Today, the insurance industry is galloping towards digital transformation after decades of crawling and being caught up in a complex web of legacy systems. But it has also meant that the need to meet the rapidly growing demands of customers and business users is higher than ever before. Insurance providers have placed cognitive managed services at the frontlines of intelligently driving insurance experiences to keep pace. This cognitive approach to service ticket management harnesses new technologies like AI, big data and analytics to significantly enhance any interaction with the user – whether it’s a customer looking for rapid service resolution or an internal business user expecting IT assistance for quick troubleshooting.

Without cognitive abilities, the modern IT workforce would struggle to provide the most basic yet the most important outcome – to resolve user-related issues within the least amount of time. It is a sizable problem in the insurance world, considering that many processes require the user to access several touchpoints in order to retrieve information or complete a task. Cognitive managed services navigate the users towards logical actions and outcomes without bogging them down with information inconsistencies or redundant processes.

How cognitive managed services lead to smarter insurance experiences

Modern customers and business users have zero tolerance for complex processes that decrease their application experiences. Hence, they require immediate access to a fully equipped support function that offers user-centric solutions to their problems. When cognitive managed services power their application ecosystem, companies can increase their employee retention while delivering superior customer experiences along the insurance value chain.

CIOs must have to showcase more value to lines of business with new cognitive technologies. This may include new revenue streams, operational efficiencies, and outcome-based business models. All of which can be achieved by Cognitive service management to drive value and cost savings for the business.

With the new cloud, mobile, IoT, and web technologies entering the insurance technology ecosystem, customer experience, the role of cognitive intelligence in managed services is gradually on the rise. As insurance companies continue to host different applications in multi-cloud or hybrid environments, cognitive managed services help drive consistent user experiences across the devices – no matter the channel. Even if there is high ticket volume, it would be easy to manage application support from one place with the ability to scale based on business demand.

Some of the key benefits of cognitive managed services are:

Comprehensive IT visibility

With cognitive managed services, the insurance provider gets full visibility of the digital or hybrid IT workforce performance. They can also access a clear view of all the insurance-related systems and applications – wherever hosted – to continuously improve the journey of customers and business users.

Smart support with chatbots and VAs

NLP-powered solutions such as smart chatbots or virtual agents can leverage AI-led capabilities to automate rule-based tasks with high accuracy. They can significantly increase the speed of service resolution on a 24X7 basis – resulting in high user satisfaction.

Actionable user insights

Data is power in the world of insurance, which is why cognitive managed services help create a single repository of information of customers or business users. They extract valuable insights from the data and further personalize future user interactions.

Tighter compliance and security

Cognitive AI-driven service management makes it easy to incorporate any policy changes in the existing managed services protocol. It helps insurance providers protect the data of customers and automate the trigger of security protocols to prevent unauthorized attacks.

Aspire’s AI-driven AIMS solution

Aspire’s Application Management Service (AMS) offers a comprehensive range of AI-driven cognitive application services for maintaining, improving, and supporting insurance applications. Our Network Operations and Control (iNOC) solution handles remote infrastructure monitoring and management from start to finish. Aspire’s NOC’s mission is to provide continuous uptime while maintaining excellent network performance and availability. Through our iNOC framework, our clients receive a unified, customized IT infrastructure monitoring and management solution that increases the level of user adoption and satisfaction.

How Aspire enhanced the IT support capabilities of a leading insurance service provider

About the client

The client is a US-based leading provider of insurance IT services to statutory authorities and people with injuries under multiple compensation schemes.

Challenge

The need of the hour for the client was a highly focused and trained team. Initially, their in-house team was able to manage the tech support operations. However, as their company complexity and team size grew, their technical support and ticketing operations experienced issues like frequent SLA breaches, high resolution time, low server uptime, and poor SLA monitoring. In addition, there was very little scope for automation in their technology ecosystem.

Aspire’s Solution

Aspire developed a solution based on the ‘follow the sun model,’ which included three key services: Cloud Operations, Testing, and Business Operations Strategy. Some of the solution highlights were:

• Continuous application and service monitoring
• Enhanced escalation management to reach and improve root cause analysis
• Smooth handover process with dedicated resources
• Regular batch monitoring and end-to-end testing
• Deployment of specific fixes/releases to customer environments
• Customer support with high-quality L2 and L3 support

Business benefits

• Zero SLA breaches
• 80% of customer support problems were addressed at the L2 level due to excellent application and functional expertise.
• 63% increase in incident resolution time
• 50% increase in manual process automation
• 20% improvement in total case resolution

Conclusion

Today, it would be extremely challenging to maximize IT resources and increase user satisfaction within and outside the company without cognitive capabilities. Hence, cognitive managed services play an integral part in the insurance value chain because of their ability to anticipate, assess, and cater to modern user expectations. Moreover, they leverage actionable insights to improve the interactions between applications, support resources, and customers. Simply put – the more cognitive the support, the easier it is to increase user satisfaction.