Virtual Product Advisor Agent
Conversational AI that guides customers on insurance choices.
Description
Challenge:
Insurance products are complex and filled with jargon, leaving many customers confused about benefits, exclusions, or suitability. Traditional advisors may unintentionally mis-sell or provide inconsistent information, while customers increasingly demand instant, digital-first guidance. Without automation, insurers struggle to scale advisory services, ensure compliance in product explanations, and engage customers effectively during the buying journey.
How It Works:
The Virtual Product Advisor Agent acts as a digital, conversational assistant that simplifies insurance discovery. It answers customer questions in plain language, explains plan features and exclusions, and recommends products or riders aligned to personal needs such as age, family situation, or financial goals. Using product catalogs, regulatory templates, and CRM data, it ensures compliant, contextual responses. It can also generate quotes, link to brochures, and hand over the conversation to human advisors if needed—offering a seamless blend of automation and personal touch.
Benefits:
Resolves 60–70% of product queries without human intervention
Reduces mis-selling and confusion by 25–40% with compliant advice
Drives 30% higher engagement in self-service quote generation
Achieves 95%+ accuracy in regulatory and product-rule adherence
Accelerates digital sales funnel progression by up to 50%
Resources
Features
The Virtual Product Advisor Agent enables insurers to deliver personalized, compliant product guidance at scale. It helps customers compare options, understand benefits, and make informed purchase decisions—building trust and improving conversion.
Features & Capabilities:
Conversational Guidance: Explains product features, premiums, and exclusions in simple terms.
Personalized Recommendations: Suggests plans/riders based on goals, family info, and income.
Interactive Q&A: Clarifies customer doubts using pre-trained FAQs and real-world queries.
Quote Generation: Integrates with quote tools or aggregators for instant premium estimates.
Compliance-Ready Advice: Delivers mandatory disclosures, IRDAI guidelines, and disclaimers.
Language Support: Provides advisory in multiple regional languages for accessibility.
Lead Capture & CRM Sync: Records customer interest and syncs to CRM for follow-up.
Hybrid Escalation: Seamlessly routes complex queries to human advisors when needed.
Operating Blueprint
Knowledge Sources:
Insurance Product Catalogs: Provide structured details on plan types, features, riders, exclusions, and premium rules.
Product Comparison Matrices: Enable side-by-side analysis of benefits, eligibility, and pricing across different plans.
Regulatory Disclosure Templates: Include mandated compliance language, standard disclaimers, lock-in periods, and regulatory notices for insurance products.
FAQ & Advisor Playbooks: Capture common customer queries, real-world advisor explanations, and objection-handling scripts.
CRM & Customer Profiles: Supply customer demographics, goals, dependents, and past inquiries for personalization.
Business Rules:
Minimum Qualification Rule: Do not recommend plans if age/income criteria aren’t met.
Suitability Filter: Match recommendations to customer intent (protection, savings, investment).
Mandatory Disclosure: Always include exclusions, lock-in periods, and disclaimers.
Personalized Advice Rule: Suggest riders (e.g., child education, critical illness) when relevant.
Lead Capture Rule: Capture and log interest into CRM automatically.
Language Preference Rule: Adjust responses to customer’s requested language or simplified terms.
Tool Workflow:
Customer initiates conversation with a query or goal.
Agent asks clarifying questions (age, needs, dependents).
Pulls relevant product details and filters for suitability.
Explains plan benefits, exclusions, and premiums conversationally.
Provides brochures, comparison sheets, or generates quotes.
Captures interest and syncs into CRM for follow-up.
Routes complex cases to human advisors if required.
Badges
Classification
Capabilities
