Blog | Insurance

Insurance Digital Transformation: Improving the Customer Experience

In this insurance digital transformation case study, our design thinking practice drives impactful results to the client's bottom line and customer experience.

JANUARY 29, 2018

As data analytics transform the global business community at a rapid pace, many opportunities exist for insurers to leverage information to grow their bottom line. All insurance companies are sitting on a wealth of information about their customers and operational processes. The biggest challenge insurers face with this data? There’s too much data to sort through, and it’s difficult and time consuming to translate information into actionable insights.

Making your data work harder – and more valuable -- is what the Sutherland Cloud Analytics platform is all about. It has positively impacted many companies on a global scale, combining the power of data analytics with artificial intelligence (AI) to drive insights to fuel decisions that boost your bottom line and customer experience.

Harnessing Big Data Drives Insights, Streamlines Processes

Guardian Group, an integrated financial services organization with a focus on life, health, property and casualty insurance, pensions and asset management, recently partnered with Sutherland to rapidly monetize its data assets to meet their business needs.

Prior to engaging Sutherland, the leading insurer was challenged with disparate, unsynchronized databases and inconsistent data across their organization, and basic financial and operational reporting did not deliver valuable information for executive decision making. The time was right for Guardian Group to make agile adjustments to address changing customer expectations, market needs, and regulatory mandates.

Sutherland’s Cloud Analytics Platform and associated consulting established an ongoing big data capability to facilitate a culture of leveraging insights for business decisions. Thanks to Sutherland’s cloud-based solutions, Guardian Group saw an approximately 25 percent reduction in manual efforts and associated labor cost for some activities, 20 percent reduction in claims-related processing turnaround time, and 100 percent digitization of forms now available online.

An End-to-End Analytics Transformation

Core components of the data analytics solution for Guardian Group include:

  • Suspense Amount Management for cloud: AI-leveraged analytics that enables insurers to wade through complex data streams and meaningfully allocate premium suspense amounts to the right policies. It’s designed to optimize cash flows to improve loss ratios, combined ratios, and current ratio.

  • Operational Lapse Accounts Analytics to better understand agent performance and drive optimal account management processes.

  • Operational solutions to help drive efficiencies and automation in customer-facing and claims management processes.

  • Precise customer service and predictive modeling powered by analytics capable of turning customer and market behaviors into models.

  • Strategic customer, agent, and policy profitability analytics to assess emerging risks, identify new revenue sources and optimize enterprise-wide profitability.

Now is the time to leverage data analytics to your drive competitive advantage and positively transform processes throughout your insurance organization.

Ready to transform?

Reduce Risk. Gain Advantage. Improve Retention.

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