Key Takeaways from If Insurance at the EU Chatbot and Conversational AI Summit
The European Chatbot and Conversational AI Summit recently took place in Edinburgh, where Lina Sundqvist, Nordic Product Owner for Digital Guidance and Conversational AI at If Insurance, gave a compelling keynote speech. In her presentation titled "Digital Customer Service in the Insurance Industry: Scaling conversational AI in the Nordics," Sundqvist shared insights into how If Insurance has successfully implemented and scaled its AI-powered customer service initiatives.
Sundqvist began by discussing If Insurance's initial experience with a rudimentary chatbot. This passive, keyword-based solution lacked integrations and failed to deliver success. This prompted the company to search for a new vendor, ultimately partnering with boost.ai to implement the company’s advanced conversational AI platform. The deployment of Emma, If’s new chatbot, led to a significant decrease in chat volumes handled by human agents.
One of the most striking outcomes was a significant 60% decrease in human contact escalations. Sundqvist also highlighted the impressive CSAT scores achieved with both first-line and second-line VAs, pointing to the positive impact these AI solutions have had on customer satisfaction.
Following this success, If rapidly scaled its operations across Finland and expanded to second-line support internal chatbots for agents in Sweden and Norway averaging between 5,000 to 12,000 interactions per month.
Looking to the future, Sundqvist emphasized the company's goal to develop "Engaging Virtual Agents" – VAs that can carry out tasks, make predictions and recommendations, authenticate customers, and provide personalized suggestions and advice. Sundqvist also remarked that If Insurance is going to focus on testing voicebots to ensure a truly channel-agnostic customer service experience, catering to customers' evolving preferences.
In response to audience questions, Sundqvist reiterated that If does not promote chat as the sole support channel, instead priding itself on offering a choice of channels for customers. With phone contacts decreasing and digital engagement on the rise, the company aims to allow customers to start their journey in the service channel that suits them best, helping guide them more effectively to find the right information and answers easily.
When asked about stakeholder management and key success factors or KPIs, Sundqvist shared that these metrics have evolved over time. Initially, the focus was on reducing volumes and providing correct answers. However, the company has since shifted its focus to engagement and fostering a self-service culture within the digital ecosystem. The company now concentrates on contextual engagement, leveraging digital services more effectively, and helping customers resolve their issues online.
Sundqvist's keynote provided valuable insights into how If Insurance has effectively harnessed the power of conversational AI to improve customer service and scale operations in the Nordic region. By focusing on engagement, embracing self-service, and supporting human agents, companies can significantly enhance their customer experience and satisfaction. With an eye on the future, If is committed to delivering an even more engaging and channel-agnostic customer service experience.