In recent years, the “As a Service” business model has gained ground in the market for all its advantages. But did you know that it can also be applied to chatbots? Discover the concept of “Chatbot as a Service”, its unquestionable value, and how you can use it in sectors such as banking and insurance.
As we mentioned, “As a Service” has grown exponentially. We find it in the form of Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), among many others.
This business model is mainly associated with technology companies and refers to a service provided via the web. In other words, there are no on-premises devices because everything is hosted in the cloud.
In this way, the companies that hire these services don’t need to worry about installing, maintaining, and updating the systems, nor purchasing hardware and infrastructure for hosting them. Then, you only need an internet connection to access any product or service.
In addition, most do not require a license; the investment is made in the short term, on a subscription basis, depending on what is effectively needed.
What is “Chatbot as a Service”?
“Chatbot as a Service” has the same premise as the other “As a Service” models. That is, they are provided via the web. However, it doesn’t fall into the “Platform as a Service” category. Indeed, it’s a platform we can customize according to our needs, but it includes much more, that is to say, the “end product” – the chatbot.
Chatbots are conversational robots generally used by medium and large companies to automate repetitive tasks and requests, optimizing customer service.
They’re considered digital contact media, mostly found on companies’ websites and instant messaging applications, such as Facebook Messenger or WhatsApp.
They are solutions that use Artificial Intelligence to have a greater response efficiency and thus also optimize the work of customer support teams.
The model of “Chatbot as a Service” is closely linked to the theme of digital transformation since it allows companies to merge easily into the era of digitalization. They can do it by offering their customers new contact channels with no additional operational costs.
What are the benefits of this business model?
Simply put, when we say something is “in the cloud,” we can access it from anywhere in the world through the internet. That is to say; it is not something physical that we can only use if we are in the same location as the product or service.
“Chatbot as a Service” works the same way. They aren’t “physical” systems that you can only access if you are in your company’s office, for example. They are cloud-based solutions.
This way, the supplier can provide the service seamlessly from one location at the end of the globe to your company at the other.
- Reduced costs
Because it’s in the cloud and not something “physical,” the associated costs are much lower. For example, you don’t need to worry about issues such as maintenance or having a specialized team to handle the solution.
Another advantage of this model is the possibility of autonomously escalating the solution to new use cases without hassle, having total control over the platform.
Additionally, it allows easy integration with other systems your company already uses, such as CRM platforms.
- ROI in no time
Besides being very quick to implement, the ROI (return on investment) is almost immediate since you can see the results in just a few months.
From the moment you implement this type of product, you can see improvements in your teams’ performance and customers’ satisfaction.
- Fast Implementation
As we said in the previous point, “Chatbot as a Service” is promptly implemented since everything happens over the internet.
Just parameterize the information you want the chatbot to have, make the integrations with the systems you wish, and you’re ready to automate your customers’ most frequent requests and questions.
- Automatic Updates
Thinking about updates is something you don’t have to do.
There will be updates, indeed, and the solution company you invest in will do them periodically to improve the product they are providing. But you don’t have to worry about anything. You’ll be notified when they occur; but, you won’t even have to involve your IT staff.
Also, suppose the provider is a company focused on customers and continuous improvement. In that case, many of the updates and new features will take your feedback and suggestions into account.
“Chatbot as a Service” in the Banking and Insurance Sectors
“Chatbot as a Service” is an excellent option for those who value a technological service that is efficient, innovative, and doesn’t bring headaches.
They are an opportunity to provide a 24/7/365 service where the user can solve their doubts immediately and assertively. In the event of more complex cases, it is possible to count on the help of human assistants, accessible through Live Chat.
As experts in the banking and insurance sector, we at Visor.ai have helped many companies automate their Customer Care services. Here are some examples of our solutions’ different applications:
- Opening Accounts
- Applying for a credit
- Financial counseling
- Provision of documents (insurance documents, insurance policy)
- Hiring insurance
- Claims’ communication
- Changes in policies’ coverage
“Chatbot as a Service” at Visor.ai
At Visor.ai, we provide a “Chatbot as a Service”. It’s a cloud-based solution based on Artificial Intelligence coupled with a low-code platform. As a result, anyone with no technical knowledge can parameterize it.
In addition, all our customers’ chatbots have reached 80% efficiency, meaning eight out of 10 requests are solved without human intervention.
In four simple steps – configure, test, implement, and improve – you can have a technology solution that sets you apart and puts you at the forefront of customer service.
Talk to us and learn more about our “Chatbot as a Service” model.