Measuring perception towards AI-based chatbots in Insurance Sector

Abstract

Recent developments in artificial intelligence (AI) technology, many industries, including banking, insurance, and e-commerce, have begun to adopt this cutting-edge technology to provide customers with timely information and service suitably. However, nothing is known about how Generation Z perception about chatbots using artificial intelligence in the insurance sector. In this paper, we surveyed 120 participants (Generation Z) about their perspectives on using chatbots that AI drives. Our study revealed that although participants in our study had little knowledge or experience with AI systems, they typically had a favourable opinion of chatbots. Most participants expressed high levels of comfort and willingness to use health AI technologies and felt that AI might be helpful as TPA (third-party administrator). Some inherent aspects include knowledge about AI applications and digital literacy playing an essential role in generation Z perceptions of using AI-based chatbots. People with high technical knowledge believe AI chatbots may help them better understand insurance. The study's findings also reveal a significant relationship between knowledge of AI applications, experience with chatbots, and chatbots potential to help respondents' understanding. This study contributes to both researchers and the industry by advancing our understanding of the perception of AI-based chatbots in the insurance industry, emphasizing the likelihood of AI.