ABSTRACT
Chat bots are nothing but artificial intelligence integrated software program which can assist a person in finding a solution for a quest to a great extent at any point of time. Chat bots are enriched with Natural Language Processing (NLP) to support a person without another human intervention or it can be more precisely defined as an ‘Automated Support’. The imparted intelligence of chat bot is now widely used in almost all sectors of business life. Insurance sector mainly implements the chat bots in applying for a policy, renewing it, enquiring the premium of a policy and registering complaints of a policy holder. And some newly developed chat bots can even detect fraudulent claims in terms of incorrect submission of data, mismatch of proofs etc and thereby rejecting the payment or escalating further process to a real human to avoid discrepancies. This paper discusses the effectiveness of chat bots developed by various insurance organisations in detecting fraudulent claims and thus provide a benchmark on them.
