Smartbroker: A chatbot in the financial sector
Smartbroker was launched in 2019 and is the first broker in Europe to enable customers to trade at special conditions. Customers can sometimes trade free of charge or place an order on the stock exchanges for very low prices. With its diverse range of products, Smartbroker offers the opportunity to invest across the board. Smartbroker therefore actually offers the services of both a traditional house bank and an online bank — only without branches.
The area of tension in which Smartbroker found itself with regard to customer communication was to maintain a high level of service quality despite the very favorable conditions. The specific area of tension is between Smartbroker as a product provider, who Customer expectations (24/7 availability and immediate answer to the question) and the Competition or competition. It is therefore important to ensure that, despite the low price segment, customers receive a full-service service that is satisfactory. At the same time, Smartbroker can show strong inventory growth, which is of course encouraging. However, scalability must be guaranteed. And it is precisely this scalability that can be ideally achieved through automation via a chatbot.
According to the chatbot manager at Smartbroker, the chatbot was implemented within three weeks. Very little time elapsed from signing the contract to go-live and the chatbot was able to actively support customer service within a very short period of time.
What makes Smartbroker's chatbot good?
Smartbroker is breaking new ground with the chatbot and testing more unconventional methods, for example when it comes to chatbot teasers. The chatbot teaser in the FAQ section is sometimes equipped with up to ten buttons and thus ensures that website visitors do not have to click through the FAQs for a long time, but may find the appropriate topic directly in the chatbot teaser.
But what is even more impressive are the results that the chatbot achieves in Smartbroker's customer communication: The chatbot automates around 70% of all incoming chatbot requests.
You can find out what also makes Smartbroker's chatbot stand out and what other results have been achieved in this article.
Velux OSO: A chatbot in e-commerce (pre and after sales)
VELUX OSO is VELUX's Online Sales Organization (OSO) and is responsible for the entire B2C online sale of blinds (blackout blinds, awnings, roller blinds) and roof windows via websites and marketplaces. Sales are made via various websites and on various markets (including the UK, Germany, the Netherlands, etc.).
The challenge in the case of VELUX was the high number of customer inquiries during seasonal peak phases and a high level of product complexity. Many website visitors need advice or assistance when choosing a roller blind or similar for their skylight. VELUX OSO also had to deal with a high number of recurring requests. In addition, there were limited personnel resources, an overloaded live chat and customers who expect advice around the clock. So, a lot of challenges that had to be overcome — and that's exactly what an AI chatbot is ideal for.
The specific goal with regard to the chatbot was to reduce manual effort in live chat. At the same time, it was necessary to expand online availability so that website visitors could ask their question at any time. And this was exactly what happened shortly after the chatbot was implemented.
What makes VELUX OSO's chatbot so good?
With the chatbot, Velux OSO has achieved outstanding results and figures not only in one market, but directly in several markets. In total, the chatbot covers over 34 different topics, such as portfolio, replacement, delivery problems, returns, portfolio, window code, product comparisons, delivery time, etc. All of these topics are addressed in the appropriate language, depending on the market. Say, the chatbot understands and answers in Dutch, German and English, among others.
This ensures that the manual response to live chat requests is reduced by around 75%. Chatbots on websites in Germany and the Netherlands can show similar results: The number of manual responses in live chat was reduced by 91% on the German website and by 85% on the Dutch website.
➡️ Find out more insights about the VELUX case in the free case study. Just download now.
AdmiralDirekt: A chatbot in the insurance industry
AdmiralDirekt is the direct insurance subsidiary of Itzehoer Versicherungen, based in Cologne, and has been offering motor insurance with personal service to over 220,000 customers since 2007.
In recent years — particularly in the insurance sector — the requirements for customer communication have increased more and more. Online service, which used to be a luxury, is now increasingly seen by customers as an inalienable right. The expectations of the service provided by large insurance companies: 24/7 immediate problem solving — preferably as easy and fast as possible. The exchange hurdle is low, particularly in the highly competitive insurance environment. If a customer is dissatisfied with communication options, availability or speed of service, they are more likely to switch to the competition. This is another reason why it is important to offer customers excellent service.
There are also challenges such as peak phases in the 4th quarter of the year, when the service team is struggling with a high volume of inquiries. The majority of inquiries are repetitive in nature and therefore cause manual effort that would be easy to prevent — namely through automation using an AI chatbot. After numerous pre-tests, AdmiralDirekt opted for moinAI's chatbot solution. The chatbot has been in use since 2018, automates customer communication and answers questions on the following topics, among other things:
- Login
- Report damage
- Change name
- SEPA
- EVB
- range
- hail damage
- casualty
What makes AdmiralDirekt's chatbot so good?
As described in the above cases, the chatbot at AdmiralDirekt also ensures that a high level of automation could be achieved. However, what also distinguishes the AdmiralDirekt case in the truest sense of the word is the “Top Digital Assistant 2021” award, which was awarded to the chatbot by Statista and Computer Bild.
The award is a great confirmation, which is also underlined by impressive figures: The AdmiralDirekt chatbot counts over 10,000 interactions per month and achieves a level of automation of 37%. In general, the volume of all inquiries was reduced by 12%.
➡️ You can read more about the AdmiralDirekt chatbot in the free case study.
Geberit: A chatbot that overcomes “a huge hurdle in communication with customers”
Similar to AdmiralDirekt, Geberit has also been live with the chatbot on the website since 2018. Geberit uses the chatbot specifically for the Aquaclean series, i.e. for the shower toilets. The core challenges were as follows:
- Intimate hygiene is a taboo topic
- Low market penetration in Germany
- Unknown product category
- Product that requires explanation
Although Geberit primarily conducts B2B2C communication, numerous questions still reach end customer support at Geberit. On the one hand, it was therefore necessary to automate the answering of end customer inquiries and, on the other hand, to cover sales-relevant topics, such as answering questions about benefits or costs. The focus was therefore divided into two parts: The chatbot must be able to address sales-relevant and service-relevant topics. And that is exactly what he is doing now — very successfully in fact. The digital assistant ensures that there are 25% fewer inquiries to be answered manually and was therefore not only able to reduce the manual response to customer inquiries, but at the same time increase availability to “around the clock”
What makes the Geberit chatbot so good?
The special thing about the chatbot at Geberit is that there was an unexpected side effect after implementation. While the Geberit corporate brand is very well known in Europe and is well known to many, less than 3% of the German-speaking population even know what a shower toilet is. This is primarily due to the fact that, on the one hand, this is a product that requires explanation, whose product category is largely unknown and, on the other hand, the topic of intimate hygiene is still a taboo topic. Although there are many questions about intimate hygiene and shower toilets, these are rather reluctant to ask.
This changed with the implementation of the chatbot. Since website visitors knew during the conversation with the chatbot that no one was “sitting across from them,” the barrier to also asking intimate questions about the shower toilet was reduced.
Thomas Brückle (Head of Marketing at Geberit, DACH) comments as follows: “We have found that enquirers actually much prefer talking with a machine than with a real person. Of course, it is a taboo topic,” says Thomas Brückle, Head of Marketing at Geberit. The knowledge that not a potentially judgemental person but a neutral AI is “sitting” at the other end of the chat obviously lowered the hurdle to writing about the topic of intimate hygiene.
➡️ You can find out more about Geberit and the implementation of the chatbot in the free case study.
DZT: Innovative communication in the tourism sector
The German National Tourism Agency receives a high number of recurring inquiries via various channels. 90% of messages do not actually fall within the competence of the DZT, but must still be answered. On the one hand, the DZT must therefore meet the volume of inquiries as cost-effectively as possible and at the same time fulfill its actual mission: providing information about and inspiring trips to Germany.
At this point, too, the use of a chatbot to automate and relieve the workload is ideal.
What makes the DZT chatbot so good?
The DZT is driven by innovation and keen to experiment: With the lighthouse and pilot project, the DZT developed the chat fiction game “German Castle Adventure” for Facebook Messenger, which proved to be extremely successful. “Around 35 percent of all users opened the application and played the bot until the end. They thus generated a total of 455,000 interactions. The length of stay was exceptionally high at 8.5 minutes,” LifePR, among others, reports.
In addition to the game chatbot, DZT also uses a service-oriented chatbot on its own website. This is also successful and impresses with results after just a short time:
- Over 75% of all conversations with the AI chatbot are rated as positive by users.
- Less than 10% of all inquiries have to be answered manually and result in a so-called human takeover (a human employee takes over the conversation).
- Customer communication via an AI chatbot is carried out in two languages and via two channels (website & Facebook Messenger).
moinAI managing director Frederik Schröder was a guest at DZT Knowledge Days 2020 and talked there about why the AI chatbot was so well received by users. His summary: “The acceptance of the chatbot is so high because the chatbot's content offers great added value for users. The chatbot is a communication channel of the future, it's great that DZT has recognized this and is taking this path.”
We can only underline this.
Jaegermeister: A chatbot that can rap — the Jäm Bot
The Jaem Bot is a project that moinAI developed for Jägermeister together with the agency La Red. True to the motto: “JämBot — Chatvertising for Jaegermeister”, the JämBot was the first chatbot in the world to rap.
One challenge was at the heart of the campaign — the day on which artists Eko Fresh and Ali As produced live personalized videos in the recording studio, which were then sent to users via the Jaem Bot. More than 20,000 users have created over 40,000 videos with the chatbot. In total, the campaign reached four million contacts and also caused a stir online (e.g. W&V, skyline).
What makes Jägermeister's chatbot so good?
The chatbot was a time-limited marketing campaign with which Jaegermeister was able to reach and inspire thousands of people. The media attention, demand and enthusiasm of chatbot users was impressive. Successes like this show that chatbots not only work for classic customer service cases, but also in marketing occupy an important place. They build brand recognition, promote engagement, retain people to the brand and thus turn prospects into customers.
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