5 of the world's 10 largest insurance
companies trust Avaamo AI
What if we could make insurance smarter and
simpler for everyone? We have.
Customer Story Overview Insurance Skills

AI that ensures insurance

Avaamo’s industry leading conversational AI powers the world’s largest insurance companies in helping them cut costs, boost sales and improve service efficiency. From helping predict customer needs to detecting fraud in real-time and predicting claims values, Avaamo’s conversational AI is innovating and delivering large insurers a truly 21st century customer service.

Avaamo’s conversational insurance — by the numbers

82k+

Daily customer queries automated

42M

Customer queries resolved over the past year

97%

Interactions handled without human support

500M+

Servicing over 500 million customers in the world.

The rise of the
automated Insurance Agent

Modernizing insurance for the digital era

Quote generation

Our customers include Insurance aggregators, Auto, P&C and Life providers who have automated the advisory process. This leads to processing more volumes including a meaningful increase in lift with reduction in number of human agents required to process the increased volumes of inquiries. An Avaamo powered Digital Advisor can initiate dynamic multi-turn conversations to reduce Quote completions from 72 hours to less than 10mins.

Claims management

Our ability to analyze structured and unstructured data, reference the right policy information, access risk and then make insightful recommendations, has helped customers to reduce the cycle time from first notice of loss to claims adjudication by 50%.

Underwriting

Avaamo technology harnesses domain specific machine learning models to gather details that underwriters need, while also identifying hidden risks. Our technology is by a major reinsurer to conduct assessment that helps the underwriting team assess over 2,500 medical impairments to quickly and accurately bind a policy. Avaamo Conversational AI technology can accelerate underwriting and fast-track claims processing by over 80%.

Skills built for insurance

Avaamo’s pre-built insurance skills combine conversational AI, deep domain knowledge, and integrations to automate and resolve the following usecases:

The Sales Assistant guides customers through the ordering process using Conversational AI deployed on Whatsapp, allowing users to engage with technology on a familiar platform in a human-like contextual conversation.

Capabilities

  • Handles natural language queries across thousands of custom entities created for insurance domain. 
  • Examples of custom entities:  80D, ULIP, Sum Assured, Coverage, Cover, PPF, PPC, GRP, Free Look
  • Instantly generates policy details from the user’s inputs on Assured Sum, Term, Age, Personal Details and Additional Riders
  • Handles questions on different insurance plans
  • Compare plans and most suitable plan. 
  • Information and questions about deductibles, co-pay, etc.  

Things you can say

“I want  life insurance for 10 million for a term of 30 years.”

“If I want an assured sum of 5 million for a term of 40 years, calculate my premium.”

“What are your pension plans for American expats?”

“Get quote for Digishield plan for employees.”

“What’s the difference between copay and deductible?”

“What is my office visit copay?”

“How much would I have to pay out-of-pocket if I visited the emergency room with this plan?”

“I need to find a provider in my area.”

Integrations

insurance integrations

Create Tickets

Capabilities

  • Information about claims
  • Claims related transactions including filing claims
  • Status regarding previously filed claims

Things you can say

“What is my claim status?”

“I have had an accident and I want to file a claim on policy number 4563456.”

“I need to file a health insurance claim  under policy number 34523453.”

“Can you please give me the status of my insurance claim under policy number 5643322?”

“My  motor policy number is 3434343. When will the latest claim be settled?”

 

Integrations

insurance integrations

Track Orders by Order Number

Capabilities

  • Retrieval of policy details and queries on policy
  • Update policy details
  • Ask questions about policy and coverage
  • Ingest your companies documents to create a company knowledge base

Things you can say

“What is the maturity date of policy number 5455666?”

“My policy number is 54545454. Am I eligible for a loan against policy?”

“Is Chiropractic covered?”

“How much of my deductible did I satisfy so far?”

“How much does my plan cover?”

“What is my co-pay?”

“What is the effective date of my coverage?”

“What is my coverage for mental abuse?”

“What is my network in-patient coverage for mental health?”

“What type of coverage do I have?”

Integrations

insurance integrations

Get help for Equipment Repair

Capabilities

  • Internal bot for collection agents. 
  • Shows appointments for the day, locations, rescheduling and payment integration functions.
  • Interactive questions on fund value

Things you can say

“I need to know my fund value today.”

“Hi, my registered mobile number is 866343432. Tell me how much my fund is worth today.”

Integrations

insurance integrations

Status on Debits

 

Capabilities

  • Transparently handles policy purchase options

Things you can say

“I want to buy a Digishield plan of 300000.”

“Hello, my name is John Doe and I need to buy term plan of 10 million for 5 years.”

“Hello, my name is John Doe, male, smoker born on 25/10/1989 and I need to buy term plan of 50k for 5 years and my mobile number is 1231234567.”

Integrations

insurance integrations

Check availablility of parts

Capabilities

  • Premiums related transactions including payments, information

Things you can say

“I want to pay premium for my policy number 56455233.”

“Direct me to pay premium via net banking.”

Integrations

insurance integrations

Avaamo for insurance

The latest news and resources

Casestudy: The rise of the automated insurance agent

Learn how one of the biggest insurers in the world is driving growth with Avaamo.

Casestudy: The largest IVA in the world

See how the Life Insurance Corporation of India uses conversation ai for 290 million customers.

Webinar:  Drive ROI & Productivity in Insurance

Learn how Conversational AI is delivering bottom line results.

 

Experience how Avaamo AI will transform your business