Artificial intelligence for insurers needs cultural leadership and cloud resources

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Businesses and corporations are increasingly interested in applying artificial intelligence (AI) to their operations, but are falling behind in implementing AI, according to a survey report by Relevant talkdesk for insurtech.

Insurance has an “increased challenge of being able to make organizational life and culture lead to adoption and adoption of AI,” said Antonio Gonzalez, senior director, industries and AI research. AI at Talkdesk.

Ilya Filipov, Director of Financial Services Industry Strategy, Talkdesk

Nancy Roche

Talkdesk surveyed 500 customer experience professionals in the US, Canada, France, Germany and the UK, including approximately 7% of respondents from the financial services industry, including insurance. 85% of these professionals said leveraging AI and automation was important, while 35% said their organizations were advanced in their application of AI, compared to 41 % in last year’s edition of the survey.

44% of respondents said customer experience agents have the skills to take advantage of AI technology, an increase from 37% last year. However, according to Talkdesk, respondents still report a lack of AI professionals capable of building, training and maintaining AI solutions. Particularly in insurance, there is more turnover, according to Ilya Filipov, director of financial services industry strategy, Talkdesk.

“Insurance is a complex subject and the work is very difficult compared to the remuneration,” he says. “Nobody calls the insurance companies because they’re happy. Customers can yell on the phone about exclusions in their business interruption coverage. The agent must explain the contract to them and at the same time calm them down. The AI ​​allows them to take the script they’ve been trained to use and calm the customer down, or even come up with a solution. »

Insurance companies need executive buy-in to push AI efforts, adds Filipov. “AI is generally not managed from the bottom up,” he says. “Companies that successfully implement AI into their digital customer experience have strong leadership-level sponsorship.”

According to Gonzalez, the value of cloud computing resources can help gain buy-in from senior executives and overcome typical barriers to AI implementation.

Contact center infrastructure can be a challenge for customer experience professionals looking to implement advanced AI solutions, and moving contact centers to cloud infrastructure makes it easier to leverage the ‘IA, according to Talkdesk research. 75% of respondents said AI technology secures customer data and 50% said their current contact center architecture can only support less efficient AI solutions.

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