Customers, Customer Support, Sales
Proprietary Insurance Underwriting Application, Salesforce.com
This cyber insurance company offers standalone, admitted cyber insurance tailored to the unique needs of each business. Its innovative approach relies on data and AI for continuous risk assessment and instantaneous underwriting while delivering policyholders a closed-loop approach to risk management with pre and post-breach services.
This cyber insurance platform company serves tens of thousands of wholesale and retail users on its platform. The entire platform is designed to be self-service for all of your cyber insurance needs from submission, rating, quoting, binding, issuance, invoicing, billing, and other policyholder needs. However, with tens of thousands of users on the platform, sometimes users get lost or cannot find a particular function, so they call the company directly to get help with coverages, billing, or using a specific feature on the platform. As questions increased, the internal concierge team was becoming overloaded. The company needed a more efficient method to service its agents and customers from inside the platform to reduce support call volumes.
The chief product officer at the company sought to help reduce the number of incoming support calls. He began evaluating technologies that could enable chat functionality from inside his product. During his chatbot research, the product team found that chatbots have significant limitations. Most chatbots provide standard generic answers, give up on the first question, and ultimately connect you to someone. This is the very situation they were trying to eliminate. They realized they needed an intelligent chatbot–Krista.
Krista provides this software company with an intelligent chatbot. An intelligent chatbot provides specific answers to users based on their role and security permissions by connecting to back-end systems via secure API calls. Krista ensures that each chat user sees only their information inside security policies and roles by providing authenticated sessions. Automatically providing identity-based answers eliminates customer service representatives from using chat functions as an email alternative. As security policies are modified or enhanced, Krista quickly manages the rule changes without needing time-consuming engineering rework. The platform is now truly self-service and increases the speed at which insurance policies are completed.
The company embedded Krista inside its platform to help users find the information they are looking for. Doing so relieves the concierge team from fielding calls or chats for simple tasks and allows them to focus on more important matters. White-labeling Krista and embedding the chat features inside its cyber insurance platform allowed the company to brand the bot and characterize the bot. Personifying the bot makes it sticky and strengthens the platform and the company’s brand.
Installing Krista enables so much more than the company anticipated. Krista also enables automated workflows to streamline business and sales processes. For example, an agent can ask which policies are coming up for renewal within the platform. Krista then responds with the relevant policies and sends renewal quotes to the customers. Automating customer service and sales allow this company to serve more customers with fewer employees to increase profitability.