Insurance Advisor Bot

CASE STUDY

CLIENT | DIE MOBILIAR
INDUSTRY | INSURANCE
DATE | 2017

Introduction

Die Mobiliar, a leading retail insurance provider in Switzerland, recognized that insurance products can often be difficult for customers to understand.

This lack of comprehension by customers can lead to uncertainty when deciding whether to purchase insurance coverage in specific situations. For example, when booking a trip online, clients are offered luggage insurance or flight delay insurance, and are not sure if they should purchase it or not.

In response to this challenge, Die Mobiliar collaborated with us to develop and implement a virtual assisstant, a chatbot that provides personalized advice on insurance coverage.

The Challenge

Insurance products can be complex, leaving customers unsure about which coverage options are necessary or beneficial in their individual circumstances. This confusion can result in low customer retention, dissatisfaction, and missed upselling opportunities. Die Mobiliar aimed to address this issue by introducing a chatbot that educates customers and offers tailored recommendations based on their unique needs.

The Solution

To help customers make informed decisions, Die Mobiliar added a cutting-edge chatbot to both their website and mobile app. This chatbot was designed to:

• Advise clients about various product coverages, helping them understand the extent and benefits of each option.
• Determine whether customers need specific coverage based on their individual circumstances, eliminating uncertainty and empowering them to make confident decisions.
• Provide personalized recommendations for additional coverage when appropriate, capitalizing on upselling opportunities.
• Help them make decisions when making purchases online, offering a Mobiliar alternative when applicable.

The Outcome

The implementation of the chatbot resulted in several positive outcomes for Die Mobiliar:

• Higher customer retention: By clarifying coverage options and offering tailored advice, the chatbot helped customers feel more confident in their insurance decisions, leading to increased loyalty and a higher retention rate.
• Enhanced customer satisfaction: The chatbot's personalized guidance contributed to an overall improvement in customer satisfaction, as clients felt more knowledgeable and secure in their insurance choices.
• Increased upselling: By identifying situations where additional coverage was beneficial, the chatbot effectively promoted relevant products to customers, resulting in an uptick in upselling and overall sales.

Conclusion

Die Mobiliar's decision to implement a chatbot on their website and mobile app has proven to be a game-changer in their customer experience.

By simplifying complex insurance products and providing tailored advice, the chatbot has significantly improved customer retention, satisfaction, and upselling potential.

This innovative solution demonstrates the power of leveraging technology to enhance the customer experience and drive business success.