The Insurance industry is transforming, creating new opportunities and changing the way business is done. New processes, centralising data by integrating systems with knowledge at its core has enhanced the user customer experience. Utilising Business Intelligence by collecting insights and reviewing Key Performance Indicators are providing business value and continuous systems improvements. Regulatory and security requirements still apply strongly apply in this sector.
B2B Insurance provider
This company is one of the largest financial service providers in Europe specializing in B2B Insurance.
An Oracle Knowledge contact centre solution consolidating 4 divisions into one knowledge management system. A total of sixteen data sources were merged into one single-source-of-truth repository reducing Total Cost of Ownership and providing enhanced Business Intelligence.
The solution is utilised by Insurance brokers and a major multinational banking and financial services group. It has recently been upgraded to the latest version of Oracle Knowledge and extended to extra divisions and departments. A KM Governance Framework is in place to ensure KM best practices are followed.
Private Health Insurance Company
Following a period of mergers and acquisitions, this company is now one of Europe’s largest independent private health care insurance providers.
An Oracle Knowledge for Call Center solution was deployed to unify the different KM systems, which were inherited from these mergers.
One simple centrally managed KM repository with natural language semantic search was created to bring together four different systems. Oracle Knowledge’s iConnect was used to integrate to Siebel CRM. This enabled Call Center agents to search and link knowledge articles directly to incident tickets.
Oracle’s OBIEE and ODI were deployed with Oracle Knowledge to provide Business Intelligence insights and KPI comparison for each business unit.
The new system significantly increased first call resolution rates, decreased escalations, improved search accuracy and reduced handling times, while reducing the overall total cost of ownership.