Automate Insurance processes with Adminix

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Challenge

US-based auto insurance provider needed to automate its premium calculation process and integrate a chatbot to improve customer support. The company previously relied on manual data entry, which was time-consuming and error-prone, leading to delays in policy issuance and unsatisfactory customer experience.

Solution

To address this challenge, our team employed Adminix, a robust AI-based low-code automation solution. Leveraging the platform's user-friendly drag & drop designer, we developed an intelligent web-based chatbot dedicated to automating the premium calculation process. The workflow pulled customer's data from various sources, such as the company's website, CRM, and third-party data providers, and calculated the premium based on the customer's risk profile.

This chatbot utilized cutting-edge AI capabilities provided by Open AI and AWS AI services to understand customer queries, assess risk factors, and generate accurate insurance quotes in real-time. The chatbot seamlessly interacted with customers, gathering essential information such as vehicle details, driver history, and coverage preferences. Through dynamic interactions, the chatbot utilized Adminix's capabilities to perform complex quote calculations, considering various factors that influence auto insurance premiums.

Results

By using Adminix to automate premium calculation and integrate a chatbot for customer support, the insurance company achieved significant results, including:

  • Faster policy issuance: The chatbot's accuracy in assessing risk factors and providing tailored quotes led to a 25% increase in conversion rates.
  • Reduced errors: Automated premium calculation eliminated errors caused by manual data entry, leading to more accurate premium calculation and reduced risk of underwriting losses.
  • Increased productivity: Automated premium calculation and customer support speeded up employees' time to focus on more complex tasks, such as claims handling and risk analysis.
  • Improved customer experience: Customers experienced a 40% reduction in the time required to receive accurate insurance quotes, enhancing overall satisfaction with the quote generation process.