More Related Content Similar to Automating Quote Generation for Insurance (20) More from AutomationEdge Technologies (20) Automating Quote Generation for Insurance2. © 2023 AutomationEdge. All rights reserved. Value Led Hyperautomation
Challenges in Insurance Quote Generation
Unavailability Of The
Updated Data
Human
Errors/Erroneous
Output
Lengthy And Time-
consuming Quote
Generation
Missed Sells
Opportunities
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How does Automation Transform the
Quote Generation Process?
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1. WhatsApp and Email Automation
Capture Customers’
Personal Details
With Requirements
Demographics
Psychographics Medical Conditions
Requirements For
Insurance
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2. RPA, OCR and Intelligent Document Processing Solution
Scan Digital Documents
Of Customers
Verify Digital Documents
With Official Record
Holders Or Issuers
Process Digital
Documents Without Any
Manual Intervention
Reduce Error While
Processing Documents
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3. AI and Automation Bots
Figure Out Loopholes
While Processing
Documents
Look For Missing
Customer
Information
Notify Customers
About Missing
Information
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4. Generative AI and Automation
Generate Quotes And
Account Statements
Renew Insurance
Policies
Create New Policies
For Customers
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What Benefits does Automated Quote
Generation Bring to Insurers?
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1. Paperless Quote Generation
AI And Automation And
OCR Eliminate Any Kind
Of Manual Paperwork
Enable Insurers To Swiftly
Process And Maintain
Digital Quote Generation
Documents
Send These Documents
For Verification And
Approval
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2. WhatsApp Automation is Here to Help
Whatsapp Chatbots And
Email Bots Have Been
Introduced By Insurance
Companies
Process Customer
Information And Generate
Quotes
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3. AI and Automation for Effective Data Processing and Customer
Experience
Guides and trains the AI
chatbot integrated into the
process to gather the required
information to generate
insurance quotes
The synergy of AI and
Automation processes data
with no manual intervention
thereby reduces errors
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4. Reduced Operational Expense
Automate End-to-end
Quote Generation Process
This Helps To Reduce
Operational Cost, Save
Time And Optimize
Resources
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5. Lead Generation through Enhanced Data Analytics
ChatGPT and Communication
Mining, take a deep dive into
customer interactions and
present data insights that can be
used to evaluate leads
It helps to present them the
customized quotes as per their
requirements.
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Value Led Hyperautomation
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