Heading Live Icon ON-DEMAND Webinar

How insurers are using advanced analytics to improve retention rates

Capture, track & predict transactions to better attract and retain customers in the world that breathes Omnichannel!

Watch the Recorded Webinar

Broadcast Date : June 26, 2019 | Wednesday | 10 AM BST

Key Takeaways

  • Know where you can incorporate machine learning and AI in insurance value chain
  • Using AI and advanced analytics for advanced customer profiling, customer retention
  • Insuring the insurer, finding out what it takes to remain competitive
  • Gathering insights into building advanced analytics-based solutions

Why Watch

The insurance industry has undergone a massive transformation as a result of changing customer sensibilities and accumulation of massive amounts of "exhaust data, disseminating from social media, multimedia, smartphones, etc. Using advanced analytics and leveraging both sensor data and machine learning, insurers can now predict customer preferences and expectations resulting in better customer service. At the same time, it is also possible to address issues that are contentious for insurers, such as justifying a claims rejection with impunity. Not only that, advanced analytics and AI also enables insurers to speed up processes such as claims processing, lead time issuance, which are extremely critical for the hyper-connected millennial customer.

Unfortunately, despite the multiple opportunities that AI and advance analytics provides, insurance companies are unable to reap the said benefits as incorporating AI and analytics, in the value chain poses a major challenge for them. Also, while predictive analytics and machine learning is fast emerging as a priority for insurers as they struggle to retain customers and cope up with complex claims and policy transactions, they remain clueless about where and how to do it.

In this webinar "How insurers are using advanced analytics to improve retention rates" Anand Singh Bhandari, Director Business Intelligence and Analytics, and Surbhi Kocchar, Sitecore, technical lead, will provide valuable insights on how insurers can capture, track and predict data and customer transactions with new technologies, advanced techniques and business models, and thereby retain the competitive edge.

Meet Our Team

Anand Singh Bhandari Director, Data & Business Analytics Services, Espire Infolabs

Anand heads the Data & Business Intelligence practice for Espire, playing the lead role in establishing best practices and our roadmap for robust BI projects. He ensures development & implementation of frameworks for rapid project deployment, along with capability enhancements.

Shariq Imam Vice President, Sales, EMEA, Espire Infolabs

Shariq is a result oriented professional with over 13 years of strong domain knowledge in the EMEA market, across diverse industries. Over the years, he has been helping organizations enhance their business ecosystem & customer experience - led by digital transformation initiatives.