Allstate is the largest publicly-held personal insurance company in the US. Its customers enjoy a range of innovative ways to save on their auto and home insurance premiums including smart student savings, drivewise app discounts, pay-in-full options and more. The company also has a number of convenient mobile tools for policy management.
Despite these innovations, Allstate lags behind competitors like Geico and Progressive in customer satisfaction ratings and claim experiences. Its low ratings are due to a variety of factors, including the company’s tendency to delay, deny, or defend claims. Fortunately, Allstate is working hard to improve its reputation with a series of initiatives focused on AI.
For example, Allstate has partnered with the New York-based technology firm IPsoft to deploy Amelia, an artificial intelligence assistant. The virtual agent uses a natural language speech enabled IVR and chatbots to engage with allstate customer service helping them navigate the customer service process. Its ability to identify customers and their intentions allows it to provide a personalized experience and make recommendations that increase engagement and reduce the number of steps required to complete tasks.
The goal is to create a seamless experience across Allstate’s voice and digital channels with a consolidated, contextually aware view of the customer journey. This will require the company to balance automation and intelligent customer service with a human touch. Whether a customer is contacting Allstate by phone, text, chatbot, or email, they want a consistent level of service and a personalized experience that is relevant to their current situation and needs.
Insurance companies are responsible for protecting the financial assets of their customers, but they are also expected to treat their customers with respect and dignity. In many cases, insurance companies must go above and beyond to protect their clients from unscrupulous brokers and agents. Insurance customers expect a high level of trust and security, and they often choose their provider because they feel that the company will do right by them.
A key to delivering on this expectation is to use AI to automate routine tasks so that employees can focus their attention on more complex or sensitive issues. This can be accomplished by leveraging machine learning to recognize patterns and exceptions to the norm. This enables the company to deliver on its promises more quickly, accurately and efficiently.
Allstate has taken the initiative to employ artificial intelligence in its call centers, and the results have been encouraging. In the 2022 JD Power auto insurance customer satisfaction survey, Allstate customers report a higher level of satisfaction when speaking to an agent than when talking to a robo-agent or using the Allstate online portal.
However, Allstate’s efforts may be in vain if it is not careful about its use of AI. If the company assumes that its clients who are used to getting personalized attention from an agent will be just as happy with a call center or automated voice response system, it could alienate loyal customers and lose business to competitors like Geico and Progressive.