As the insurance industry tilts toward consumer-centricity, maintaining efficient claims processes and monitoring customer feedback via social media are two analytics tasks at the core of this movement. Attensity is attempting to help insurers tackle them at once.
The provider of social analytics and engagement applications for Social CRM is broadening its vertical reach with a new insurance industry solution designed to assist insurers with the analysis of data gathered from myriad sources: claim forms, adjuster notes and third-party reports -- including police, medical and inspection reports -- as well as customer feedback from social media, surveys, emails and other sources.
The software builds on the company's text analytics application with out-of-the-box category sets, topics, reports and dashboards tailored specifically for the insurance industry. The new solution enables insurance carriers to spot fraudulent patterns, identify customer pain points early, respond to customer service requests proactively as well as analyze the data of customers that switch providers.
"Costs today for insurance providers are on the rise as companies increasingly struggle to analyze the massive volumes of unstructured claims data generated by the claims process and combat fraud," said Rebecca MacDonald, VP of marketing at Attensity. "The Attensity Insurance Solution is based on our work with leading insurance providers and delivers the key analytics capabilities they need in an easy-to-use, quick-start package designed for insurance business users."
According to Attensity, insurance providers can measure positive and negative sentiment, and drill into the specific issues driving that sentiment. The company provides the following example: “A Fortune 100 insurance provider used Attensity to discover that the majority of negative sentiment expressed by its customers toward property claims was related to policy coverage, while complaints regarding auto claims related to appraisal accuracy.”
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