Claims Prevention

How can we act in case of a natural disaster?

The main objective of the prevention measures is to reduce the negative impact when a natural disaster occurs, in terms of human losses and possible damages that economic activities may suffer. That is why depending on the natural catastrophe we are talking about, we can carry out certain ones to protect ourselves:

1.Slides or landslides:

  • Do not overload the floors with constructions.
  • Avoid deforestation of land.
  • Prevent the water in the pipes from leaking.
  • Inform Civil Protection about any irregular situation.

2.Volcanic eruptions:

  • Avoid building houses near volcanoes.
  • Do not visit active volcanoes that are emitting ash or gases.
  • In case of contact with toxic gases from volcanoes, cover our nose with a cloth moistened in vinegar.
  • In case the competent authorities recommend the evacuation of the community, follow their instructions and protect ourselves as soon as possible.

3. Tsunamis

  • If you are in coastal areas, pay close attention to possible tsunami warnings.
  • Have an evacuation route in sight that leads to some elevated location.
  • Stay totally away.
  • Stay tuned for any announcement from the authorities.

4. Earthquakes or schism: the Earth’s surface is divided into blocks called tectonic plates, which are in continuous motion. When two plates collide, a large amount of energy accumulates and when this is released, the earthquake occurs.

Some measures to take care of ourselves in case it happens are:

If you are at home:

  • Always stay calm.
  • Have a first aid kit, it will be very useful.
  • Have at hand the emergency numbers of the Civil Defense, fire, police, hospitals, among others.
  • If possible, turn off the electricity, water and gas.
  • Get under a sturdy table, a door frame, and cover your head with a cushion or something sturdy.
  • Stay away from windows, shelves, lamps, and mirrors. Don’t use the elevators.

If you are on the street:

  • Stay away from poles, trees, and power lines.
  • If you are in a movie theater or restaurant, avoid running towards the doors.
  • If you are in the moving car, stop quickly and stay inside the vehicle that the shaking passes.
  • Avoid stopping near or under buildings, bridges, or trees.

5. Forest fires:

It is the fire that spreads in an excessive way in forest or wild lands, affecting flora, fauna and even human lives.

Some measures to take care of ourselves in case it happens are:

  • Get as far away from the affected area as possible.
  • Contact emergency agencies and report the situation.
  • Stay away from the fire and cover your mouth with a damp cloth.
  • Watch the wind, a change can make the fire surround you, so always try to go in the opposite direction.
  • Do not run from the fire up the slope, better go through the burned areas and try to be near rivers or roads.

Throughout history, we have seen various natural disasters, which have not only caused millions in losses, but have also destroyed homes, families and the environment of many people.

Let us be aware and take care of the environment, since it is the home where we will stay all our lives. Most natural disasters are the consequence of poor human decisions.

Claims Prevention

Learn a little more about natural disasters

In a world as changing as ours, it is logical to think about the importance of having an insurance company that is our ally and protects us and our assets in the event of an unfortunate event.

The collision of a car, a fire at home and even some illness that we are going to treat ourselves, are some of the most common accidents, but how much would you know how to do in case of a flood due to rains, an earthquake and even a tsunami?

What are natural disasters?

It refers to the great material losses and human lives produced as a consequence of natural phenomena such as floods, earthquakes, tsunamis, among others, which are often the product of human activities.

Its consequences

  • Deadly effects caused by the fall of buildings or trees, freezing, dragging by avalanches, heat strokes among many others.
  • In the case of tsunamis, fields covered by salt water take many years to be cultivated again.
  • Damage to public transport, means of transport and homes as a result of hurricanes, floods, avalanches, volcanic eruptions, earthquakes, etc.
  • Cuts of basic services.
  • Damnifications.

What are their types?

Meteorological: they refer to those disasters that are related to the climate, which can be predicted thanks to the use of modern technologies by seeing the behavior of the climate and the possibility of affecting a certain place and time.

Hydrological: are those that originate in water, that is, oceans, seas and rivers. These occur as a consequence of the action of the waters: floods, tsunamis, waves, tornadoes, tropical storms, hurricanes, hail, snowfall, among others.

Geophysical: they are natural disasters that arise from the earth’s surface and its entrails: landslides, avalanches, volcanic eruptions, earthquakes, fires, etc.

Biological: they are caused by some particular circumstance within the animal kingdom that in some way affect the environment and humanity. In this category we can exemplify: epidemics, plagues, avian flu, swine flu, among others.

The main triggers of natural disasters are the over-exploitation of resources as they cause problems such as pollution and climate change, promoting negative situations for the planet.

Did you know that one of the largest millionaire losses caused by a tsunami and earthquake occurred in Japan in 2011? Turning around US $ 195-305 billion.

Natural disasters have been around forever and as they come, they take many lives, structures and places with them. It is important to know how we can protect ourselves and how to act in the event that we are going through a catastrophic event to protect as much as possible.

Be aware and take care of the environment, remember that many natural disasters are the consequence of the bad actions of human beings.

Artificial Intelligence Technology

Do traditional industries employ machine learning?

Yes, and they use it to gather new business knowledge. We explain it to you in this simple example:

A machine learning startup called Second Spectrum created predictive models so that coaches could distinguish players with good shots and others who take bad shots and thus evaluate and correct the consequences in the middle of basketball games in the US.

Another example can be General Electric, a company that has a history of more than 130 years. This industry has made thousands of dollars processing data it collects from deepwater oil wells or jet engines to optimize performance, anticipate breakdowns, and streamline maintenance processes.

What’s Outside North America?

In Europe there are different banks that have changed the old statistical modeling approaches for machine learning techniques and in many cases, they were able to improve their numbers: they increased sales of new products by up to 10%, achieved savings of 20% in capital expenditures and even the 20% increase in cash collections.

How did they go about achieving all this? Through the design of new recommendation engines for retail and Pymes customers.

Are we close to machines replacing humans?

It is indisputable that changes as a result of the emergence of technology are coming and the data that is generated throughout the process is done with such speed that human participation has been moving aside.

However, in the coming years, we will see more of the use of Artificial Intelligence, as well as the development of autonomous corporations. Without a doubt, large companies will be able to carry out objectives autonomously and without direct human supervision.

If you want to revolutionize your insurance company with cutting-edge technology, this is your opportunity to work hand in hand with LISA.

Artificial Intelligence

These are the benefits of Machine Learning for insurers

As the analog world becomes increasingly digitalized, our ability to learn from data by developing and testing algorithms will become increasingly important to traditional businesses as we can meet the deepest needs of our customers and nurture the business with new products and services that adapt to each person.

What is Machine Learning?

These are algorithms that can and have the ability to learn from data without relying on specific rule-based programming.

Machine learning became a scientific discipline in the late 1990s, when constant advances in digitization and computing allowed data scientists to delve into how to train computers for certain functions.

The unmanageable volume and complexity of big data that the world is immersed in today has increased the potential of machine learning and the need for it to be more present than ever.

What is its impact on the insurance industry?

Due to the massive use of the internet, it is indisputable that within the insurance industry, agents want to better understand the needs of their clients and future policyholders. On the other hand, and in a similar wave, are the policyholders, who want better products and processes for their claims.

Both parties can benefit from getting more intelligence from the data.

The insurance industry clearly must take a page turn and overcome many years of accumulation of printed documents, which are known as “dirty data”, since it cannot be digitized so easily.

What if AI and Machine Learning could transform that valuable data into more accessible and user-friendly information? Clearly employees, customers and agents could get more out of the data.

To support and facilitate the digitization process in parallel, data can be scanned into a system, data patterns can be identified using machine learning, and the value of the data can be extracted through a highly automated process.

Predictive modeling will always be a good option for insurers as it can outline a retail business line that is insuring and track the sentiment of each customer. This way, agents will be able to study and determine who is happy with the service or, on the contrary, who can buy insurance elsewhere.

There is no doubt that these technologies can make the job of those who work in the insurance industry easier, more predictable and more precise, which translates into more profits and savings for clients.

At LISA, we take care of providing cutting-edge technology to traditional insurance companies, in order to make them more competitive, agile and disruptive.

And what are you waiting for to revolutionize the insurance industry?

LISA Gateway Technology

The importance of the Interoperbility

In a world where we are connected at all times, it is extremely necessary for companies to change the way they operate and grow through technology and its multiple benefits that also fall on customer satisfaction.

That is why one of the words with great connotation and relevance within this entire revolution is interoperability, but what is it about?

Interoperability is the ability of information systems and the procedures they support, to be able to share data and allow the exchange of information and knowledge among themselves.

In simpler words, it is about the communication capacity that exists between different systems and different data, so that information can be shared, accessible from various environments and understood by any of these.

Based on this definition, we can mention that this promising integration capacity may be an important point to consider within the insurance industry, which has begun to leave its traditionality thanks to technology.

What could they achieve with this?

  • Guarantee a communication without barriers between all the actors associated with a traditional insurance company: insurance banking, startups, brokers, brokers and the end customer.
  • Increased customer satisfaction.
  • Improvement in the quality of the service.

All of this is possible thanks to the use of technological enablers, tools that allow digital transformation to be possible within any industry.

We invite you to read our article Know Everything About the importance of the Technological Enablers (Read Here). so you can complement this topic.

Visit our website and learn how we promote interoperability within the insurance industry with LISA Gateway.

LISA Gateway Technology

Know everything about the impact of technology enablers

Technology advances at unimaginable steps, it doesn;t stop and is constantly evolving, offering advantages and improvements for any company that we can imagine.

The insurance industry, despite being one of the oldest, has already begun to realize that digital tools offer endless benefits for themselves and their policyholders, through a wide range of possibilities thanks to the technological enabler.

What is a technology enabler?

It is a tool that allows digital transformation to be possible within industries. To this are added enabling technologies, which are full of knowledge and have also been identified as inducing innovations in different economic sectors, which could lead to high disruptions in the next 15 years.

Technology enablers are characterized by having a high degree of R&D (in science, engineering or technology), faster innovation cycles, and physical innovations. They also have the ability to offer solutions that respond to the challenges imposed by users and the demands of today.

Know the main advantages of technology enablers

Interoperability: allows two or more systems to exchange information and connect with each other.

Automation: they replace mechanical jobs, which can harm the health of the operator or which simply take time to dedicate to more creative and functional jobs for Technology: Industry 4.0 (industrial automation and robotics, Artificial and computational Intelligence).

Cost reduction: By being able to optimize human resources and enjoy multi-task solutions and management.

Great operational capacity: thanks to the interoperability between various industrial value chains and its ability to improve connectivity between systems and their workers, achieving a good technology-worker combination.

At LISA we have a clear outlook, to provide the insurance industry with cutting-edge technology to improve its processes efficiently. In addition, we are committed to digitized processes and procedures that allow interoperability with various actors, representing a source of value for customers and valuable information for the insurance companies.

Get to know our technological enabler, LISA Gateway, and allow your company the technological integration between all the actors involved in an insurer: insurance banking, startups, brokers, brokers and the end customer.

What are you waiting for? Get LISA!

Clients Satisfaction

How can we respond to the expectations of our customers?

The way to exploit customer data through the Customer service must be aligned with the expectations that the customer has of the service, which correspond to two main characteristics:

1. Personalized attention: not only referring to your profile, but also to your specific circumstance.

2.Immediate attention: where we can solve any matter in a simple way, in just one contact.

It is important that these two characteristics are present both in self-service procedures and in those carried out through an agent.

  • Everything is about personalization

Initially, all the products were made in an artisanal and exclusive way, then with the era of industrialization, mass production began and also began the segmentation of that production according to the profiles of the users. This personalization is clearly not feasible without technological support, since thanks to Artificial Intelligence, specifically, we can exploit the data of each insured, personalizing their interactions through various channels, in a massive way and even modeling it in real time based on the progress of said interaction.

The particularities of the insurance sector make it possible that this customization should not only be done depending on the product or service according to each client, but also based on empathy.

Empathy was only achieved thanks to the interaction with agents, but currently it has been developing in robotic interactions. In this sense, the evolution of chatbots is based on the understanding of the interlocutors and expressing themselves based on the person who is communicating.

  • Immediate resolution and without so many complications

We all know that policyholders and any client that is talked about, looks for easy and fast solutions. They want to solve problems and managements in a single contact and it frustrates them that the process is cumbersome and requires a large amount of data that is sometimes even repeated.

As an example we can say that if your car has just broken down in the middle of a highway, and you are blocking the flow of vehicles, the least you want is to give your identity card number more than three times and wait for a menu of options for phone call keep you online for more than 5 minutes.

Thanks to the knowledge of the client, giving a more efficient, simple and personalized service will be much easier. Likewise, the contact channel, the ease of contacting the insurer (an easily locatable telephone, a user-friendly website, the waiting time or the amount of data requested) is also relevant.

What the insured wants, how they want it and when they want it

There are interactions in which the insured does not require human contact and the best way to offer a personalized and immediate service is self-service (what the client wants, how he wants it and when he wants it). With a good self-service, we can save the insured the need to carry out procedures by anticipating them and thus avoiding customer service.

Some advantages of self-service:

  1. For the insurance companies: it means savings in operations due to the reduction of people needed to carry out the procedures.

Likewise, insurance companies must consider in which cases they can facilitate self-service for their policyholders, for which procedures and under what conditions.

2. For policyholders: self-service not only makes management easier but also gives them access to information and control over said management, which allows us to speak of transparency and a positive impact on their satisfaction.

Clients Satisfaction

How to make more efficient customer service in insurance?

Insurance Companies must be able to identify and create relevant moments for each of their policyholders, taking into account their profile, the products contracted with their coverage, and manage them dynamically so that they feel supported at all times.

Once the insurers have already put the client at the center of their strategies, it will be essential to go one step further in the management and service of the client: generating a relationship with the client, based on dialogue and understanding of their experience.

To carry out any type of customer management action, it is essential to know the customer in depth and constantly, which will allow to actively develop a constant and fluid communication in really vital moments. Clearly, this knowledge will have different levels of maturity in each insurer, depending on the capabilities, objectives and needs of the same.

It is essential to constantly enrich and update the information available in a continuous cycle of collection, analysis and exploitation of knowledge, regardless of the level of maturity of the customer’s knowledge:

A) Data collection:

It is estimated that insurers currently possess 80% of idle information through conversations and emails, which is not being exploited.

The challenge for insurers should be to consolidate all the information in a single knowledge base. All information must be continuously enriched, as this will be the foundation on which we can build a personalized, simple and immediate Customer service that will add value to the insured.

B) Customer data analysis:

Once the data is collected, it must be transformed into useful information, predictive and descriptive knowledge. They must also be analyzed to obtain in real time, the intelligence necessary for proper customer management.

The boost of artificial intelligence

The use of technologies such as Machine learning and even Deep learning are capable of enabling insurers to go further: algorithms will be able to locate meaningful information in unstructured data sources, acquiring answers to questions that had not even been exposed, allowing a personalized proactivity without equal.

Artificial intelligence will put a big twist on the work of experts. Segmentation, referring to Customer service, has become outdated since it does not reach personalization at the individual level, which is a determining factor in the future, which currently can only be achieved thanks to AI.

C) Exploitation of customer data:

Once the data has been collected and analyzed, the challenge for insurers will consist of taking specific actions that will be carried out in each of the clients.

Taking action in an agile way, guided to the client’s needs and in line with the objectives and strategy of the company depends, almost entirely on the governance model, which must break with the traditional hierarchical structure and promote communication fluidity between strategic teams, allowing them to have more information and to carry out new projects and actions more directly.

Knowing the client and anticipating their needs, unquestionably marks a differential value within the insurance industry, which has begun to adopt technologies that help it thanks to the collection, analysis and exploitation of data, which lead to a better way to operate.

Applying technologies such as Artificial Intelligence in the traditional insurance industry is necessary and advantageous, since with this useful data can be extracted and used to offer better products and services.

At LISA we strive to provide traditional insurers with cutting-edge technology, streamlining their processes and guaranteeing better experiences for their policyholders.