Using Speech Analytics to Understand
Insurance Customer Behavior

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Customer 360 for Insurance:
promise, pitfalls, roadmap for success

Profound changes are taking place in the insurance industry both in personal and commercial lines of business, so how do you remain relevant with all this disruption? If you are like many insurance companies, you may be facing flat market growth today, falling customer retention rates, and the need to reduce operational costs and improve profitability.

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We get it.

At the same time, your company has to offer products that help you stand out from the crowd. Your customers demand a more personalized experience, even customized offerings to meet their distinct needs. Yet data proliferation makes your job harder and harder.

We transform your analytics

Saama's Insurance Analytics combine significant experience in modern data architecture design and construction with advanced insurance analytics applications. We specialize in solving business problems like churn, fraud, underwriting profitability using data science. Our insurance customers achieve a competitive edge after gaining deeper levels of real-time business and operational insights, greater market speed, and customer intimacy.

We transform your analytics

Saama's Insurance Analytics combine significant experience in modern data architecture design and construction with advanced insurance analytics applications. We specialize in solving business problems like churn and fraud, underwriting profitability using data science. Our insurance customers achieve a competitive edge after gaining deeper levels of real-time business and operational insights, greater market speed, and customer intimacy.

Insurance Solution Areas

Fraud Analytics and Claims Optimization

A $35-Billion Problem

Insurance loss to fraud is significant, and growing. Yet disparate legacy claims systems abound — whether from acquisitions or internal organic growth — and have resulted in data silos that make fraud analytics and claims management difficult. This requires your enterprise to adopt a strategy to rationalize, consolidate, and migrate data to get a single source of truth.

Optimize Claims — Predict, Detect, Investigate Fraud

Saama Fraud Analytics enable better ROI on your fraud detection, prevention, and detection processes. The solution automatically adapts as fraud behavior changes and improves customer satisfaction via fast tracking clean claims.

Customer 360
Analytics Suite
Insurance IoT (Usage Based Insurance)

Fluid Analytics℠ for Insurance

Craft Truly Unique Experiences from Contextualized Data

Saama’s Fluid Analytics for Insurance is an industry-specific orchestration environment that integrates and aggregates structured and unstructured data. Consisting of comprehensive insurance data models, categorized by subject area, the solution provides industry-standard KPIs
 at your fingertips. Saama’s Fluid Analytics for Insurance comes with claims and policy analytics modules already pre-built to suit your needs.

By combining data science and domain expertise, this offers a forward-looking, transformational vision of a digitally enabled insurance enterprise. For the first time, analysts, underwriters, and actuaries will have direct access to the data in native format in a self-service mode.

Driving Business Outcomes When it Matters the Most

  • Drive top and bottom line improvements by better understanding your existing book of business
  • Improve customer loyalty through prediction of churn leveraging data across multiple systems like policy, claims, billing
  • Improve product marketing, pricing, and features by analyzing performance across agent, market, customer
  • Improve risk mitigation by early detection of Sales problems and Loss trends to determine the best course of action

Using Speech Analytics to Understand Insurance Customer Behavior

Your customers are talking - but are you really listening?

Your customers are talking everywhere — responding to a survey, commenting to a contact center agent, etc. Many insurance companies have turned to speech analytics to provide better customer service, reduce costs, and grow their business through new products and services. Despite the excitement surrounding it, Speech Analytics isn’t always correctly understood or implemented.

Read this paper to understand what insurance companies should look for in a speech analytics solution and calculate the ROI on these initiatives.

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Learn How Saama Can Help Your Insurance Business