Artificial Intelligence and Machine Learning Implementation Solution

Artificial Intelligence and Machine Learning 1
ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING IMPLEMENTATION
SOLUTION
Student
Course
Tutor
Institutional Affiliations
State
Date

Artificial Intelligence and Machine Learning 2
Introduction
Today’s customers are digitally savvy with multitudinous insurance options at hand.
Gone are the days when the local insurance agent sell insurance policies on basis of personal
relationship. In the current highly competitive landscape, insurance agencies has to cope with the
continuously changing consumer needs. The traditional strategies for fraud detections, claim
management as well as customer experience have become obsolete (Kirlidog and Asuk, 2012,
pp.989-994). The current customers, however, needs access, speed and flexibility and the
traditional strategies does not meet these needs (Honka, 2014, pp.847-884). As such,
organizations which are able to implement new technology to reduce costs as they improve
customer experience will be guaranteed a considerable market share and loyalty.
In the face of the disruptive technology in the insurance industry, Bingle agency, an
organization which operate in one of the most critical industries still lags in implementing the
current technology. In this rationale we seek present a solution to the technology proposed in the
previous article. Artificial Intelligence AI and Machine Learning is becoming the only way to
survive in this competitive environment. The sector is ready for change (Hall, 2017, 243;
Agrawal, Gans, and Goldfarb, 2018. pp. 04-21). Besides, the organization has a goldmine of
data ranging from the telematics, access to third party sources to historical data. The data can be
harnessed to drive a considerable outcome that will help in increasing the organization’s market
share and profitability. Artificial Intelligence driven by data science as well as machine learning
is the key to unlocking the available data and solving the problems which are currently faced by
the organization. However, before we venture into this critical aspect that promise a considerable
outcome to the organization, it is essential that we gain some insight into the insurance customer
journey.

Artificial Intelligence and Machine Learning 3
The Customer Journey
Analyzing the needs and expectations of customers and selecting the best mix of
marketing channel appropriately particularly in motor insurance providers is a critical aspect that
should be given attention in an enterprise solution like this (Nelson, Peterson, Rariden and Sen,
2010, pp.30-41; Markic, I., Stula and Maras, 2014, pp. 1118-1123). The customer journey will
be analyzed on basis of four broad stages including customer acquisition, premium payments,
claims processing as well as customer renewal and retention.
Customer acquisitions
This stage involves customer evaluation on premium quotes and coverage. This is an
important opportunity that shows how easy it will be to do business with the Bingle agency. The
phase is very critical in reducing leakages of prospect customers (Lemon, and Verhoef, 2016,
pp.69-96). The new system should therefore be user friendly and easy to navigate (Tax,
McCutcheon and Wilkinson, 2013, pp.454-470). This has to be considered to enhance the
consumer relationship. A proactive engagement channel is essential to encourage customers to
complete their transactions.
Premium payments
This a critical phase of journey that need its own attention. Today’s customers are
digitized. To begin with automated payments sign ups, this process can be made easy through
virtual assistance. This process will enable a timely revenue stream as it reduces delinquency and
collections.
Claims and processing

Artificial Intelligence and Machine Learning 4
Customers claims needs to be addressed as fast as possible. As the initial applications
always demand that a call into a contact center is made, the system automation will be designed
to enable an efficient and effective call routing. NLU may be considered to allow consumers to
bypass the frustrating menus, direct dialogs and key pad presses with conversational languages
(Tur, Jeong, Wang, Hakkani-Tür and Heck, 2012, pp.07). This therefore calls for virtual
assistance.
Customer renewal and retention
With the completion in this industry, there is no guarantee that a customer may return for
more services, customer renewal and retention is the most critical phase and should be accorded
the attention it deserves if Bingle is to retain its customers.
The information and technology architecture
In a description of the information architecture, for Bingle to meet the demands regarding
customer acquisition, the organization’s new online platform will be made such that it can be
easily understood and navigate by its customers. We will use artificial intelligence enabled
virtual assistance to help in handling questions, to provide quotes and even steer consumers
towards the resources. In many occasions, customers will want to call in order to verify quotes
they have been given online, we will enable this by utilizing the proactive engagement such as
automated text or emails, and even automated voice to help in confirmation, this can also help in
deflecting calls. On the off chance that the call is received, we will use a natural language
understanding NLU to assist in containing the calls thus boosting satisfaction (Khayrallah, Trott,
and Feldman, 2015, pp.94).