AI handles 70% of ICICI Lombard Insurance’s customer calls
ICICI Lombard Insurance has successfully transitioned 70% of its customer service interactions to AI-powered voice and WhatsApp bots. The company aims to use these AI tools to improve customer insights and sales efficiency while reducing the need for human intervention in routine inquiries.
Why it matters
The shift demonstrates the rapid adoption of AI in the financial services sector to optimize operational costs and customer engagement.
AI Voicebot, a feature that ICICI Lombard Insurance claims as an industry first feature, handles as much as 70% of customer calls in the current year, according to Sanjeev Mantri, MD and CEO of the private sector insurer.
Speaking at the 25 years anniversary event of the insurer, Mr. Mantri said earlier it was using a vendor proposition, but it had largely moved everything in-house, with only 10% of the calls going through the bots, whereas the remaining 90% was received at its call centre, largely through the human interface.
“In the last one year, 70% of the calls are entertained through a bot or a WhatsApp chat bot. So, largely only on 27% of the calls there is a human intervention needed,” he added.
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