Insurance companies face a number of challenges when it comes to managing customers
and understanding their business in an omnichannel environment.
Agents often lack a 360-degree view of the customers they serve,
which can result in decreased customer satisfaction.
Without tools to measure business operations, executives lack actionable insights.
Meanwhile, claims leakage and customer attrition can lead to increased costs.
Now, you can go from omnichannel to “Always-on,”
with the Always-on Customer Engagement solution for Insurance, from Microsoft.
Always-on Customer Engagement provides a continuous customer experience to help improve satisfaction.
It generates the data your business needs through live support and self-service channels
to gain insights and make improvements that can reduce costs.
James Hobbs is a customer who needs to file a claim.
To make it easy for customers like James to reach them, Contoso provides self-service options,
including a web portal with knowledge base articles and a virtual agent driven by Microsoft AI
that customers can chat with any time of day or night.
Since James is logged in to the portal, the virtual agent already knows what policies he holds,
and James simply chooses the applicable policy, which, in this case, is home insurance.
The agent walks James through a series of questions in natural language
to help gather all the information necessary for assigning the claim to an adjuster.
James explains that the damage was caused by a fallen tree.
He can even upload a photo of the damage.
Just like that, the intelligent virtual agent is able to handle the first notice of loss
and assign the claim to an adjuster while also gathering important data about James
that will enrich his profile and contribute to deeper customer insights.
Jennifer Bridges is a claims executive who is investigating claims leakage at Contoso.
Using a Power BI dashboard built on Dynamics 365,
Jennifer can drill into her customer data to discover insights she never had before.
She sees that her average claim settlement costs have been going up year over year,
indicating higher leakage, and now she can begin to investigate why.
Jenn uses slicers to filter the data, first by claims unit, then by policy type,
to see if there are any obvious correlations with settlement costs.
Jennifer knows that Contoso’s agents refer to knowledge base articles
to help determine coverage limits and exceptions when adjudicating claims,
and she notices that one particular article is getting a lot of use.
When she slices the data to include claims related to this article, she sees that the settlement costs are up,
whereas when she looks at the next most popular article, she sees those costs are down.
This strong correlation indicates a problem with the knowledge base article
that may be leading to higher leakage.
Having traced the leakage to a flawed knowledge base article,
Jennifer uses the Always-on Customer Engagement solution to quickly fix the error.
After correcting the exceptions outlined in the article, Jennifer quickly updates the document
and confirms the change so that it is immediately available for agents to use.
Later in the year, while preparing for her quarterly review,
Jennifer checks the Power BI dashboard to see if claims leakage has improved.
Across the board, average claims settlements are down
and, as the knowledge base article is still the most used, the update Jennifer made was key.
You’ve just seen how Always-on Customer Engagement provides a continuous customer experience
to help improve satisfaction and generates the data your business needs through live support
and self-service channels to gain insights and make improvements that can reduce costs.
For more information, contact your Microsoft representative or visit our website.