General Insurance Article - Attensity Introduces Analytics Solution for Insurance


 Attensity, the leading provider of social analytics and engagement applications for Social CRM, today announced a new Insurance Industry Solution that builds on the company's flagship text analytics application with out-of-the-box category sets, topics, reports and dashboards tailored specifically for the insurance industry. The new solution enables insurance carriers and related businesses to analyze customer conversations in social media and other unstructured sources to quickly spot fraudulent claims, identify customer pain points, and improve the claims experience.

 "Costs today for insurance providers are on the rise as companies increasingly struggle to analyze the massive volumes of unstructured claims data generated by the claims process and combat fraud," said Rebecca MacDonald, vice president of marketing at Attensity. "The Attensity Insurance Solution is based on our work with leading insurance providers and delivers the key analytics capabilities they need in an easy-to-use, quick-start package designed for insurance business users."

 The Attensity Insurance Solution helps insurance providers rapidly analyze the mountains of unstructured data generated in claim forms, adjuster notes and third party reports -- including police, medical and inspection reports -- as well as customer feedback from social media, surveys, emails and other sources. Using Attensity, insurance providers can measure positive and negative sentiment, and drill into the specific issues driving that sentiment. For example, a Fortune 100 insurance provider used Attensity to discover that the majority of negative sentiment expressed by its customers toward property claims was related to policy coverage, while complaints regarding auto claims related to appraisal accuracy.

 Available now, the Attensity Insurance Solution includes over 100 out-of-the-box reports, dashboards and prebuilt analytics that enable insurance providers to:

 Analyze and compare customer sentiment around brands, offerings, services and more
 Identify the top compliments and complaints driving sentiment, and drill down to the text of the conversations to understand context
 Analyze claims to identify complex fraudulent patterns that contain the presence of multiple Red Flag Indicators
 Detect early warning of potential customer service issues before they become problems
 Understand and mitigate the reasons customers switch providers
 Respond to customer requests for help with proactive service

 Insurance Solution Webinar

 Paired with the release of the Attensity Insurance Industry solution is a new industry report, "Utilizing Social Analytics in the Insurance Industry." It provides an analysis of current social media and other customer conversations about the industry, including a detailed look at the claims experience and fraudulent patterns. The report will serve as the basis for a March 21st webinar and will be made available for download to those who register for the webinar. For more information and to register, visit: http://www.attensity.com/2012/03/06/webinar-social-analytics-for-the-insurance-industry.

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