In the intensely competitive insurance industry, insurers are struggling to differentiate their
wide array of products. Pricing is no longer a competitive lever, especially since
price-sensitive customers come with lower lifetime values.
It is not surprising, therefore, that an increasing number of insurers are looking to leverage
customer experience for impactful differentiation.
In order to deliver superior customer experience, insurers must focus on improving customer
journeys across channels and business processes, from underwriting and claims handling to
distribution.
For insurers, the need of the hour is an end-to-end digital solution that maps the entire customer journey, and monitors and
measures the customer experience at each touchpoint. WNS’ Customer Experience Analytics
suite enables insurers to do just that.
Personalizing Customer Journeys across the Insurance Value
chain
WNS’ Customer Experience Analytics suite is targeted at insurance
companies focused on transforming the customer experience. The solution addresses
barriers to enhanced customer experience at every touch point
across the customer journey, by focusing on customer-oriented and operational metrics such as
customer satisfaction, loss ratio and regulatory compliance costs.
The following modules capture the end-to-end customer journey:
- Personalized campaign manager provides real-time omni-channel
personalization capabilities for customer acquisition and retention
- 360-degree customer viewer creates a single view of customers across first
and third-party databases
- Underwriting enhancer allows for informed customer risk profiling based on
a multitude of data sources
- Claims triage engine prioritizes claims resolution to avoid escalations and
triages one touch resolution claims
- Complaint management dashboard is provisioned to contact centers and
customer facing representatives, offering insights on complaint drivers and propensity of
escalations
Key Features
- Advanced machine learning algorithms to map customer behavior across various touchpoints and
devices throughout the customer journey
- APIs for connections to websites, mobile apps, claims database, policy management systems
and Customer Relationship Management (CRM) systems
- Close to real-time insights on operational and customer-oriented metrics to enhance customer
experience for improved retention
- Best-fit bespoke algorithms to achieve desired business objectives across product lines
Key Benefits
- Reduction in vendor turnaround times lead to optimized claims processing and shorter
claims-to-payment life cycles
- Actionable insights into customer complaints result in lower regulatory and legal risks
- Improved targeting of customers translates into increased product sales, reduced acquisition
costs and lower customer outreach costs
- Seamless integration of first and third-party data sets offer a comprehensive view of the
customer