Insurance Management System (EIMS) is installed as an overlay within an existing operational and data management system of an Insurance company.
The system improves operational efficiency by:
Reducing turnaround time: EIMS- based needs analysis systems would allow a company to improve probability of lead-to-quote conversion & reduce turnaround time conversions.
Lowering costs: EIMS solutions reduce manpower requirements and thus benefit from significant savings in overhead costs, especially those associated with routine jobs.
Improving productivity: With the EIMS performing routine activities, employees can focus on skilled tasks, building expertise & evolving the EIMS solutions.
Automatically process claim and significantly reduce turnaround time (3 min).
Revenue expansion: Real-time learning & adaptive capabilities of EIMS provide a ready platform for a company to explore new product lines, geographies & market segments, as well as quickly identify new avenues for revenue expansion.
Advisory excellence: EIMS eliminate human bias and improve trust levels by providing consistent, rule-based advisory services at an affordable cost. CSR will use virtual assistants to tackle routine tasks and focus on more constructive, creative and socially interactive challenges. Doing so will enable them to exhibit 24/7 availability to the customers.
Maximized customer experience: With virtual assistants available at various touch-points, a company can take their customer service to greater heights by offering contextual and personalized products and solutions, accomplishing “first-time right” resolutions for queries and complaints, and providing timely nudges and reminders to complete necessary transactions to maintain financial wellness.
Competitive advantage: By leveraging machine learning and the ability to read unstructured data, a company can develop a real-time appreciation of prospects’ behavioral and demographic actions, recognize imperceptible changes in the market forces that dictate those changes and forecast optimal responses.