Best Insurance, an InsurTech provider dedicated to simplifying the insurance process, has launched an AI-driven service enabling customers to purchase and manage insurance via WhatsApp.
Known for its customer-centric approach, Best Insurance aims to bring more convenience and flexibility to policy acquisition, according to FF News.
The launch of this WhatsApp service is in response to evolving customer expectations, particularly from younger consumers who prefer a digital, seamless experience.
The offering allows users to get quotes, ask questions, and complete insurance purchases directly within the messaging app, without the need to download additional software or navigate complex online platforms.
The AI-led service will first offer ASU insurance, with plans to expand to life, critical illness, pet, and gadget insurance in the future. This strategic expansion is designed to create a more accessible, flexible experience for customers seeking different types of coverage.
This comes as many customers are now looking for quick, efficient ways to manage insurance that suit their schedules and eliminate the need for long phone calls or online portals.
The WhatsApp service offers several benefits. It allows customers to progress through the insurance journey at their own pace, keeping a complete record of interactions within the app. With privacy as a core feature, WhatsApp provides a secure platform for managing sensitive information, such as salary and medical details.
The service is also highly scalable, capable of handling thousands of users simultaneously, which reduces servicing costs and enhances response time for customers.
Since launching, Best Insurance reports that 30% of customers prefer WhatsApp to phone consultations, and over 50% of customers who started online have switched to WhatsApp for added convenience.
Kesh Thukaram, co-founder of Best Insurance outlined the reasons behind the move, stating, “We’ve seen a shift in how customers want to interact with us. They are looking for more control and flexibility, especially when dealing with the sensitive information needed for a protection quote. By launching this WhatsApp service, we are meeting those expectations and making the process easier and more convenient.
“People don’t want to have long phone calls discussing sensitive topics like salaries or medical conditions—especially if they are in open workspaces—and often don’t have all the information at hand. The same is true for online forms: when customers reach a question they don’t have the answer to, they stop the process and often don’t come back.
“In fact, after an initial expression of interest in a product, less than 20% of customers respond when contacted, and the rate is even lower for those under 35.
“But on a platform like WhatsApp, they can control the pace of the conversation, review answers, take their time, and aren’t pressured to make decisions instantly. Two thirds (65%) of the WhatsApp preferred journey were within normal working hours, confirming our view that customers would prefer to buy personal policies such as unemployment insurance privately on their mobiles rather than work laptops or big screens.”
Best Insurance’s new service highlights the growing demand for mobile-first solutions in the insurance market, allowing customers to engage with providers on their own terms. As more people embrace digital platforms for insurance, Best Insurance’s flexible and privacy-conscious approach reflects a broader industry shift towards user-controlled, accessible technology solutions.
“By launching this service, which will run alongside our more traditional channels—phone, website—our customers can choose how they want to communicate with us, and when,” added Thukaram.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
