Solutions need to have the following attributes:<\/p>\n
Transactional Immediacy:\u00a0 Regardless of whether the transaction is\u00a0 quote\/application, endorsement, billing or claim, the analytics and intervention must be immediate, ideally\u00a0 within the\u00a0 few minutes\u00a0 of\u00a0 the\u00a0 transaction\u00a0 session\u00a0 whether\u00a0 it\u00a0 be\u00a0 online,\u00a0 on\u00a0 the phone or\u00a0 via\u00a0 an\u00a0 Agent portal.\u00a0 Failing to address the issue immediately at the point of the transaction is to lose the opportunity until the next transaction.<\/p>\n
Specificity: Any intervention must be to address a specific, fact based issue. Without specificity, the intervention simply irritates customers and increases abandonment. With specificity, carriers get both high levels of deterrence: fraudsters realize the carrier is on to their game and the ability to rescue customers that\u00a0 have become confused by the process, getting them back on the path to coverage. This is critical because the fundamental nature of fraud detection means there almost always are more ‘false positives’ and ‘true positives’ so sorting between them on the specific issue is critical to maximizing channel yield.<\/p>\n
Intelligence\/Engagement: Customers quickly discover if a process is ‘serious’ or if it is just ‘box ticking’. It’s essential that any information of documentation (images, documents, additional data) trigger the appropriate response ‘as if’ a traditional, conscientious agent was doing the questioning\/request. Simply asking for a document or images of the vehicle without applying quality control\/intelligence will lead to high levels of spurious and flippant responses and increased customer dissatisfaction “why are they wasting my time? they don’t even look at this stuff”.<\/p>\n","protected":false},"excerpt":{"rendered":"
Solutions need to have the following attributes: Transactional Immediacy:\u00a0 Regardless of whether the transaction is\u00a0 quote\/application, endorsement, billing or claim, the analytics […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-1291","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"\n