UK customers are already open to utilising chatbots inside numerous elements of the insurance coverage worth chain, regardless of the expertise being at an early and experimental stage in insurance coverage. Customers are extra open to receiving quotes for insurance policies than they’re resolving points with insurance policies, however neither have extraordinarily excessive ranges of opposition.

GlobalData’s 2023 UK Insurance coverage Client Survey discovered that 35.5% of customers would already be comfy receiving a quote from an insurer through a chatbot, and 31.4% can be comfy resolving a difficulty that method. In distinction, solely 18% and 22% respectively felt very uncomfortable with the concept.

This implies insurers can really feel assured about introducing chatbots. Because the expertise improves (boosted by the emergence of generative AI) and customers grow to be extra conversant in utilizing them, then constructive sentiment ought to improve. Present chatbots may be irritating to make use of and have a tendency to have little skill to react to info supplied by prospects. Subsequently, round a 3rd of customers already being open to utilizing chatbots is constructive information for insurers seeking to go on this path. It’s unsurprising than customers had been much less open to resolving a difficulty through a chatbot, as people are much better at resolving issues for the time being.

The extra duties an insurer can full with workable chatbots, the extra time its workers should focus on different areas. In the meantime, chatbots also can supply 24/7 responses and a service that’s each faster and cheaper – finally benefitting each insurers and prospects. The info exhibits that evolving and bettering chatbots is one thing insurers ought to deal with, as there’s already a major proportion of potential prospects who would profit from this.