IBM Helps Security First Insurance Mine Big Data To Analyze, Prioritize And Route Social Media Requests After A DisasterMay 6, 2013 No Comments
ARMONK, N.Y May 7, 2013: IBM (NYSE: IBM) today announced that Security First Insurance, a leading homeowners insurance firm based in Florida, is using smarter content software from IBM and partner Integritie to collect and analyze big data including social media and email to quickly begin the claims resolution process for customers who have been impacted by a storm.
Headquartered in Ormond Beach, Florida, Security First Insurance serves nearly 180,000 customers. Florida has more people and property exposed to hurricanes than any state in the country, averaging 12 government-named storms and nine named hurricanes each year.
Using the combined IBM and Integritie solution, Security First Insurance can now turn social media into an actionable communications channel during a major disaster. The software analyzes incoming messages sent by email and social media using text mining, text analytics and natural language processing to detect words that convey distress or identify significant property damage. Security First Insurance can then prioritize the messages and route them to proper personnel to promptly resolve the issue.
During a typical month, Security First Insurance processes 700 claims for damaged property and possessions, which is less than one percent of its customer base. However, in the aftermath of a hurricane, that number can swell to tens of thousands within days. In the past, customers submitted claims primarily by phone and sometimes email. Today, policyholders use any means available to connect with an agent or claims representative, including posting a question or comment on the company’s Facebook page or Twitter feed.
“When customers experience a loss, our goal is to begin the recovery process as quickly as possible,” said Werner Kruck, chief operating officer at Security First Insurance. “IBM’s big data analytics software allows us to automatically prioritize and route incoming messages saving us a tremendous amount of time and effort. Time to value for our clients is our priority and IBM is making that possible.”
The text analysis in the software helps Security First Insurance filter incoming communications that might contain profanity, for instance, and audit outbound messages. The IBM and Integritie solution logs all social networking interaction, captures content, monitors incoming and outgoing messages and archives all communication for compliance review.
Security First Insurance can also easily link specific content to expedite the loss recovery process for policyholders. For example, the software automatically captures incoming social media and email content and attachments and stores it in a central repository to maintain, control and integrate into the appropriate business process for the customer.
“Getting insight from big data is helping Security First Insurance build a bridge between social media posts and the claim process. The system in place is also a great example of IBM and Integritie working together to solve a business problem that can directly affect people’s lives,” said IBM Enterprise Content Management Leader Doug Hunt. “If we can help partners expand the focus of their practice by using products and software from IBM, the end result will be more personalized and connected social business solutions for customers like Security First Insurance.”
To further advance the ability to access, mine and discover key insights into big data including social media assets, IBM is now offering IBM Content Foundation (ICF), a new content management solution for customers and partners. ICF provides a cross-industry enterprise content management (ECM) solution for document management, custom application development and ECM consolidation.
ICF makes it easier to discover, improve, secure and preserve social content. As a result, partners can develop social ECM solutions at a low cost, giving customers the ability to access content from anywhere and capitalize on the business’s collective stream of knowledge. The solution is designed with a light footprint for current and new markets where partners and customers need rapid solutions at low cost, but expect enterprise class capabilities such as scalability, security and stability to deliver better control of all enterprise content.
IBM is also holding a Business Partner Leadership Forum this week in Dana Point, Calif. with more than 80 top tier ECM partners. The two-day event will showcase the new ICF solution, cover IBM’s product roadmap, and provide an opportunity for direct feedback with senior IBM executives in attendance.
For more information on Security First Insurance, visit www.securityfirstflorida.com
For more information on IBM’s big data platform, visit ibm.com/bigdata
For more information on IBM Enterprise Content Management, see www.ibm.com/software/ecmDATA and ANALYTICS , SOCIAL BUSINESS