Dec 27, 2022
4 min read
The insurance industry is complex. However, having enough insurance for everyone is critical for our overall health, security, and well-being. And, if you are a company that provides insurance products and services, giving excellent customer service is critical. That, too, in the people’s native language. The language in which they speak, adore, and feel most at ease communicating.
A crucial component of providing excellent customer service is being able to communicate clearly with your clients and policyholders. Sadly, not all insurance companies make the effort to provide information in languages other than English. Those that can communicate with their clients in their native language will always be one step ahead of the competition.
Digital factors, as well as new expectations and enhanced simple experiences, are disrupting the insurance sector. Stay with us as we delve into the transformative technologies that insurance businesses in India are implementing to stay ahead of the curve, such as Multilingual Voice-Bots, insurance localisation, and translation software.
Also Read – Multilingual Voicebots: The Wave of the Future
Language solutions gain importance in the insurance sector – Why now?
Insurance offers security and peace of mind. But what if the person in need of coverage or filing a claim is unable to reach their insurance company owing to a language barrier?
Language barriers are a significant challenge for insurance companies operating in India. The magnitude of India’s linguistic variety might be gauged by the fact that 22 languages have been designated as scheduled languages under the Indian Constitution.
These customers, whose primary language is not English (after all, barely 10% of the Indian population speaks English well), require the confidence that insurance can provide. Language barriers can make purchasing and managing insurance more difficult. In this context, having the correct language support solution can assist insurance companies in India in providing better service to all policyholders as well as reaching out to new consumers in their native language.
Insurance localisation and translation software, as well as insurance translation services, can assist insurance companies in providing better service to all policyholders while also reaching out to potential customers.
The Role of Reverie in Bridging the Language Gap Online
Despite the great progress, India has made in the digital realm, the native language-literate population (and that’s roughly 90% of the Indian population) still struggle to bridge the digital language divide and embrace the Internet. Significant advancements won’t happen if our regional languages aren’t deployed online using recognized standards.
The information available online in many native languages is imbalanced, which influences who and what is represented and by whom. Almost 500 million online customers are still unreached in the Indian market. And why? The answer – Language barriers.
For example, Prabandhak, our cloud-based AI-powered Translation Management System, is developed to address the translation demands of insurance companies and is meant to help translators, LSPs, and organisations. Companies can use this software to assign tasks, automate, and manage multilingual projects and teams on a wide scale. It supports all Indian languages as well as 53+ international languages and 50+ file types, making it simple for businesses to translate and transform the customer experience.
Insurance companies are already providing hyperlocal omni-channel user experiences by leveraging Reverie’s language solutions, from policy terms and conditions in local languages to claim settlement requests via insurance localisation and translation software and insurance services localisation and translation software (for both text and voice-based inputs).
Voice Bots Localisation for the Insurance Industry
Reverie’s Voice Bots Localisation solutions for the Insurance Industry expedite simple customer interactions by responding to inquiries using natural language, preventing users from having to trawl through enormous quantities of data or choose from confined sets of possibilities.
Reverie’s multilingual speech bots, which speak 22 or more Indian languages, allow claims to be registered in real time around the clock. In contrast to a typical call to customer service, there is also no wait time. As soon as you ring in, the bot will provide real-time instructions on the claim notification process.
Leading insurance companies are using voice bots to go local and improve client experience. Edelweiss General Insurance (EGI) have very recently deployed an artificial intelligence (AI) voice bot to speed up the registration of vehicle claims while providing their clients with a simple, smooth, and excellent experience.
Similarly, PolicyBazaar, one of India’s most prominent insurance aggregators, is embracing language localisation tools and solutions to generate new revenue streams by tapping into the underserved local Indian market in the people’s native tongues. Customers can now access PolicyBazaar’s website and app in a variety of Indian languages. By providing potential Indian clients in their preferred language, a stunning language-user-first experience is provided, as well as a distinct brand identity. Reverie’s premier AI-powered insurance localisation solutions successfully establishes the brand’s presence in all Indian languages.