AI-Powered Customer 360 in P&C Insurance: Merging CRM, Guidewire, and Behavioral Analytics
DOI:
https://doi.org/10.63282/3117-5481/AIJCST-V7I1P103Keywords:
AI, Customer 360, P&C Insurance, Crm, Guidewire, Behavioral Analytics, Predictive Modeling, Customer RetentionAbstract
The property and casualty (P&C) insurance is faced with the challenge of failing to handle the growing customer needs, regulatory and competitive businesses. The demand to possess a consistent customer perspective that presents CRM, Guideware policy systems and behavioural analysis have never been greater. The proposed Customer 360 AI-based solution targeted at P&C insurers is suggested in the current paper. The paper cites the design, operational style, how AI was used in merging the different databases in such a way that it could provide meaningful actionable intelligence. It is also in the paper that additional discussion is made regarding principles of behavioral analytics integration which can be useful in enhancing customer experience, risk assessment and management of claims. The paper shows the effectiveness of the implementation of the AI-based Customer 360 model in cross-selling/up-selling strategies, customer retention, and effective business process, basing on the case studies and simulation of the real world. Conclusions demonstrate that the customer satisfaction degree, the policy conversion rates, and predictive ability of claim behavior also significantly increase when insurers approach the demanding strategy of integration. Such aspects as technical conditions, data security issues, and efficient implementation plans are also indicated in the study
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