To enable Insurers to provide a value added personalized product to their customers. In the era of Iot it is now very essential to differentiate customers on basis of real time data instead of legacy data and bear an proactive attitude in customer service
What it does
An Intelligent Digital process automation solution combining real time (data and actionable insights) to offer personalized motor insurance products
How we built it
Integrated Appian and IoT devices on Appian cloud. Worked to figure scenarios where Appian dynamic case management, decisions and rules, AI could be used to weave a story of a connected car. Leveraged the Connected System and Integrated with a Sandbox environment to process payments. Twilio has been used for Automated calls to alert the drivers whenever there is an over speeding along with SMS which is another effective way to alert the driver
Integration between IoT devices and Appian platform, receiving real time data feed. The Appian components used for this purpose are Web API component of Appian's OOTB feature. We also integrated a payment system by creating an Integration & a connected system to process payments. The third aspect is dynamic case management . The fourth aspect is Appian records object has been created to contemplate a 360 degree view of the customer, which comprises of real time driving data feeds rec’d from IoT, legacy data. Fifth aspect is Appian notification service to send alerts at appropriate stages to the relevant stakeholders.
What's next for Smart Insure
To leverage AWS, Google AI and implement the AI component leveraging more factors such a geography, apart from the driving behavior characterisitics. The solution is presently targeted for motor insurance customers. However the framework is modular and the solution can be extended to other LOB’s like Health insurance and Home (Connected home) insurance.