Insurance social + analytics + mobility

Insurance

Brands

From Bermuda triangle of businesses

to magic triangle of businesses

Using SOCOTO’s SAM triangle Social Analytics Mobility

Insurance pain points

millions of complaints

‘delay in settlement of claims’

 “Complaints are due to a gap between the expectations of customers and service delivery of company.

We must get into the details of what the complaints are and readress them,” said S K Roy, chairman of Life Insurance Corporation of India.

Value

Analyze huge unstructured complaints from forums and social channels

Insights about complaints categories and readdress them

Inputs for complaint management workflow

Reduce the time by 20-25 % Speed up the processing Increase the satisfaction index of

consumers Save millions of dollars

Fraud detection

ClaimsSurrenderPremiumApplication

Billions of dollars

Case study The common styles in which the questions on

an application form is posed are

1. Do you consume tobacco products?2. Do you smoke? 3. Have you used a tobacco product in the last five

years?4. Have you ever consumed tobacco products?

Found that many customers were given wrong information !!!

Solutions approaches

Social network analysis

Predictive analytics

Social CRM

Technologies

Text mining Sentiment analysis Content categorization Discovery Social network analysis

,

Value

Reduces frauds Better than traditional methods Save millions of dollars

Mobility the new line of business

Real time

Reach

Responsiveness

The bliss

Predict Alert Act React Real-time

Analytics-Predict

potential insured events

Health data

Weatherdata

Vehicle data

Eventdata

Socialdata

Mobiledevices

Trafficdata

Historic data

Mobility the new line of business

Weather predictions say heavy rainsa head…

A tree crushing a parked car during a rain storm

Your car got crashedJust now!

Sending notification for claim ,OK…

Do you like to book a cab ?...

Value

Increase efficiency Increase customer experience Real time , self service Personalized

Shared experiences

Ultimate moment of social marketing

FROM SOCIAL TALKS TO

SALES TRANSACTIONS Social

Discovery

SalesStimulu

s

Experience

ShareExperie

nce

Awareness

Real time monitoring - Problems

Needs 24/7 manual monitoringDedicated resourcesDomain expertise Delay in response

Think and discovery- Solutions

Q&A system

Think and discovery- Solutions

Social media influencers marketing

Value:Understand the influence of

a consumer and use it as social capital for marketing

activities like brand ambassador .

Social media personalized marketingwith Interest graph

Value:Leverage the interest graph

for better intimacy and personalization leading to

better sales .

Best experience blending analytics , social and mobility

State of art technologies , data scientists ,domain expertise

ROI

Embrace the future digital experiences

Benefits

Thank you. Deva Reddy.J

Evam technologies deva@evamtec.com