Your data can help you uncover many hidden opportunities to drive costs out of your operations while streamlining and improving your customers’ experience.
We’re huge fans of improving operations in a low-risk way that won’t jeopardize customer service and experience.
But that can be hard when you’re doing it the traditional way of relying on ‘gut-feel’.
Doing it with data brings fact-based decisions to your operational improvement efforts.
Each engagement is unique, but three common use cases are highlighted below:
Streamline or Speed-up Processes
Using operational data gives you the opportunity to identify areas of your operations that can be accomplished faster, more accurately and with less resources.
Streamlining operations using a data-driven approach is critical, however, since studies have show that less than 30% of projects actually hit their targets and less than 20% realize sustained benefits over a three year period.
We help reduce the risk of operational improvements by replacing ‘rules-of-thumb’ and assumption with data-based insight.
Reduce Inefficiencies in Processes
Modern brokers and MGA’s have so many complex processes that it guaranteed that some, or all, of them have inefficiencies and waste built into them.
The volume of transactions and the complexities of insurance make it difficult or impossible to pinpoint areas where waste can be eliminated.
An effective data-driven project can analyse complex and large datasets to identify specific opportunities to improve efficiencies and reduce costs.
In addition, they can predict the quantum of financial improvement so you derive a clear expected ROI for undertaking the improvement.
Identify Changes in Status Quo Before They Become Problematic
The speed of business means that if an element of your operation begins to degrade it often isn’t detected until it has become a full-blown problem. And by that time, such variation already has a large cost – in money and time.
We use your data to create a predictive anomaly detection system that can quickly alert you as soon as a key part of your operation varies outside of the predicted range.
This let’s you quickly identify potential problems as they are just forming – saving you time, cost, and effort by fixing them immediately.
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