We see that the majority of users calculate the price of their insurance, and only 22% begin to formalise the policy. This is normal tendency in the service sector – many people research the prices of different companies before making their final choice.
But the only difference is that the bot can simultaneously calculate a huge number of requests, and this does not affect its costs. Let's look at this question from the other side. You pay for the bot once before the development, or with a fixed monthly subscription cost. But do you know how many operators you will need to calculate policies with such operativity, without paying attention to the fact that only 22% will decide to issue the policy, and 8% will buy it?
The fact that 91% of policies issued through a bot – being more precise, Electronic Policies, gives an insight, that the innovative product needs an innovative sales channel. And as trust in Electronic Policies increases, there will be more and more people willing to buy them.
Finally, 35% of the refunds mean that after calculating the price, having tried to start the docs formulation, and having familiarized with the bot – people open it again to finish the process, or show the bot to friends.
This experience is only the beginning. VUSO Insurance Bot has been working only for one month. Well, and Electronic Policies are a wonder for people. When drives are sure that they don't need to issue paper version of the policy, and they can buy an insurance sitting in the car and it will be valid, Insurance Bot won't be a product innovation anymore but the necessity.