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.
