e.IQ Platform for Insurance
Automate and digitise underwriting, claims management and core processes.
Popular Insurance Use Cases
Digital Native Insurance Solutions
Rollout AI-enabled digital solutions quickly using the power of hyperautomation.
How it works?
- Build omni-channel user interfaces that leverage existing core systems in weeks.
- Seamlessly integrate with industry best-in-class systems such as Guidewire using pre-built connectors.
- Leverage existing templates for common processes from Underwriting to Policy Administration to Claims Processing.
- Implement end-to-end process automation to ensure downstream activities are executed near real-time.
Real-time, Customer Churn Propensity Driven CRM
Understand customer preferences to improve policy renewal rates.
How it works?
- Integrate disparate customer-dependent processes through the customer lifecycle.
- Predict churn propensity in real time by assigning customers to specific call-center agents.
- Improve claims management and renewal rates.
Intelligent First Notification of Loss (FNOL)
Enable customers to report and track claims using friction-less omnichannel interfaces.
How it works?
- Authentication and deriving policy numbers from registration number and date of birth.
- Complete the FNOL details using a combination mobile, voice and computer vision.
- Built-in claim validation of claims and screening for frauds using Machine Learning and features like IP / geo-tagging.
Core Process Automation
Implement end-to-end automation of core insurance processes to achieve operational resilience and productivity gains.
How it works?
- Blockchain-based Smart Contracts for Risk Syndication and Policy Management.
- Machine learning-based reconciliation with brokers and other counterparties to reduce manual effort.
- Build solutions for core functions including automated renewal and continuous underwriting.
Talk to us today to learn how a leading vehicle insurance company was able to improve their customer lifecycle journeys using the e.IQ platform.
We have helped customers convert these use-cases into success stories.
Real time Churn Propensity Driven CRM
Client Context
A UK motor vehicle insurance company wanted their agents to have a deeper understanding of their customers when they interacted for customer service requests like claims and renewal processing.
Business Process Area
Insurance Renewal Processing
Value Delivered:
- 60% Reduction in customer churn
- 30% Improvement in Customer Experience ratings