4 Ways a BI Solution Can Help Your Insurance Company

Insurance Company BI Solution

4 Ways a BI Solution Can Help Your Insurance Company

Although it might seem like old-fashioned customer service and advanced technology are incompatible concepts, that’s far from the truth. Cutting-edge insurance business intelligence (BI) software is helping companies streamline and improve their customer service across the board. From renewals and cancellations to customer outreach, BI software is making customer interactions easier at every step for everyone involved.

4 Benefits of Insurance BI Solutions

A primary goal of most insurance companies is to maximize the quality of the service they provide, while minimizing their own expenses. BI solutions can get you closer to realizing this goal by helping you to streamline your company’s operations, allowing you to connect more directly with your customer base.

1. Speed Up Data Analysis

How can the insurance industry most effectively use business intelligence to reach customers? For one thing, BI software can accelerate big data analysis, greatly increasing the efficiency of running claims reports, loss runs and ratios, and even adjuster notes.

There’s no need to do manual claims adjustments in this era of BI solutions; it’s inefficient and unnecessary. By automating data analysis, you’ll significantly increase your staff’s capacity without having to make any new hires.

2. Integrate with Current Software

Another benefit of insurance BI solutions is that they can integrate with your current system, whatever it might be. Even if your data is stored in multiple locations, you can link it effectively using hosted management services. You’ll save time and have access to the most current software as it comes out, so your data transmissions will be faster and safer than ever before.

3. Improve Customer Satisfaction

No matter the size of your company, insurance business intelligence will improve your customer service; customers will have access to automated billing, renewals, and policy information. This means that your clients won’t have to reach out to your customer service department.

The advantages here are twofold, as this will increase your bandwidth by freeing up employee time, while increasing customer satisfaction. Insurance BI even allows you to update client information without the need for personal phone calls or emails.

4. Save Money on Upgrades and Equipment

Cloud computing, another name for offsite data storage and remote software access, is transforming the insurance industry. Finally, smaller companies have affordable access to the same quality of advanced software used by larger insurance firms. The enhanced security protocols that come along with this will take the strain off of your IT department, and can be a strong selling point for potential customer outreach.

Find Case Studies and Customer Testimonials

At CHSI Connections, we offer insurance BI solutions to business owners who are committed to driving growth. We believe that business management software and customer retention go hand-in-hand, and our history of client success proves this.

We think of our clients as strategic partners, involving them in the creation of custom solutions for their problems. If you want to learn more, feel free to read through our testimonials and case studies, or contact us online to set up an introductory consultation.