Cost inflation rising unabated in many parts of the world has been particularly painful for the vulnerable in our society. It is vitally important that insurers are able to identify these vulnerable customers so that they can put measures in place to improve their experience. AI has the potential to improve customer communications in insurance and highlight the needs of vulnerable customers early on.BLOG
A recent survey revealed that 77% of respondents believe AI will revolutionise the pensions industry. One of the most likely ways it will do so is by making them easier to track, manage and adjust. With 55% of adults saying that have had no engagement with their pension over the past year, we explore how AI can benefit providers and customers.
The claims process is the shop window through which policyholders see their insurers. However, the gap between what customers think is covered by a policy and what it actually covers can often result in poor service during the claims process. In this article, we outline why insurers must do more close this 'expectation gap' how this can drive customer loyalty.
In the final article in our behavioural science crash course we detail the principle behind wise interventions. These are the pillars which support nudges for the public good. Read on to learn how to effectively design your nudges for success and the practical considerations to keep in mind to avoid failure.
In 2023, maintaining, let alone growing, the customer-base means that closing the gap between acquisition and actual onboarding is more important as an organisational core competency than ever before. That ‘leaky bucket’ needs fixing.
In 2023, the primary job for Technology in FS is enabling the firm to meet the requirements of the new Consumer Duty. Is your FS firm ready?
We are at the stage where AI is human-like enough to assist with elements of customer service and problem solving. For businesses that are investing in their AI capabilities, they need to make sure that everything they are doing is increasing the trust their customers have for them.
This paper explores the collections industry's changing landscape and presents a proven solution for first party collections teams to recover outstanding consumer debt more efficiently whilst delivering better outcomes for consumers.
AI Sustainability refers to the overall development, application and implementation of artificial intelligence to achieve globally established sustainable development goals (SDGs). It's a hot topic in AI and understanding and research can help you make prudent decisions in both running models and ensuring the models you use are run in a responsible way, both ecologically and socially. This article covers AI initiatives, development, innovation and how sustainability is an inherent consideration for each.