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Insurance Operations Analytics

Insurance Operations Analytics

Reduce intellectual waste, enhance operational efficiency, optimise the customer experience and broker experience

Understand and address the drivers of waste, inefficiency, staff and customer churn.

Corporate office building
"97% of customer requests in insurance are incorrectly routed to an underwriter first, requiring them to send it on to the right place."
"97% of customer requests in insurance are incorrectly routed to an underwriter first, requiring them to send it on to the right place."
Channels
Email
Chat
Support tickets
Calls
Social media
Reviews
Support calls
Support chat
CRM notes
Connected systems
Workflow
CRM
Mail and calendar server
RPA
RPA: Blue Prism, UiPath, Automation Anywhere or micro-service for automated actioning
Avg. implementation time
1 month
Avg. time to value/ROI
1 month

Problem

Insurance firms are under increasing pressure to drive growth, increase operational efficiency, reduce intellectual waste and improve the experiences of customers and brokers.

Conversations are critical events in customer journeys and business processes - in emails, chats and case management systems. Every conversation contains valuable information about customer needs, products, services and processes.

However, most insurers lack both the infrastructure and capacity to analyse and automate their communications data at scale. Underwriters continue to spend an unsustainable amount of time servicing low-skill, low-value requests instead of creating new business for the firm. In a crowded and competitive market, this is leaving insurers exposed to more agile competitors as well as regulators.

Solution

Re:infer Communications Mining understands every client conversation across all channels, whether voice or text-based. A no-code solution, it uses natural language processing to automatically discover and tag valuable insights, including drivers of workflow, handling time, service quality and productivity.

In the direct channel, Re:infer automatically classifies the intents, sentiments and emotions contained in multi-channel conversations, including chat, voice, emails, and customer feedback. Re:infer builds a real-time picture of the customer’s experience, their wants and needs. In the broker-underwriter channel, Re:infer extracts actionable client intelligence that drives cross-sell opportunities and actionable product feedback.

In claims, Re:infer classifies, routes and processes claims descriptions in minutes rather than days.

In operations, Re:infer automatically discovers and identifies inefficient manual processes that make ideal candidates for automation.

Benefits

Communications Mining gives you complete visibility over service levels and communications channels, enabling you to:

Optimise the customer experience and broker experience

Re:infer builds a complete view of the customer journey by automatically identifying experience across all comms channels. Discover the drivers of churn, failure demand and value to understand the behaviours that strengthen customer loyalty. Uncover actionable insights that drive personalisation and promotions.

Drive operational efficiency in every channel

Gain deeper insight into the manual processes that create the greatest waste and inefficiency. Discover manual and repetitive processes in operations and identify those most suitable for automation. Gain visibility into root-cause errors and quantify decision-making processes.

Reduce churn and enhance the employee experience

Identify and protect your highest-skilled, most valuable staff. Understand the causes of staff churn, automate repetitive comms work and allocate your best people to the most important work.

Trusted by leading organisations to drive digital transformation

Hiscox saves £240k and halves handling time with Communications Mining

Specialist insurer Hiscox used Re:infer Communications Mining to discover process inefficiencies in its underwriter workflows.

  • £240k saved in FTE cost avoidance
  • Time taken for work to enter workflow down from 2-3 days to 2 hours
  • Request turnaround reduced from 5-7 days to 3.7 days

Learn more

Communications Mining Explained

Communications Mining provides accurate, scalable and repeatable conversation analytics capabilities for discovering change opportunities.

Using state of the art natural language processing technology, Re:infer detects process inefficiencies, exceptions and risks expressed in communication data.

Communications Mining is suited to multiple cost levers, including automation, self-service, workflow, systems and data.

Learn more about Communications Mining

  • <sub>1<sub>Re:infer, Internal customer audit, 2021
“Re:infer has transformed how we do business, and I know we’ve only scratched the surface of what it can do. We’ve saved time and resources that can now be put toward serving our clients better than ever."

Turn business conversations into business value

Turn any conversation into actionable data

Drive operational efficiency and optimise the customer experience with Re:infer’s Conversational Data Intelligence Platform.

Extract crucial insights and automate manual service requests with Re:infer’s Conversational Data Intelligence Platform.