Plugging the Premium Leak: Small Adjustments to Create Profit

Claims fraud has been a major focus for insurers seeking to maximize profits. This task requires significant investment in analytics and in review personnel. Another source, often overlooked, lives at the other end of the insurance lifecycle – premium leakage. Carriers may be able to realize similarly large benefits by reducing premium errors through a few simple adjustments designed to...

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Do Your Customers Know You’re a Know-It-All?

Picture yourself in the office on a Wednesday; it’s sunny, 78 degrees outside, and you are talking with your customer, Kaitlyn, whom you haven’t spoken to in roughly six months. Kaitlyn called to request adding her son, Peter, and his new Honda Accord to her auto insurance policy. You are able to retrieve her profile in your policy admin system (PAS) to find just enough information to answer...

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Role of Identity Management – Removing the Friction

With what seems like a daily stream of news related to data breaches these days, why is identity and access management (IAM) still: Not moved to the top of every CIO/CTO roadmap Only talked about as just the management of an identity and not also the governance of that identity Not a standard swim lane with every project that requires any type of authentication to any service (on-premises or...

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‘Gapplications’ – Processes and the People (Part 3 of 3)

Stopgap solutions, what characteristic do they have in common? In part two of this series, I discussed the many faces of Excel and the idea that there is no one single solution that can address all of the functions, however manual, it can do. Functionally, stopgaps are all over the map, from workflow fixes to financial modeling fixes to reporting fixes, they lurk in all corners of...

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Decrease Customer Effort to Improve Member Acquisition in the Dental Insurance Industry

Ever felt that you were putting too much effort into figuring out how to complete a task on a company’s public website? Well – you are not alone! West Monroe Partners recently conducted Customer Effort Index (CEI) scoring for the dental insurance industry. This CEI scoring benchmark allows companies to see how much effort is required to complete certain tasks through various touchpoints...

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‘Gapplications’ – Architecting for Agility in the Spaces Between (Part 1 of 3)

I was speaking recently with the CIO of a large insurance company about his greatest business challenges (as we consultants love to do). One of the key challenges he described was ‘filling the gaps’. In other words, his team was struggling to provide functionality in the spaces where their major systems didn’t reach, but doing so in a way that didn’t compromise security...

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Using Knowledge Management in Your Contact Center

Contact centers traditionally hold a reputation for being an organization’s “catch all,” receiving customer contacts that range from inquiries to requests to complaints.  Contact centers receive not only all types of customer contacts but must also support all departments within an organization, from product, to marketing, to logistics to billing. The wide variety of contacts and the...

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Next Generation: Voice of the Customer

Firms have an unprecedented ability to listen to and understand changing customer needs. Advanced technologies turn unstructured social media posts or contact center transcripts into meaningful and actionable insights. Predictive analytics hone the noise of billions of interactions into signals that can help firms avoid scaling costly mistakes and tap into emerging opportunities.…

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Predicting the Future: What an Engineer from the 1900s Can Teach Us About Customer Experience Today

In the early 1900s, a gentleman by the name of John Elfreth Watkins Jr. penned an article for Ladies’ Home Journal, titled “What May Happen in the Next Hundred Years”.  As a civil engineer working for American railroads at the dawn of a new century, it was fitting that Watkins would take an interest in the technological advances that might shape America’s productivity landscape.…

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Cutting Through the Fog of B2B Marketing Enablement: Fragmentation + Fragmentation = Fragmentation

The digital disruption caused by the ubiquity of 24×7 Internet can often be a challenge for relationship managers focused on one-to-one, face-to-face interactions. The question is often, how can marketing automation techniques and technology enable B2B marketing when prospect groups are relatively few in number? The fact is that armed with mobile devices and go-anywhere connectivity, all...

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