Chatbots helping struggling travel sector

How Chatbots Can Help The Struggling Travel Sector

As traveling has picked up exponentially over the last decade, so have travel companies. To cater to the needs and demands of the new-age digitally adept traveler, travel companies continue to seek new ways to improve customer journey and make travel more convenient.

With technological advancements, the way people now plan their trips has also changed. Gone are the days when people used to visit the local travel agents to book a flight or a hotel. Travel companies that understand the importance of digitizing their business have started transforming travel experience digitally to attract more travelers and retain their clients.

The latest technological implementation that has made a positive impact over businesses from various verticals is chatbot. Chatbots are computer programs, more like virtual companions, that communicate with us through text messages, using artificial intelligence. Chatbots are integrated with websites or messaging apps to help businesses automate their regular tasks.

Chatbots are increasingly being utilized by the travel sector to cater to new-age travelers and stand strong in the face of competition. Elucidated below are some use-cases where travel chatbots are benefitting the travel industry.

Flight and Hotel Bookings

Trip planning begins with flight and hotel bookings. In the search for lowest prices and best deals, people scour through a multitude of websites and apps. A vast plethora of options from different sources all over the internet only confuses the customer and they end up rethinking their choices/plans.

People visit 38 websites, on an average, while planning their trips, according to a research by Expedia Media Solutions.

A travel chatbot easily proves to be a simple and user-friendly solution to the problem of complicated booking processes. A travel chatbot provides contextual answers to the queries of the customer. With chatbots, travelers can also approach your company to seek recommendations and book flights and hotels. What’s more, the travel chatbot can be deployed on different channels like Facebook, Skype, Slack, Twitter, etc. enabling your customers to have a uniform experience.

Big names like Skyscanner, Expedia, have already implemented chatbots which provide flights and hotels recommendations and process bookings, thereby providing a simplistic and unifying experience to the user. In fact, Skyscanner was one of the first travel sector brands to introduce conversational search interfaces.

Chatbots are increasingly being preferred by consumers to communicate with a brand. It is no surprise that 69% of consumers prefer chatbots for quick communication with brands. In February 2018, Skyscanner reported having surpassed one million chatbot interactions. KLM, the European Airline industry leader, saw a 40% increase in customer interactions through its Facebook Messenger channel.

Travel Assistance

Not just recommendations and bookings, travel chatbots can be programmed to assist the traveler throughout the trip. Right from deciding where to go to building an itinerary to tracking expenses, chatbots are increasingly becoming the go-to assistants for travelers. A chatbot presents a refreshing conversational replacement for boring long forms and probes the users about their preferences in an interactive manner.

Vague queries like “exotic beach destinations” can be comprehended by intelligent chatbots powered by natural language processing capabilities to offer an elaborate set of services. Your travel bot can also suggest holiday spots to suit what the individual is looking for and offer the best recommendations, cross-sell popular packages and more. After the user has selected the best-suited offer, bookings and payments can also be processed within the chatbot itself. Post booking, providing a list of sight-seeing spots, info on popular local food, locating rental car service, local weather forecast, et all can be taken care of by the travel chatbot.

FCM Travel Solutions, global players in the travel management industry, launched its AI chatbot application named Sam which provides travel assistance at every stage of the trip. Focused mainly on business travel, Sam enables travel bookers and managers to manage their travel itineraries, alerts them about flight delays or cancellations, calculates travel expenses, and provides booking options in line with compliance and travel policies of the user’s company.

Customer Service Management

Human agents are not always available to provide prompt customer support during the holiday season or other peak travel times. Especially in the case of international travel, where time zones can become a hindrance in the path of people seeking immediate answers, chatbots can jump to the traveler’s rescue. Chatbot’s ability to work 24*7 tirelessly makes it ideal for the customer care department. Chatbots are live 24*7 on your website or application, thus the prospects landing on your website at any hour of the day are able to get their queries answered.

With the help of a travel bot, you can automate frequently asked questions and save your resources. If the bot is asked something which requires a human agent to jump in, the bot can simply collect the details of the prospect and notify the human agent. The agent can then get back to the person with the required solution.

Some airports like Lyon Airport and Frankfurt Airport use travel chatbots to provide travelers with airport guides, flight status, and information about airport lounges, shops, restaurants, and more.

Chatbots can also be used to collect feedback from the customers. Chatbots can automatically send reminders to your customers urging them to write reviews and submit ratings for your services. What’s more, responding to customer complaints to avoid negative feedback can also be facilitated by the chatbot. Chatbots allow users to privately address their grievances, which with the help of Artificial Intelligence can be categorized and prioritized for easier handling. Thus, designated employees can address problems in the moment, before a negative review goes up on Google.

Travel chatbots come with multi-faceted benefits for your travel agency/businesses. 24*7 availability, prompt response, saved user history, unified user-experience are some of the many benefits of chatbots. In the era of digitization, chatbots provide a seamless and hassle-free experience to the users, thus making them stick to your brand.

It isn’t as easy as it seems to create a truly beneficial chatbot. It is important to design the chatbot such that it provides value to both the business and its customers. We, at WotNot, understand this and have worked with businesses across verticals to develop valuable and scalable chatbots that work as personal assistants and provide a seamless experience to the customers.

We also have a predefined Travel Recommendation template where you can experience the chatbot for FREE. Take a minute and feel how you can access all the benefits listed above here.

Chatbot for insurance

Time To Change The Way Insurance Sector Treats Its Customers

Every day, the insurance industry deals with thousands of customers, each having a multitude of queries about policies, claims processing, account updates, terms, conditions, and more. The humongous amount of queries and long queues to get on call with executives have made the insurance sector synonymous with mismanagement. Resultantly, frustrated prospects and customers usually drop off or switch to competitors. 

Insurers have sought technological advancements to address the growing concerns in the insurance sector. The latest technology that is taking the companies across verticals by storm because of the multitude of benefits it entails is chatbot. Chatbots in the insurance sector can make a world of difference in improving the overall customer experience. Let us see how-

Claims Processing

Claims processing is a process dreaded by insurers and insurance holders alike. Long forms with endless checkboxes and longer calls which result in more frustration on both ends make for a very horrible experience. Such excruciating experiences which people commonly associate with the insurance sector can be easily transformed into positive ones, using intelligent chatbots.

Intelligent chatbots can eliminate excessive human intervention required in the current scenario of claims management. The policyholder can simply report the claim in an AI-powered claims bot. The bot can then verify policy details and pass it through a fraud detection algorithm and generate a confidence score, based on which the insurance company can decide to settle or reject the claim.

Insurance chatbots thus provide immediate assistance to your customers, making the processing of claims a lot easier and hassle-free.

Lead Profiling

Chatbots work round the clock to address general FAQs and other queries. Based on the customer queries and responses, the chatbot can profile leads and provide them the quotes. This data gathered by the bot can then be utilized by the sales team to follow up on the leads and onboard new customers.

With chatbots on your website/app, you can address queries even outside operational hours. If a potential customer discovers your website late at night while surfing(which they usually do), they will still be able to interact with the bot and find answers about different policies, terms, and conditions. Chatbots in insurance can help you scale up your engagement rate, which in turn scales up your lead generation. Based on the conversations, insurance chatbots can be programmed to score leads. This will help your sales team easily convert more qualified leads. 

Personalized Recommendations

Because of their conversational nature, insurance chatbots can easily provide all the educational support that the customers need to find a suitable insurance product. Chatbots in insurance can process customer queries, scan through the policy repository and deliver accurate product recommendations, tailored to suit the needs of the individual.

Besides helping the individual decide on the best-suited product, chatbots also assist them through the purchasing process of insurance policies. Chatbots can be deployed across different channels like websites, apps, WhatsApp, Facebook Messenger, SMS, etc. to reach your customers easily.

Some of the prominent names in the insurance sector have already implemented WotNot insurance chatbots in order to improve customer satisfaction and stand strong in the face of the competition. One of the leading insurers of UK, Smart Sure, deployed WotNot chatbot for insurance and within just 90 days, they were able to reduce response time by a whopping 83%!

Key Benefits of Using Chatbots in Insurance

We have seen the different use cases in the insurance sector where chatbots can prove to be a valuable addition. Elucidated below are some benefits of employing chatbot in your insurance company:

  • Streamlining tedious processes

    Customers dread the enormous number of steps involved while buying or renewing insurance. Chatbots cut down on unnecessary steps and frequent to-and-fro between agents by walking customers through simple steps in a conversational manner. Easy access to information and removal of excessive human intervention makes customer onboarding simpler.

  • Reducing customer confusion

    People usually dread interacting with insurers because of the difficult and confusing jargons associated with the insurance industry. For e.g., trying to navigate the differences between various policies can be overwhelming to a consumer who is not familiar with the insurance space and its jargons. A chatbot can help reduce confusion by simplifying the complex terms into more straightforward language and walking customers through simple steps.

  • Reducing customer wait times

    In the face of growing competition in the insurance sector, insurers are finding it difficult to attract and retain customers due to extended waiting times. Insurance chatbots are easily accessible round the clock and provide instant responses to customer queries. Chatbots replace boring long forms with interactive experiences. This reduces customer wait times, enabling your company to provide smooth conversational customer experience.

  • Scalability

    Your customer support team can handle only so many customer queries at once. But chatbots are automated tools and hence can address thousands of customers at once. Whether you have 5 or 500 people on your website looking for answers, a chatbot is able to answer any number of queries instantly, at the same time. There is no limit to the number of conversations a chatbot can have at the same time.

In today’s age of cutthroat competition, insurance companies cannot afford to take customer service lightly. Implementing chatbots can enable you to retain customers and attract new ones by providing superior customer service. At WotNot, we understand the complexity of the insurance space and deliver a chatbot solution that is tailor-made to suit the use-case of your organization. Our chatbot conversation experts work closely with your team, delivering a superior chatbot that fits in seamlessly with your existing workflow.

Chatbot in Banking

Chatbots in Banking – Retain Customers & Streamline Operations

There’s a reason why banks and other financial institutions have increasingly started implementing chatbots to deliver their services. Bank of America, HDFC, American Express, Commonwealth Bank, HSBC (Hong Kong), PayPal, SBI, Lemonade, MasterCard are some of the major financial institutions which use chatbots for banking and financial services.

Chatbots are capable of holding personalized conversations with each of your customers round the clock. Chatbots in the banking sector can help banks ace their customer service and stand out in the competitive market. By catering to thousands of customers’ repetitive queries automatically, banks can save billions annually in the form of time spent on routine customer queries. Using interactive chatbots to cater to routine queries, your bank’s services become more accessible to your customers, thereby leading to a loyal customer base for your financial institution.

According to a report by Juniper Research, businesses and consumers can save over 2.5 billion customer service hours by the year 2023 using chatbots. Using chatbots will result in the savings of a whopping USD 11 billion annually for banking, retail and healthcare sectors.

Let us have a look at the popular use cases for chatbot in banking and financial services-

Customer Support

The standard for a new era of customer service has been set across all industries and the banking sector is no exemption. Customers have grown accustomed to fast and personalized service, and they expect the same from their financial services provider, i.e. you.

Chatbots come to the rescue by providing 24*7 customer service. Chatbots replace long wait times with instant response that helps make your customers’ journeys friction-less and pleasant. A chatbot answers the frequently asked questions and an NLP-based chatbot can also be trained to interpret and respond to custom inputs by the customer. Right from educating your customers to assisting them make the right financial decisions, chatbots can provide instant customer support, at a fraction of the cost. In case the bot is unable to answer a specific complex query, it can also re-route requests to a human representative.

Lead Generation

Chatbots can open a new path when it comes to lead generation for banking. Banking chatbots engage with the incoming traffic on the bank’s website, ask them relevant questions, converse with them and generate leads.

A chatbot can also be deployed on multiple channels like Facebook, Twitter, WhatsApp, and more to increase engagement and brand awareness. The leads gathered from various channels can then be taken up by the sales team for follow-up. The chatbot can also capture leads and share insights with the sales team, thereby allowing them to move directly to the second stage of the discussion with interested prospects.

Loan/Investment Planner

With seamless integrations to internal systems, chatbots in banking can simplify the process of loan or investment application. Calculating monthly payments, keeping a track of investments, interest rates, etc, often turn out to be harrowing experience for your customers. Having a chatbot which they can approach at any point of time, even outside banking hours acts as a much-needed relief.

The banking chatbot can provide essential information like interest rates, costing, tenure, documents required, etc. and guide them through the processes step by step. Also, based on the customer’s profile and other details, chatbots in banking can provide personalized recommendations and reports. A chatbot interacting with your customers to walk them through loan/investment applications can completely change the way people approach the banking process, turning it into a positive experience.

Creating Support Tickets

A chatbot can help reduce confusion by simplifying complex banking terms into more straightforward language and walking customers through simple steps. Chatbots can also create support tickets for the customers to help them solve the problem they are facing. The bot can create a support ticket and acknowledge the customer with the ticket number and the estimated time of arrival for an engineer to get back to them.

For tickets that have already been created, customers can go to the bot and enter their ticket number, and the bot can fetch the latest status details of the ticket from the internal system and keep them updated.

Feedback Collection

With the ongoing endeavor to improve customer satisfaction across banking, it is important to get feedback from the customers themselves on ways how they would like to be served better. Uninteresting long feedback forms usually end up in the trash can or the trash folder.

But with chatbots, the process of feedback collection becomes conversational and interactive, which encourages the users to give honest feedback. Giving feedback through conversation makes the process more enjoyable for the user and increases the chances that the user will take the time to provide you with the information you need to improve your services.

Customer service has evolved by leaps and bounds. With the customer at the center of all marketing and sales campaigns across industries now, it has become imperative for the banking sector to step up their customer service as well.

Chatbots come with multi-faceted benefits for businesses across verticals. Efficient customer support is the most tangible of these benefits. Chatbots in banking provide instant response round the clock, which make your banking services more accessible to the customers.

It is important to note that banking chatbots will not replace customer service agents but will enable them to focus on complex issues, while chatbots address the simple queries instantly.

It isn’t as easy as it seems to create a truly beneficial chatbot. It is important to design the chatbot such that it provides value to both the business and its customers. We, at WotNot, understand this and have worked with businesses across verticals to develop valuable and scalable chatbots that work as personal assistants and provide seamless experience to the customers.

We also have a predefined Banking template where you can experience the chatbot for FREE. Take a minute and feel how you can access all the benefits listed above here.