Leading insurtech advocate Etiqa Philippines has recently launched an always-on virtual assistant for its new and existing customers. Etiqa’s latest venture into insurtech is named Eriqa, a chatbot which acts as a virtual assistant to help respond to questions and a multitude of requests including processing a Letter of Guarantee (LOG) for outpatient availments.
“The success of an insurance company is not only measured by the number of customer acquisitions but equally so in successful customer retention. The presence of responsive and consistent customer service enabled by technology is crucial in the omnichannel approach we started adopting last year. We will continue to enhance the efficiency and quality of responses of our new virtual assistant, Eriqa, to complement our frontliners and our other interactive touchpoints for our customers,” said Gladys Pascual, Head of Strategy and Transformation.
Available 24/7 through Etiqa’s website, the virtual assistant is easy to use and access from any device with internet access. Securing a Letter of Guarantee (LOG), traditionally done manually, is a common source of friction between customers and insurance providers. Through the digitalization of the process, including the involvement of a virtual assistant, the turnaround time to secure a LOG approval for outpatient availments, Annual Physical Exams (APE), and Executive Check-Ups (ECU) is now down to roughly 4 hours.
Throughout the process, Eriqa is capable of guiding the customers until the request is completely actioned on – enhancing the virtual experience for them while at the same time saving them time and effort. Investing in this technology helps minimize and avoid scenarios where customers in need are put on hold and made to wait on the line for a frustratingly indefinite period. This newly introduced automation also frees up time for frontliners and allows them to concentrate on more complex queries and concerns from customers.
Equipped with advanced natural language processing technology, Eriqa responds in a conversational manner. Beyond LOG requests, the virtual assistant can also assist in questions and concerns about the Smile PH App, as well as group health and travel insurance. It can also receive customer feedback more efficiently as it could filter them to help determine the nature of responses needed.
“Advocating for technology demands consistently enhancing it to improve how to best serve customers. While our virtual assistant is currently at its early stage, we intend to expand its function by enabling customers to file claims through it to achieve a more seamless, frictionless customer experience. For innovation to thrive, we should treat technology solutions as being always in beta and in continuous evolution,” stressed Ariel Meneses, Head of Operations and Service Excellence.
Attempting to accommodate the clients’ needs with a strictly human workforce can be challenging, considering the sheer number of queries coming in, and the vast amounts of data that must be parsed through to quickly produce a response. This is both a challenge and a commitment for Etiqa as the company continues to leverage the power and potential of technology to augment human skills and touch in delivering excellent customer service and response timely and efficiently.