Vast majority of Insurance Customers Prefer Conversational AI and Messaging Experiences.

• Position: [SALES]

* LivePerson, Inc. (Nasdaq: LPSN), a global leader in conversational AI, has announced the findings of its 2020 Survey of Consumer Preferences Around Insurance examining consumer attitudes and behavior around interactions with insurers, messaging, and conversational AI and commerce. The 2020 survey of more than 2,500 U.S., U.K., and Australian respondents reveals that the vast majority of consumers trust messaging experiences and chatbots to help them with insurance questions.

The survey results point to the need for insurers to put AI-powered messaging options front and center to accommodate evolving behaviors. Nearly half (49%) of respondents said the pandemic has made them rethink their medical and life insurance policies, and 63% say they would use an insurer's chatbot that could instantly answer questions, including those related to COVID-19 symptoms and testing.

"The relationship between consumers and their insurers is built on trust, and the vast majority of consumers now clearly report that they trust insurance companies more if they provide the option to message to get advice, ask questions, and even make purchases," said Robert LoCascio, founder and CEO of LivePerson. "This is a win-win for policyholders and insurance companies. Policyholders can engage whenever and wherever they want on the messaging channels they love using with family and friends, and insurers can leverage conversational AI to reduce call volume, boost self-service, and exceed customer expectations with an end-to-end digital experience tailored to their needs."

KEY FINDINGS OF LIVEPERSON'S 2020 SURVEY OF CONSUMER PREFERENCES AROUND INSURANCE ARE:

* Consumers say conversational insurance experiences are in high demand.

* 75% of consumers say they prefer to have a conversation with someone at their insurance company before making a purchase.

* 70% say they want the ability to securely text or message with their insurance company.

CONSUMERS EXPRESS HIGH LEVELS OF TRUST IN CONVERSATIONAL AI AND MESSAGING FOR INSURANCE.

* 70% of consumers say they trust an insurance company more if associates are readily available via...