Success requires a culture that wants to radically change processes, even reengineering them for a machine-first approach. This means leading with technology over humans for tasks such as self-service or underwriting decision making. ■ Companies must have the architectural vision on how to string multiple vendors/solutions to support end-to-end process automation in a platform that is seamless and frictionless for users. ■ Autonomous business will be driven by business, not IT. That also means that business leaders will need a clear vision on how they want to modernize these processes and a tight collaboration between business and IT to combine deep business knowledge with technology know-how to reinvent processes. ■ Consider customer and policyholder user needs when determining best autonomous use cases, evaluating process complex, frequency, sentiment/emotional intensity and customer journey needs. ■ Solutions for autonomous processing are limited and emerging. Few vendors today offer comprehensive solutions but offer only partial solutions, not covering the entire technology requirements and often lacking industry depth into core processes and industry needs. Fulfilling autonomous processing will mean gluing many vendors together to cover the end-to-end process. ■
Mass: High
This will be a core requirement to stay competitive long term in the industry. As leaders roll out this capability, it moves the bar up for their competition. Companies adopting autonomous processing will find substantial business results that will differentiate them in the market, such as faster policy issuance, which will lead to improved CX and reduced claims processing costs and times. Today, solutions — such as FNOL — will take input from traditional channels and means from an online form or data entry from an agent. In the future, input can come from external data sources such as partners or IoT sensors to notify them of a change of behavior or an event that would require change in coverage or the start of a claim. Additionally, greater customer information will be applied to take into consideration customer preferences for action — whether automation is preferred — supporting strategies such as panoptic personalization. And even sentiment can be analyzed in real time to move people out of the automatic process when discussion is highly emotional or sentiment changes.
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Gartner, Inc. | G00786204
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