Insurers have been undergoing digital transformation for years, but COVID-19 has forced them to accelerate their digital agendas. The pandemic has reduced face time and increased customer demand for seamless digital experiences.
The limitations of legacy systems, complex operating environments, data siloes, and costs of digital transformation have hindered insurers’ progress in leveraging AI and ML analytics for insights and actions that drive customer satisfaction and growth.
TCS Customer Intelligence & Insights™ (CI&I) for insurance is a customer analytics software built for insurers with pre-built use cases for faster time to value.
CI&I provides access and analytics across siloed data, enterprise systems, and IoT devices so that insurers can deliver the personalized products and experiences customers seek. It leverages AI and ML to optimize underwriting, pricing, claims, and distribution.
CI&I discovers customer behavior, such as when a customer is searching for a protection plan or other touchpoints across devices and locations, based on their consent. With complete data privacy support, CI&I uses customer life stage and preferences to dynamically optimize propositions and conversions in real time.
Insurers can use CI&I in parallel with their digital transformation initiatives to unlock legacy data, and chart individualized protection and wellness journeys.