Have you encountered a bad situation that was made worse by something that is meant to help? Here’s a recent example of mine – I had to take my son to an emergency room while vacationing in Asia but the most frustrating part was dealing with insurance when we got home. The agent who initially processed my claim put me (and my money) in limbo – no external or internal follow-up communication, inaccessible and invisible in the client portal – because they didn’t follow the process for handling non-English documents. This poor customer service was entirely preventable and, though I’m not an insurance industry expert, I’m going to tell you how.
I started this article with my personal experience because all service providers need to consider customer impact when designing their AI adoption. Unfortunately for me, health insurance is a relatively inelastic service. The insurance company – let’s start to see ourselves in their position now – has many customers locked in for the year irrespective of individual satisfaction. It also means that customer acquisition is relatively fixed. Insurance companies are not alone in having profit margins that are won and lost in processes. They’re also not alone in having a customer base that includes stubborn engineers who will spend above-average time investigating problems to discover a root cause (hi, that’s me). Even though I can’t switch medical insurance, the original agent’s mistakes followed by my persistence led to an undesirably high touch time for the insurance company (getting personal again, I digress…)
Whether your organization manages insurance claims, manufactures automotive components, or facilitates the food and beverage supply chain, profitability is influenced by how well your people, processes and systems are harmonized. Fortunately, some of the up-and-coming solutions embedded with AI have started to measurably improve the balance with people, processes and, ultimately, profit. One of the solutions with a high yield potential from relatively low effort is called Process Mining. Gartner defines it as “a technique designed to discover, monitor and improve real processes (i.e., not assumed processes) by extracting readily available knowledge from the event logs of information systems”. What gives process mining the potential for high yield with low effort is that it leverages information that your business processes already generate but traditionally ignore outside of IT troubleshooting. Process mining users are provided with unprecedented visibility of process flows and deviations. Analysis of those deviations turns into data-driven continuous improvement with the possibility of incorporating process improvements that were already proven through execution even though they weren’t pre-planned.
To Know More, Read Full Article @ https://ai-techpark.com/ais-role-in-process-mining/
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