What Our Clients' Success Looks Like
- Chubb Insurance Specialty used its AIModels to design the industry’s first “tri-track” renewal process: high touch, low-touch and no touch tracks. This tri-track renewal process: 1) increased customer retention to over 95%, 2) increased Underwriting productivity over 50%, and reduced the renewal process cost by more than 60%. These improvements achieved high sustainable growth and our client became the largest Specialty Insurer in the US within three years, and went on to dominate the industry, a position it still holds
- Citibank Private Bank conducted an AIM project that discovered they lost 18% of branch resource capacity to activities related to checking the status of transactions. They used their AIModels to design automated transaction status alerts that included the customers. This was in 1999 and it was the first banking transaction notice system. Since some people did not have email, they alerted customers without email by phone with an automated voice in the language of the country. This system set a very high standard that no other banks were able to match and for many years distinguished Citi from all other banks. When they reduced their resource capacity costs for transaction status activities by 18% they saw their branch profitability improve.
- An AIM project’s “what if” scenarios of Chubb"s American Commercial Insurance Division discovered that their branch-centric organization was over 40% more expensive than a service center organization would cost . The AIM scenarios also forecasted that a service center organization would iomprove expertise and a service center organization would provide better expertise and service to field underwriters and customers. They designed precise services center blueprints for each line (product group) throughout the country using their AIModels. After the initial organizational transformation costs were incurred, Chubb’s new centers reduced costs by over 40% and increased productivity by almost 50%. These centers achieved the highest level of insurance expertise and the highest productivity in the industry. They continue to dominate the industry and are now the world’s largest underwriter in many commercial lines.