Attensity, a provider of social analytics and engagement applications for social CRM, today announced a new insurance industry solution that builds on the company's flagship 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 and related businesses to analyze customer conversations in social media and other unstructured sources to quickly spot fraudulent claims, identify customer pain points, and improve the claims experience.
The Attensity Insurance Solution helps insurance providers rapidly analyze the mountains of unstructured data generated in claim forms, adjuster notes, and third-party reports, including police, medical, and inspection reports, as well as customer feedback from social media, surveys, email, and other sources. Using Attensity, insurance providers can measure positive and negative sentiment and drill into the specific issues driving that sentiment. For 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.
Available now, the Attensity Insurance Solution includes more than 100 out-of-the-box reports, dashboards, and prebuilt analytics that enable insurance providers to do the following:
- Analyze and compare customer sentiment around brands, offerings, services, and more;
- Identify the top compliments and complaints driving sentiment and drill down to the text of the conversations to understand context;
- Analyze claims to identify complex fraudulent patterns that contain the presence of multiple Red Flag Indicators;
- Detect early warning of potential customer service issues before they become problems;
- Understand and mitigate the reasons customers switch providers; and
- Respond to customer requests for help with proactive service.
"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, vice president of marketing at Attensity, in a statement. "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."