Insurance

One of the company areas which can improve thanks to better decision-making is underwriting. Make a risk assessment of each potential taker. Create a risk scoring of the new contract with a minimum margin of error. Anticipate acceptance or rejection early in the process. Automate a process that today is still manual. Reduce the evaluation time of each new contract, optimizing the process and minimizing its risks.

Implement a virtual assistant to solve commercial doubts about coverage and technical standards, minimizing training costs. Reduce the dedication of technical support by subscribers.

Adapt the price of the products to each client depending on their profile and historical behavior. Offer them coverage at the most competitive price at all times. Find the balance between offering a competitive price to each client and the profitability of the company’s portfolio. Adjust product prices dynamically, seeking to maximize revenue and benefits. Take into account all market variables and trends in real time.

Have a 360 knowledge of each client. Create dynamic questionnaires and customize them for each client. Automatically offer your customers personalized content and offers. Offer them products at the right time in a personalized way. Anticipate their needs and possible competitor offers. Manages product unsubscribe requests efficiently. Select custom argumentatives to try to retain each customer.

Use a flexible tool that makes it easier to manage and close claims. Reduce the complexity of the business rules application system and decision processes. Keep the client informed at all times during the process. Align the engagement and retention strategy of the claims department with the marketing department. Implement a fraud detection system in order to avoid possible bad practices.

Define an anti-fraud strategy at all levels of the organization. Implement and optimize authentication, control, investigation and reporting systems for efficient fraud management. Implement predictive models in the early contracting phases to prevent possible future fraud. Reduce operating cost derived from bad practices. Minimize the reputational and regulatory risk of the company.