Attensity Solutions for the Insurance Industry
Helping insurance agencies and self-insurers reduce costs and grow clients
As markets for property and casualty, life, and health care insurance become more competitive, customer service and customer experience are becoming key ways for firms to differentiate themselves and gain new business. In addition, costs for processing and claims resolution are rising for both insurance firms and companies who self-insure for workers compensation. Finally, in these tough economic times, fraud is rising rapidly.
Attensity helps insurance companies and self-insurers both reduce claims costs and grow their brand advocate base.
Reduce Cost of Claims
Humans communicate with stories. In insurance claims processing, everything starts with the description of what happened and the description starts with the claim report. The heart of a claim report resides in the descriptive text that outlines what the claim is all about. Policy holders, third party experts, witnesses and customer service representatives typically create this text and often write it in shorthand.
Attensity’s Claims Processing and Analysis solution is focused on the organization of claims information to both improve claims processing efficiencies and improve the accuracy and reliability of individual and aggregate claim data. Our text analytics approach enables claims service representatives and investigators to rapidly organize and analyze the mountains of unstructured data that comes in the form of claim forms, customer service notes and third party reports, including police, medical and inspection reports. It allows users to extract, from the unstructured data, who did what to whom, when, where and under what conditions -- providing a detailed view of the claim’s supporting information.
Attensity can also be used for fraud analysis. Attensity looks for over 100 key fraud indicators in the text, such as a lack of witnesses to an event, and extracts and correlates this information with other information in the claim, uncovering potential fraud.
In addition, Attensity analysis can uncover root cause information, which is key for both insurance firms and self-insurers. For example, by analyzing the text, an Attensity retail self-insurance customer was able to uncover a major cause of slips and falls, taking corrective action and reducing subsequent injuries and claims.
Grow Brand Advocate Base
Attensity helps business users discern and capture the Voice of the Customer from online media such as blogs, forum postings and news articles, from email, chat interactions and contact-center dialogues, and from surveys and other mechanisms for collecting customer feedback.
This customer feedback can then be used to develop and introduce new products like homeowners insurance for customers who prefer one-stop shopping for their car insurance and homeowners insurance and umbrella coverage for customers who may need more protection than what a standard car insurance policy offers.
In addition, you can use customer feedback to refine customer service experiences. For example, one insurance company’s customers wanted the option to receive their policy documents electronically, so this company now offers customers the choice of receiving just bills, or bills and policy documents, electronically.
With Attensity Analyze for Voice of the Customer, you can more effectively transform text into actionable information -- converting first person customer feedback into First Person Intelligence™ and leveraging customer comments being made in social media, in forums and blogs, in your customer service records, in emails, and more.
You can see at a glance what issues are driving customer service scores up or down, judge the success of a new offering, or help clear up sources of confusion at the agent level. Are your biggest issues with agent non-responsiveness? With the complexity of your automated phone tree? With your pricing or claims fulfillment speed? With Attensity, you no longer need to guess – you know.
Attensity Cloud analyzes the market buzz around your products found in web community and discussion forums, online product reviews and countless social media sites.
Attensity Respond can help you automate up to 100% of your inbound and outbound customer communications in your contact center. You are now able to efficiently and effectively provide personable and accurate answers to the growing number of emails, comments and suggestions that you receive from your customers everyday. It can even "read" communications in social media such as Twitter, and automatically route those messages to the appropriate social media staffer or agent for response.
At the same time, improve customer service and multichannel sales by empowering those customers who prefer to self-serve. Attensity Service makes sure that your agents tap up-to-date product information, delivering operational efficiency and better customer service through continuously updated knowledge bases and easy-to-use service portals. Think of the value of being able to capture the experiences of your entire customer base in a self-service environment. Now, not only are you taking customer service to a zero-cost level, you’re significantly increasing the value of your knowledge bases with this direct customer experience, based on customers-being able to interact with other customers who have had similar experiences, or who might have additional insight as to how to troubleshoot problems or assist with the learning curve.
