I’m in Asia for two weeks. Last week I had the privilege of catching up with marketing and operations leaders at a major local insurer. We built both a next best offer (NBO) solution and a claims handling solution for them. Both teams are self-sufficient, with multiple business people making changes to the decisioning system. Both teams are also continuing to improve their results. The marketing team’s initial 15-25% offer accept rate continues to rise and they make regular changes as the product portfolio evolves. The claims team has now driven their straight-through processing (STP) rate up close to 50%.
Great news for both groups and wonderful to see self-sufficient clients!