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 be result in decreased customer satisfaction. Without tools to measure business operations, executives lack actionable insights. One can go from Omnichannel to 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.
Here is now how this solution helps both customer and the claims executive.
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 into 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 can 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. Jen 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-based articles to help determine coverage limits and exceptions when adjudicating claims, and she notices that one article is getting a lot of views.
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 a knowledge-based article that may be leading to higher leakage. Having traced the leakage to a flawed knowledge-based article, Jennifer uses the AlwaysOn 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 claim settlements are down and as the knowledge base article is still the most used. The update Jennifer made was key.
Source: Microsoft Dynamics 365