Companies design application processes to provide the best possible experience for their customers. These processes rely on application and customer-originated events to function. These events and their outcome form the basis of the customer’s experience. Therefore, event-driven philosophy is an ideal way for companies to measure customer experience.
The field of artificial intelligence has always envisioned machines being able to mimic the functioning and abilities of the human mind. Language is considered as one of the most significant achievements of humans that has accelerated the progress of humanity. So, it is not a surprise that there is plenty of work being done to integrate language into the field of artificial intelligence in the form of Natural Language Processing (NLP). Today we see the work being manifested in likes of Alexa and Siri.
One of the challenges insurers face when implementing any new cloud-based application into their workflow is the integration of both internal and external data. Gaining access and permission to use internal data can be the first hurdle. Adding the requirement to format the data in a specific format can be a show-stopper.
Insurers have a near-constant stream of unstructured data at their disposal that can be used to drive growth by improving policyholder retention and identifying cross-sell and upsell opportunities. One of the challenges for insurers is sorting through this mountain of unstructured data quickly to gain an accurate understanding of the sentiment of their customers in real time.