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INSURANCEMAKE THE BUSINESS OF RISK REWARDING WITH AN

INTELLIGENT, CONTINUOUS EXPERIENCE MODEL

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The prevalence of insurance industry aggregators, the increase of innovative new entrants, the rapid proliferation of comparison websites, and a generation of digitally empowered buyers have fundamentally transformed the insurance industry. Further, increasing product commoditization and the growing influence of third-party advisors & corporate alignments are driving enterprises towards an end to end digital ecosystem.

To remain competitive, insurers need to leverage data to precisely identify customer needs and create new products, aligning with a robust partner ecosystem. CRMNEXT enables a digital platform empowered with AI driven digital journeys and processes that significantly boosts contextually driven business moments, making managing risk and serving customers immensely rewarding.

HOW

Where Managing Risk isRewarding withRich Value Networks

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Cloud Native Continuous Engagement PlatformAPI driven Ecosystem | New Business Models with Real Time Augmented Analytics | Assisted Artificial intelligence

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Demand Generation with Intelligent Digital JourneysEmpower customers to buy insurance policies with intelligent digital journeys across unassisted, assisted, any channel and partners that are adaptive, integrated and frictionless. Dynamic personalized offers enable customers with real-time visibility on eligibility, auto fill applications, upload documents and get application status.

New Business AcquisitionCapture lead information across web, phone, branch, SMS, email, mobile, chatbots and self service portal. Seamlessly integrate multiple systems including business underwriting, document management system (DMS), mail room, analytics and other systems. Automated assignments based on adaptive business rules with various parameters like geography, skills, branch etc ensure that you can respond to insurance inquiries quicker than ever before. Create intelligent fulfilment workflows with pending management and pre submission verification. Increase conversions with higher engagement activities through seamless calendar and activity management.

CUSTOMER LIFECYCLE MANAGEMENT SALES

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Customers mention fasterresponse time as #1 factorfor policy purchases.

85%

Customer OnboardingDeliver digital-only, self-driven or assisted onboarding experience that is non-intrusive and available on demand. Enable easy referral management and automate end to end workflow from welcome letter to policy documents. Get full visibility of the deliverable status from initiation to delivery or return mail to client. Eliminating manual processes that earlier lead to delays and errors. Drastically reduce post issuance grievances and ensure consistency with unique pre-issuance and post-issuance calling processes.

Renewal ManagementCRMNEXT delivers a holistic view of each renewal case, enabling users’ case statuses in a single glance. Increase persistency rate by running targeted revival campaigns that entice customers who haven’t paid their premium or their policies are lapsed to pay their premium. Stakeholders can generate real time reports to monitor revival campaigns and performance of contact processing centers. Centralized DMS allows users to refer to product specific documents when customers enquire about specific product features during a call. Automatically create agent calling workflows with assigned dates with real time notification and alerts. Enable predictive/progressive/preview dialling methods for reaching customers in various buckets and enable disposition based data

recycling.

Cross SellCRMNEXT’s Trinity Cross Sell Modelers analyzes existing customer intelligence in real time to provide contextual, dynamic and personalized cross sell offers with automated decisioning processes for instant approvals. It enables users with the capability to cross sell/up sell with guided call scripts.

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Policy ServicingGet a comprehensive policy summary with a 360 degree view, automated and end-to-end processes for policy amendments with a policy action center, funds changes, reinstatement, policy transactions, surrender, and retention. Additionally, it facilitates faster and convenient payouts and claims processes including initiation, workflow, policy riders, approvals, intimation, and dispatch tracking. After processing the policy service requests, agents can generate and send letters straight out of CRMNEXT.

Grievance ManagementIntegrate with grievance management systems and be fully compliant with insurance regulatory bodies. Auto sync case statuses with regulatory portal. Enable auto updates and auto closures on complaints.

Claim ServicingEnable customers to initiate and track claims across channel of their choice. Start claim investigation journeys and fast track claim processes. Facilitates faster and convenient payouts and claims processes including initiation, workflow, policy riders, authorization matrix, intimation, and dispatch tracking.

CUSTOMER LIFECYCLE MANAGEMENT SERVICE

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Customer Servicing with a Comprehensive 360CRMNEXT comes with out of the box, customizable views that display a holistic Household 360, Customer 360 and Group 360 degree view that includes customer information, contact information, interactions, preferred contact channel, associated opportunities, service requests ,escalations and customer history etc and provides real time updates and complete intelligence on a customer service request. Inbuilt template management in CRMNEXT allowed service teams to configure plain text, SMS, Email, PDF/print, multilingual templates with mail merge functionalities that can also be used in automated acknowledgement. Autoflow designerTM allows users to create configurable workflows that capture all types of service requests across channels. Seamless integration with automated dialer, SMS, Email, social media, chat, CTI/IVR allow agents and distributors to connect with customers online.

Well defined escalation management allows rule based escalation and reporting of service requests in case of TAT breach. Centralized Document Management System (DMS) allowed agents to fetch and store KYC documents, collaterals etc.,as an attachment for customer or internal communication. Advanced report creation wizard allowed for creating multiple reports such as service reports on backlogs, closure statistics etc. It also has the functionality to add graphs (single-axis/ multi-axis, graphs, pie charts etc) and filters to the final generated report. Enable automated quality audit processes.

Higher First Touch Resolutions (FTRs)With CRMNEXT, you can achieve high first time resolution rates with straight through processes, smart chatbots, automated call scripts, realtime help, and exhaustive solution bank. CRMNEXT also enables an open communication platform like WhatsApp, ChatBots, Google Business Messaging, Facebook Messenger, Instagram etc. to ensure faster resolution of routine and complex service issues.

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Voice of the Customer (VoC)Proactively listen to your customer’s voice with predictive analytics like sentiment analysis, happiness score, customer satisfaction surveys across channels and touchpoints. Proactively capture customer expectations, preferences and needs.

Quality ControlSet the highest quality standards in the insurance business with superior data quality analysis, including Extraction, transformation, and loading (ETL) and Online analytical processing (OLAP). Analyze data in cubes using with and cube-based reports, with an easy to use, self serving interface. Generate quality score based on multiple criterias and weightages. Enable end to end quality control processes, while reducing efforts and being 100% regulatory compliant with auditing.

Enable Self-serve PortalsCRMNEXT enables digital empowerment to the customer by creating automated sales and service processes with zero manual intervention for all products. What’s more, you can now deliver instant sales and service fulfillment with automated underwriting and decisioning with intelligent business rules and integration with backend and third party systems for end-to-end processing.

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RecruitmentDeliver best in class insurance products and services by taking a new approach to partner recruitment with an infusion of technical skills and softer skills in customer engagement and empathy. CRMNEXT cultivates these capabilities with seamless integration with third party ecosystem partners and providers and delivers active referral management.

OnboardingSeamless onboard partners and process volumemous interactions with a high performance, scalable partner portal. Cut down onboarding time from months to just days. Enable partners and distributors to connect better with their customers.

Partner 360CRMNEXT helps you to build complete, 360-degree view of intermediaries and agents. It enables partner segmenting into various value bands based on revenue potential and profitability. Integrate partner data from multiple sources with strict security and privacy controls. Scale up and adapt to increasing volumes and dynamic data variety.

PARTNER LIFECYCLE MANAGEMENT

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Partner ServicingAddress the key needs of partners with a powerful dispute management platform and comprehensive 360 view of the latest service request, interaction history and other details. With the help of centralized knowledge management and other valuable history at the fingertips, service teams are able to deliver high First Time Resolution (FTRs). Fresh service requests are auto-allocation to the right team and user based on powerful assignment rules. Manage licences and take partner surveys and feedback regularly. Stakeholders are able to view and follow service requests through various view buckets allocated to them until the final closure.

Performance OptimizationUtilize CRMNEXT’s Catalyst Performance Modelers to boost performance with out of the box, big data driven models. Get the best from partners by setting advanced analytics based incentives. Deliver higher impact on sales with role specific models, split and omnichannel incentives etc. Get granular insights on a rep’s performance and recommendations for next best actions. Gamify Partner sales processes, boost conversions with higher performance and increase persistency ratio.

Augment Partner Capabilities with AIEnable partners to automate engagement with chatbots, virtual assistants and natural language processing, employ predictive customer analytics and increase usability and efficiency for partners and customers. Empower them with AI powered nudges to increase conversions, thus boosting loyalty and profitability.

Own Customer Relationships with API Driven Partner EcosystemIntegrate with partner APIs to take advantage of partner networks and leverage big data to personalize offerings and enable customer segmentation. Innovate at scale with specific product offerings like mini insurance packages at partner touchpoints like mobile centers, amazon, car service centers etc.

Sales Managers face challenge in getting timely intermediary performance intelligence.

90%

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Deliver AI, Bot Driven Concierge ServiceGet real-time service prompts, customer intelligence and better data with the capability to collect, analyse and action on the wealth of data available across transaction systems, social media, mobile apps, operations etc. Deliver proactive service with ML, NLP capable bots across email, voice and chat for a continuous, parallel multi- channel experience.

Next Best ActionsOut of the Box Big Data AI models powered by customizable data lakes and data warehouses on DATANEXT, process huge volumes of real time customer data. Significantly boost business moments and conversions with intelligent processes, real-time alerts, nudges, straight through processing and next best actions.

Predictive Scoring and Prescriptive ActionsLeverage big data analytics and AI models from DATANEXT platform for real time, predictive analytics like lead scoring, opportunity scoring, happiness score, engagement score, sentiment analysis from conversations, insights based on real-time events, transactions channel usage etc.

AI ENABLERS

Contact: sales@crmnext.com

www.crmnext.com | B highimpactcrm.com | L @crmnext

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