The Insurance Industry, is faced with rising competition, evolving customer preferences and tighter margins. There is an increasing lack of trust and product knowledge among the new generation of buyers. The ability to use and monetize new sources of data to understand customers and personalize experiences for them is going to be the differentiator. The landscape today demands strategies that go beyond the scale of exposure and underwriting expertise.
BRIDGEi2i’s Insurance Solutions leverage sophisticated AI & machine learning capabilities and domain contextualization to deploy accelerators that help Insurance businesses provide enhanced customer experience, drive better sales performance & effectiveness and transform legacy business processes.
Sales Decision Engine
Sales leaders are constantly exploring avenues to improve sales visibility & transparency, revenue predictability, intervention timing and agent enablement. Having complete visibility and control on key metrics help set the right targets, allocate leads and opportunities better and enable agents with intelligence and deal level recommendations across product lines.
BRIDGEi2i’s Sales Performance & effectiveness solution helps sales organizations transform into high-performance teams by providing complete visibility and control of the sales process and helps in delivering actionable insights for better and faster decision making. Here are the key modules of the solution
Sales Watchtower: Provides complete visibility sales performance and better predictability of sales closure numbers with automated tracking of performance metrics, competitive intelligence and enables intervention at the right time through intelligent alerts.
Sales Recommender: Enables informed decisions around pursuits based on lead & opportunity scoring, better cross sell conversion through product mix recommendations and higher win rate through deal level sales action recommendations.
Sales Optimizer: Enhances sales process effectiveness and planning by providing better sales forecasts to drive better.
The solution easily integrates with CRM systems and can be customized for any business environment.
Data driven hyper personalization is at the core of enhancing customer experience, and therefore business growth, today. All companies invariably capture a plethora of data about their customer through multiple interaction points. Most, though, don’t harness all the data that gets captured. From historical buying pattern to app browsing behavior, this data can be leveraged for a real time hyper personalized outreach.
BRIDGEi2i’s Marketing Personalization solution takes a holistic problem-solving approach that underpins data engineering, machine learning algorithms as well as enterprise tech stack integration. Our proprietary solution accelerator in this area, BRIDGEPersonaTM, generates real-time adaptive hyper personalized recommendations, shortens time to deployment, with a solution architecture that is fully configurable to a bank’s need.
Personalized Recommendation Solution for a Leading Financial Services Firm
Claims Fraud Management
BRIDGEi2i’s AI-powered Claims Fraud Management Solution enables insurance firms identify suspicious activity, uncover latent collusive relationships and detect new emerging patterns of fraudulent behavior. Our solution leverages advanced machine learning techniques and harnesses non-traditional data to detect incremental fraud patterns as well as minimize false positives.
Our Claims Fraud Management Solution uses BRIDGEi2i’s AI accelerator, the WatchTowerTM is seamlessly integrable to any claims processing/ workflow system and is customizable to specific needs of the line of business.
The key solution components entail:
- Holistic View of Claims – AI engine uses all information available on claims including unstructured information such as images and text
- Combination of ML techniques – Multiple algorithms work in tandem to identify a wide spectrum of fraud types
- Forensic Investigator – Visualization network analysis, prioritization of suspicious relationships for speedier investigation
Incremental Fraud Capture for a Global Insurance Major
Customer Support – Personalization
With advances in digital channels and no dearth of choices, consumers are expecting real time personalized experiences across industry sectors. The poor perception around insurance products, lack of knowledge and trust issues have added to the customer support challenges for Insurance companies. How can Insurance companies provide better customer experiences, reduce churn and improve loyalty in such a complex environment?
BRIDGEi2i’s AI-powered Customer Support – Personalization solution provides real-time customer insights by analyzing customer interactions and uses machine learning algorithms to identify customer issue patterns and predict potential escalations. The solution also recommends the best course of action for addressing potential issues and triggers for enhancing customer experience.
Digital Customer Acquisition
With the explosion in the number of channels and digitally savvy customers, Insurance companies are grappling with the ability to identify the right channels for potential customers and aligning efforts to those channels at the right time with the right message. To sustain customer growth, marketing needs a data driven approach to omnichannel customer experience while ensuring optimal utilization of budgets.
BRIDGEi2i’s Digital Customer acquisition solution combines Data Science and AI-powered recommendation and optimization accelerators to help Insurance companies develop a clear understanding of customer needs, prioritize marketing channels and provide personalized customer experiences. The solution provides a real-time monitoring and alerting system for contribution and impact of each digital channel and prescribes actions for decisions on optimum channel mix for achieving marketing outcomes.
The dynamics of the ever-changing business environment, the evolution of the workplace and generational shifts in organizational culture have pushed HRs to reconsider traditional employee engagement strategies.
BRIDGEi2i’s AI-powered Employee Engagement solution provides real time visibility for key metrics and delivers actionable insights to help HR organizations bring science to talent acquisition, resource management, and employee engagement.
Employee Engagement Monitoring for Global IT Services Company
BRIDGEi2i Delivers the AI Advantage in Analytics
The rise of AI technologies have the potential to revolutionize the insurance industry, from underwriting, to fraud detection and claims. BRIDGEi2i’s ability to analyze new formats of data such as videos & images using technologies like computer vision and real time anomaly detection through sophisticated machine learning algorithms are helping Insurance companies increase accuracy and drastically reduce claims processing times. On the risk side of the business, our proprietary machine and deep learning models have enabled automated fraud detection and alerting. Apart from driving operational efficiency across the board, BRIDGEi2i’s AI solutions also help insurance companies improve customer experience through personalization and recommendation of next best action for customers.