible and efficient. 

Chatbots generally operate 24/7. This means your agency can even process claims and answer simple FAQs even as you sleep. And, when you incorporate AI into the picture, these bots will serve as a transformative force, enabling agents to unlock new levels of efficiency, personalization, and performance.

However, it’s not only limited to that, here are additional benefits of AI for insurance:

  • Real-time customer support
  • Reduced operational costs
  • Increased efficiency in claims reporting
  • Enhanced agent productivity
  • Streamlined day-to-day operations
  • Improved customer experience

Emerging communication channels for insurance

Insurers can rely on AI chatbots to optimize customer engagement and simplify complex insurance processes by taking on the always-on customer service channel. For LAQO, they wanted to have all the necessary tools and channels to provide customers with personalized and accessible communication.

They chose to integrate WhatsAppViber, and Messenger to their communication platform using Infobip’s Conversations API. Adding this channel mix into their customer communication enabled LAQO’s support agents to:

  • Answer all queries in real time
  • Educate customers on complex claims processes
  • Handle sensitive customer data securely
  • Offer personalized recommendations
  • Deliver exceptional conversational experiences

Infobip x LAQO: Taking customer communication to newer heights

As a leader in omnichannel communication, we make sure we can offer our partners and customers the best possible products and services that cater to their business goals. That’s why we constantly look for opportunities to collaborate and listen to their needs so we can co-create the right products and solutions. 

Infobip and LAQO joined forces to digitalize customer communication through conversational experience solutions. Adding new channels and chat apps to LAQO’s customer communication platform helped them automate mundane administrative tasks, streamlined complex processes and led to better agent and customer experiences.

Our omnichannel conversational platform enabled LAQO to engage, support and guide their customers towards making informed decisions. This helped LAQO build trust and long-term relationships, as well as establish itself as an innovative and reliable digital insurance company.

Infobip is helping us personalize our communication with customers including simplifying complex processes and automatizing notifications. Adding Infobip’s solutions has enabled our clients to feel more guided and well-informed.

Ana Zovko Chief Digital Officer

Chief Digital Officer, Croatia Insurance

So, finding the right omnichannel communications partner with a full stack of digital channels and conversational solutions is essential to digitalizing your customer communication. But what’s next for the future of your company’s CX? Let us help you find out!

Start digitalizing your customer communication now!

Sep 29th, 2023
5 min read
Senior Content Marketing Specialist

Razan Saleh

Senior Content Marketing Specialist