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10 termes liés à l'IA que tout courtier d'assurance doit connaître pour rester compétitif en 2025 – Et pourquoi les chatbots ne suffisent pas

Publié le 5 février 2025

Gabrielle Reid

"We know AI is important… but how exactly does it fit into our workflow?"

That's the question we hear from brokers every day. AI sounds promising, but for many brokerages, the real-world application still feels abstract.

AI in the insurance industry is more than just quote automation, which web forms attempt to streamline. In fact, AI has made significant strides in recent years, especially within finance and insurance, where its deployment has considerably transformed how we view traditional practices.

If you're an insurance professional, it's essential to know the different ways you can leverage the power of AI in everyday processes. Koïos Intelligence, is spearheading the movement to implement groundbreaking applications of AI with a cloud platform Olivo, to support the transformation of conventional insurance workflows.What does the application of new AI technology look like in insurance? Let's explore some of the more compelling use cases driving the shift.

10 Use Cases for AI in Insurance

AI must be as beneficial in its deployment as it is compliant. AI virtual assistants trained on private Large Language Models, as opposed to open models such as ChatGPT and Claude, are fine tuned to provide accurate and contextualized answers to your specialized domain.

Private LLMs are a better fit for industries like insurance, where sensitive data and compliance matter. They offer greater control, customization, and protection—keeping data secure and within organizational boundaries.
Shaun McNeill, Senior Vice President of AI & Transformation

AI in insurance must be used to make staff more efficient, elevate levels of support, and automate. Not replace the high value work people can deliver. Let's hone in on some of the major use cases of AI's implementation in the insurance industry.

 1. Quote automation

AI in insurance has many use cases, but perhaps one of the most common is quote automation. While many businesses may have web forms that take in client data, AI virtual assistants take these interactions to the next level. Using voice or text, AI agents offer a fluid back and forth that improves client willingness to complete the process. And, clients can now connect with AI agents over the phone, allowing them to complete the quotation process from anywhere in the world. This frees up your team to handle other tasks, all while your customers can enjoy real-time support.

Our client, Assurancia Groupe Tardif, observed a 38% increase in sale conversion rate since adopting Olivo

2. Customer support

A common use of AI in insurance is to enhance customer support. However, there is a big difference between generic "chatbots" and new generation "AI Agents." Generic chatbots exist solely on your website and have a hard time answering questions outside of a defined selection that's been programmed. When customers ask something outside that script, the chatbot must to pass the user off to a broker or agent.

Next generation AI Agents like Olivo are a step above. Where other AIs hallucinate, Olivo is trained on industry-specific knowledge and empowers clients with expert insurance advice to accurately settle their concerns and guide them in the right direction.

3. Interaction monitoring

AI can analyze customer messages, voice chats, and attachment shares in real time to evaluate several beneficial metrics. Interaction monitoring gives your insurance business a direct feedback loop of the kind of experience your customers are having and may indicate common troubles they're experiencing. With this information gained from interaction monitoring, you can make shifts accordingly to continue improving on your customer relationships. Olivo features a module called OlivoAnalytics that contains an SQL workbench, the workbench tracks what are the most common questions that are asked. Using this information, you can make your materials more informative in a way that resonates with your clientele.

4. Policy changes

When your customers' lives change, whether they've bought a new home or their teenager just got a driver's license, their insurance needs to change with them.

Clients can access their policy details and request updates in real time, without waiting on hold or chasing down paperwork. From adding drivers to adjusting coverage limits, these changes are captured through either conversational AI or a form and routed directly into your systems for faster processing.

New AI agents offer various after-sales processes, like renewals, claims, and policy changes.

5. Enhanced decision-making

Analytics and metrics derived from AI software can play a significant role in decision-making for insurance businesses. AI can process vast amounts of data far quicker than any human, and analyze customer behaviour, market trends, claim histories, and risk factors to help inform decisions. With OlivoAnalytics, brokers and agents can gain insights into customer conversations that help refine their approach to customer interaction, lead management, and more.

6. Personalized recommendations

Conversational AI doesn't just answer questions, it learns from every interaction. By analyzing client inputs, historical policy data, and conversation patterns, it can suggest the most relevant coverage options or follow-up actions in real time.

That means fewer back-and-forth emails, less time spent digging through records, and more confident recommendations, whether you're handling a renewal, upselling a product, or triaging a complex case.

7. Prospect data retrieval

As leads come in, AI can be used to streamline incoming data for brokers and agents to utilize. AI Agents can create "partial leads" when potential clients only complete part of the quotation form. It saves the basic information like the user's name and email, uploading it into a dynamic dashboard your organization can access. AI Agents can also reach out to these partial leads and add them to your lead management or sales pipeline software.

8. Real-time underwriting

AI has the potential to not only automate underwriting, but perform it in real-time. When a customer submits an application, AI software takes their profiles and compares it the company's claims database in realtime, sifting through tens of thousands of claim occurrences to accurately gauge a profile's risk. Olivo flags risks as soon as they appear, making sure your underwriters don't miss any information that may affect their policy.

Long-time client at Koïos Intelligence, Ellipse Insurance, experienced a 45% reduced underwriting time since adopting Olivo.

9. Lead monitoring

Lead management software isn't new, but many systems are archaic and outdated. With AI, you can monitor all of your leads in real-time, organize them, and even label them by their likelihood to bind. Modern AI systems can also handle lead outreach by drafting emails and proactively calling clients using Interactive Voice Recognition (IVR) technology. Then, with the information gathered from these interactions, determine the next steps to bring you closer to closing the deal.

10. 24/7 Uptime

One great thing about AI is that it helps your brokerage or agency to suddenly become available 24/7. Whenever your clients have a question or want to fill out a quotation form, they can – without needing to wait for open hours.

Our customers now benefit from instant assistance, 24 hours a day, whether online or by phone. The result: a higher degree of satisfaction and an even stronger brand image.
Bruno Fortin, President, J. Gerard Fortin et Associes Inc.

AI is advanced and has the knowledge equivalent of a broker, making it a tireless resource for customers to use as they will. When deployed over the phone and web channels, your AI Virtual Assistant will meet clients where they are, increasing the reach of your business without increasing headccount.

Elevating Customer Experience with AI in Insurance

Your customers need insurance. It's non-negotiable. That doesn't mean your customers need be faced with long wait times, complicated policy changes, or find themselves unable to determine how best to meet their insurance needs. AI like Olivo remedies the common pain points of insurance brokerages and agencies, moving customers from IVR to profitable digital and messaging channels (like SMS, email, WhatsApp, and web chat), and answering customer queries within 5 minutes.

With such rapid response times, your customers can get covered faster. Gone are the days of waiting at the bottom of the call queue just to have a simple question answered. AI in insurance is a game changer.

Looking to the future of AI in insurance

Three phone mockups of Olivo API integrations: Instagram, web, Outlook email.

As we shift our sights towards the future, we can reflect back on how far we've come. The move from physical brokerages and agencies to digitization took decades, but AI is rapidly developing and may soon become the new normal. Picture this: your AI isn't just waiting for prompts—it's out there doing real work. Scanning renewals, comparing rates, collecting data from clients, scheduling meetings. Welcome to Agentic AI—where software acts, not just assists.

Don't be left behind. The future of insurance is in AI, and your brokerage or agency can get ahead of the competition by getting on at the nearest station. Reach out to Koïos to book a free demo today.

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À propos de Koïos Intelligence

Fondée en 2017, Koïos Intelligence a pour mission de doter le secteur de l'assurance et de la finance de systèmes intelligents et personnalisés de nouvelle génération, s'appuyant sur l'intelligence artificielle, les statistiques et la recherche opérationnelle. En combinant les connaissances de nos experts de premier plan en assurance, finance et intelligence artificielle, Koïos développe de nouvelles technologies qui redéfinissent les interactions entre les assureurs, les courtiers et les clients.