Auto Insurance Renewal (india)
Renew annual insurance policies via WhatsApp channel and automation.
Skills Utilized
Channels Available
  • Problem
  • Use Case
The Problem
Auto insurance is one of the most competitive segments of the insurance industry. An influx of new players has further intensified competition in the segment. This has made retaining policyholders more important than ever. Maximizing the efficiency of auto insurance renewal processes is a great way to avoid losing out on customers. But, currently, auto insurance companies are struggling to do so. This is due to the traditional insurance renewal processes in place. These processes use calls and emails to drive customers to renew their policies. A change in customer preferences has deemed these communication channels ineffective. Customers, today, expect businesses to use flexible and convenient communication channels. As a result, companies are finding it difficult to contact customers and retain them. This is hurting their revenue and profitability.
The Solution
Meera conversational AI provides companies an effective way to speed up the renewal process. The AI assistant automatically customers whose policy is due for renewal. It does so, by sending personalized messages through WhatsApp. These messages drive policyholders to either confirm or deny the renewal. If the customer responds positively, it passes on the information to the sales teams. The sales team then renews the policy and the document is then sent on WhatsApp itself. If customers deny policy renewal, they are warmed up for calls with sales teams. This enhances contact rates and enables companies to avoid losing out on customers.
  • Enhances Customer Retention Rates

    Meera engages thousands of policyholders at a time. The AI assistant drives them to respond to policy renewal queries. This process prevents any delay in renewals and addresses customer concerns. By doing so, the insurance AI assistant boosts customer retention rates.

  • Boosts Workforce Productivity

    The AI assistant automates auto insurance policy renewals. This frees sales teams to focus on marketing and lead generation.

  • Creates Upselling and Cross-selling Opportunities

    Meera simplifies and streamlines auto insurance policy renewals for customers. In the process, it enhances customer experience quality and satisfaction rates. By doing so, it creates up-selling and cross-selling opportunities for companies.

Use Case