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Stuti Singh Magdani

Stuti Singh Magdani

Stuti is the Sr. Product Development Manager at Aureus. She has completed her Bachelor of Engineering from Krishna Institute of Engineering & Tech & MBA (IT) from Symbiosis Centre for Information Technology, Pune. She has worked with Culture Machine, Citrix, Cummins, HCL Technologies.

Recent Posts:

Technology is Key to Surviving in the Modern Insurance Market

Digital is the key player in this time of the Covid-19 pandemic. Insurance companies are embracing digital channels now more than ever to reach out and connect with current and prospective customers. Covid-19 has changed the public’s outlook on insurance. Its value is perceived to be more critical as folks are considering the consequences of not being covered. Because of this, it’s essential now more than ever to provide consumers the ability to research products online without the assistance of agents, and at the convenience of their own home. Insurance companies must provide the tools and means to analyze various insurance products, provide price transparency, and a clean digital environment that is easy to navigate and execute.

How to Structure the Sentiment Analysis Process for Insurance Data

Sentiment reveals a lot about what customers think about an insurance brand, including how well customer representatives are resolving issues and how happy customers are with the underwriting process. This is where the sentiment analysis of structured and unstructured data can help insurers understand how their customers are feeling.

How Intelligent RPA will Improve the Customer Experience

RPA is Changing Lives The digital marketplace is extremely challenging. Businesses must stay ahead of the game by being innovative and creative to continually provide automated processes that will improve the customer experience. Robotic Process Automation (RPA) and Digital Process Automation (DPA) are the front runners by being one of the fastest growing segments of business technology these days. Globally, the RPA market size was valued at USD 597.5 million in 2018 and is expected to register a compound annual growth rate of 31.1% between 2019 - 2025.

Listen to the “Voice” of your Customer

Virtual assistants like Siri, Cortana and Alexa as well as other speech synthesis techniques have solved many customer use cases by offloading repetitive and mundane searches or activities. Customer-oriented businesses leverage this technique to provide better operational efficiency and improve customer experience. They can then run analytics over the voice/audio content to derive predictions.

    Related Posts

    Data and Innovation: 2 Sides of the Same Coin

    As we set our feet in 2023, having experienced a roller-coaster ride last year thanks to the geopolitical tensions and some lingering rub-off effects of COVID-19, it drives home that "change is the only constant." Like any other industry, insurance is undergoing paradigm changes at different levels, whether recruiting potential candidates or customer onboarding, to name a few. However, a common thread that ties the myriad business functions of an insurance company has been data and innovation. There has been an ever-increasing need for insurance providers to use data and embrace innovation in their routine activities, eventually to stand the cut-throat competition.

    Intelligent Risk Assessment in Insurance

    Risk Management is a core function within the insurance industry. It is a vital responsibility of the underwriting team. Insurance companies collect data scattered across different business units in various formats – some of which are paper and digital, most of which are typically unstructured. The underwriting team doesn't have immediate access to the information required for internal and external decision-making, resulting in delays in making decisions and costly mistakes.

    Why Does the Long-term Nature of Life Insurance Products Make Customer Retention Difficult?

    Most insurers offer similar products and services, which makes it challenging to attract new customers and retain them. As an industry, insurance is low-touch, and insurers seldom interact with their customers. A report shows that the top companies have an average customer retention rate of 93 - 95 percent, while insurance companies have an average of 84 percent.