6 min read

Microsoft Power Platform for Insurance use case: booking app

, , ,

The insurance sector in the UK is built on rich traditions and face to face operations. Just a few months ago, 7000-plus industry specialists walked in and out of Lloyd’s of London market place each day to exchange risk propositions, discuss policies and close deals on the 300-year old trading floor.

The coronavirus lockdown closed the doors to the Lloyd’s underwriting floor and forced these deals into living rooms and home offices, driven by the latest cloud technology. For a sector notoriously resistant to replacing valuable in-person operations with digital processes, insurers pushed their own limits and embraced new ways to transact, meet and close deals. In fact, our clients across the Financial Services sphere responded to the crisis with real creativity and imagination to keep the cogs turning, with long-term positive impact on their businesses

One such example is how Microsoft’s Power Platform technology allowed Redspire client Beazley to work with us to being a solution – Beazley Booking – to market, in days and weeks instead of the months and years strategic projects can often take.

Let’s take a look at the Power Platform for insurance use case for the booking app.

Power Platform for Insurance booking app: solution overview

The solution is built on three key processes and scenarios:

  1. Power Apps for Underwriter Availability Management.

Underwriters assign their availability in the Power Apps Model Driven App which is then visible to the brokers to review.

  1. Broker Portal for Booking a Timeslot

Brokers log on as external users to the Broker Power Apps Portal, see which underwriters they want to meet, see time slots available and can create an agenda, attach documents like insurance slips and submit the booking.

  1. Power Apps for Booking MI

Underwriters and brokers time is automatically booked out in their Outlook diary for the meetings, which can be set up on Microsoft Teams and WebEx. Booking MI is available to view in the Power App.

Process 1: Power Apps for Underwriter Availability Management.

Built on a Power Apps model driven app for internal users, including Underwriters and Underwriting Assistants.

Contact Record with custom fields

  1. Created contact records for underwriters within the internal Model Driven App.
  2. Custom fields created to enable the booking process, including insurance type drop down, contact details, time zones, WebEx or Teams meeting ID
  3. On tab 2, Underwriters and Assistants can manage their time, and set timeslots, length of meeting and availability throughout the working week, and set exceptions for unavailability for things like other meeting types, personal appointments, focus time and annual leave.
  4. Power Automate takes all of this information and creates a range of timeslots for Brokers to view and choose, displaying date, time, length of appointment and time zone; important working across multiple geographies.
  5. Built on the Common Data Service, information and data is now available within the portal and available to Broker and other external users.

Underwriters can set their availability

Process 2: Broker Portal for Booking a Timeslot

Within the outward facing Broker Portal, built on a Canvas App, external users can view their forthcoming bookings with Underwriters, book new appointments and add documents to upcoming bookings.

External user portal view

When an external user logs into the Portal, they’re taken directly to a view of all of the bookings they currently have with their chosen underwriters at a glance.

  1. Key meeting information is displayed via Subject, time slot, booked by, underwriter, insurance type and link to video-conferencing fields.
  2. Each appointment is also sat in each user’s calendar, sent by Power Automate.
  3. Within this view, external users can also book a new timeslot via the book timeslot button in a simple three step process.
  4. Step 1 – select insurance type to filter available underwriters from that business area. Select underwriter from the drop down menu, before adding subject.
  5. Step 2 – the system surfaces the available time slots for the user to choose from. When a time slot is selected, users can add agendas and upload documents like insurance slips to allow the underwriter to gain context to the meeting and prepare accordingly
  6. Step 3 – here you can review all information submitted and make any amendments before submitting the booking request.
  7. Upon booking the timeslot, there are two actions that take place. The timeslot is created in the Underwriter’s Model Driven app and Power Automate will send a calendar invite to both parties with the high level information, videoconferencing link, agenda and any attachments.
  8. My time slot Portal front page will now show the new appointment in the view.
  9. Back in the Underwriter’s Model Driven app, the management information will show the new booking and the meeting sits in their Outlook calendar, with no need to respond to the sender.

Booking an Underwriter appointment

Process 3: Booking MI

Booking MI is the Underwriter’s go-to view to prepare for the week ahead and mange their workloads and opportunities.

  1. Go into management info tab within the Underwriter’s Model Driven App.
  2. Three charts to provide high level info to underwriter on their week ahead by broker, by attempted timeslot bookings and active timeslots, thus allowing them to plan for the week ahead.
  3. These insights allow Underwriters to understand which brokers are booking and how often, to gain visibility on the brokers attempting to book and to measure where their time is being spent for maximum efficiencies.
  4. MI is fully extensible to additional integrations to fit wider business needs or to evolve with future iterations or augmentations.

Management Information within the Model App

Power Platform: no limits extensibility

Beazley’s CTO Mark Moerdyk says: “Beazley Booking uses the Microsoft Power Platform to improve the quality of interactions with brokers and ensure that our underwriters have access to data that can help improve service in the future. This is not only a system that improves our service during this period of social distancing but also has the capability to provide long-term support as the market adapts to a more efficient and flexible model.”

Less code, more power: 86% of Fortune 500 companies use Power Apps

With 86% of Fortune 500 companies using Power Apps, there’s never been a better time to modernise your data and harness the power of the Power Platform and Microsoft Dynamics 365. No-code, low code capability is here now and can augment your legacy systems to fit the new normal in days and weeks. Want to hear more?

About Redspire and the Microsoft

Redspire are a CRM Consultancy and Microsoft Gold Partner, specialising in Dynamics 365 and The Power Platform. We partner with the UK’s leading Financial Services organisations to lead them through powerful digital transformation, improve operations and process automation with Microsoft’s suite of business applications. Interested in the awesome power of Power Platform? Find out more about Power Apps and Beazley booking on the Connecting Brokers and Underwriters webinar with Megan Meneely, Billy Lyle and Beazley’s Mark Moerdyk.

Want to talk all things Power Platform or Dynamics 365? Get in touch with us touch on 0845 226 8170 or email us at info@redspire.co.uk.

3 min read

What is Microsoft Power Apps?

, , ,

Power Apps is a high-productivity development platform for business apps, and has four major components:

  • Canvas apps
  • Model-driven apps
  • Portals
  • Common Data Service

Microsoft Power Apps is a suite of apps, services, connectors and data platform that provides a rapid application development environment to build custom apps for your business needs. Using Power Apps, you can quickly build custom business apps that connect to your business data stored either in the underlying data platform (Common Data Serviceor in various online and on-premises data sources (SharePoint, Excel, Office 365, Dynamics 365, SQL Server, and so on).

Apps built using Power Apps provide rich business logic and workflow capabilities to transform your manual business processes to digital, automated processes. Further, apps built using Power Apps have a responsive design, and can run seamlessly in browser or on mobile devices (phone or tablet). Power Apps democratizes the custom business app building experience by enabling users to build feature-rich, custom business apps without writing code.

What is a Model Driven App?

Model-driven app design is a component-focused approach to app development. Model-driven app design doesn’t require code and the apps you make can be simple or very complex. Unlike canvas app development where the designer has complete control over app layout, with model-driven apps much of the layout is determined for you and largely designated by the components you add to the app.

Model-driven app design provides the following benefits:

  • Rich component-focused no-code design environments
  • Create complex responsive apps with a similar UI across a variety of devices from desktop to mobile
  • Rich design capability
  • Your app can be distributed as a solution

What is a Canvas App?

Canvas apps start with your user experience, crafting a highly tailored interface with the power of a blank canvas and connecting it to your choice of more than 200 data sources. You can build canvas apps for web, mobile, and tablet applications.

Canvas apps give you the flexibility to arrange the user experience and interface the way you want it. Allow your creativity and business sense to guide how you want your apps to look and feel.

You can start to build your app from Microsoft tools where your data lives, such as:

Creating a canvas app is easy; with Power Apps, you can find or create your app in several ways:

What is Power Apps Portals?

 Portals help you create external-facing websites that allow users outside your organization to sign in with a wide variety of identities, create and view data in Common Data Service, or even browse content anonymously.

What is the Common Data Service

 The Common Data Service is the data platform that comes with Power Apps and allows you to store and model business data. It’s the platform on which Dynamics 365 apps (such as Dynamics 365 Sales, Customer Service, Field Service, Marketing, and Project Service Automation) are built. If you’re a Dynamics 365 customer, your data is already in Common Data Service.

Common Data Service allows you to securely store and manage data within a set of standard and custom entities, and you can add fields to those entities when you need them.

Power Apps and Redspire

Interested in exploring new ways that processes can be engineered and how modern tools like Power Apps can be applied within your business? Get in touch today or watch the on demand Power Apps in Insurance webinar. Respire and Microsoft have partnered to provide a number of hands-on workshops to FSI organisations. For fresh ideas and access to some of the UK’s top solutions architects, get in touch with Redspire today on 0845 226 8170 or email us via info@redspire.co.uk.

8 min read

20 Power Apps features and enhancements in April’s 2020 Wave 1 Update

, , ,

April has been a big month for Microsoft Dynamics and the Power Platform, with new apps and over 400 new features and enhancements released. Solutions Architect, Richard McAtamney shares his insights on the new capabilities.

As a Power Platform aficionado with nearly 17 years within the Financial Services sector, I’m really interested in the new Power Apps and Power Apps Portals capabilities.

Major announcements in the form of Mixed Reality in Power Apps, which tentatively present a number of new use cases and innovations in the bank branch network and the general availability of AI Builder have a huge positive impact on team productivity, improved user experiences and slickened customer journeys.

Additionally, Microsoft have worked hard to make improvements that:

  • make the build slicker for in-house and development teams
  • which integrate meaningfully with other technologies
  • translate to innovative customer experiences and improved operational workflows for in-house teams.

Here are updates and key features from the Power Apps and Power Apps Portals release:

  1. It’s now possible to create Apps directly from Microsoft Teams, using existing SharePoint Data.

This allows you to:

  • Drives deep integrations with productivity apps and advanced capabilities in azure
  • Makes it easy to create Apps in teams with existing business data
  • Create applications within your channels
  • Automatically generate first few screens from data already within the Teams SharePoint site.

With Teams now the virtual workplace of choice for over 75 million global users, teams of varying skill levels can now create applications that use the context of the space they’re embedded in, bring applications to Teams mobile and give users a context that enhances productivity.

  1. Additionally, later this month, personal Power Apps apps will be available on the Teams mobile client. This functionality allows users to:
  • Pin applications to the bottom their Teams navigation bar and open directly within the Teams setting.
  • Provide quick access to mobile apps.
  • Drive quick collaboration in crisis or rapid response situations, for example for frontline workers during the global health pandemic

This functionality can also have multiple uses within business and customer facing settings,

  1. Enhanced capabilities and experience in Model Driven Apps Offline mode

The need for enhanced offline functionality has never been more apparent than in the last few months. Systems have been overloaded with the business community shifting to remote working and frontline workers needing to communicate in the field or on the go.

Microsoft are continuously working on improving features in off-line mode. Enhancements to Model Driven Apps Offline include:

  • Model driven apps are faster & more reliable in offline mode
  • Entities such as currency will be available in offline mode
  • Better communication & more actionable error messages
  • Barcode Scanner control also now available in offline mode
  1. Power Apps mobile has all your apps on a single application

The preview of Power Apps mobile application allows user to launch canvas and model driven apps together from a single point, removing the user pain of two separate apps and creating a unified experience. Key highlights include:

  • Canvas and Model-driven apps now run on a single mobile application
  • All Model-Driven and Canvas Apps available in a single mobile App
  • Makers can deliver a targeted experience to users on a single application
  • Pixel perfect, task-based Canvas App or declarative metadata driven model-driven app.
  • Canvas & Model-driven apps will appear together in a single list of apps in the PowerApps Mobile App
  1. Canvas App Monitor Tool now generally available

This feature is now generally available, allowing users to diagnose and troubleshoot issues with applications quicker. Key highlights include the capability to:

  • Diagnose & troubleshoot applications quicker
  • Import and Export Log files
  • Share Diagnostic sessions, Inspect, Interpret and filter results
  • Visualise event timelines
  • Identify Problem areas and fix in App
  1. Modern Solution explorer gets a make over

For users who want to to spend less time searching and transitioning between designers and more time on making apps, this update will help create a more intuitive user journey. Key call outs are:

  • Secondary navigation added
  • Recent items 1 click away
  • Remember settings from previous session
  1. PowerApps Test Studio for Canvas Apps is now generally available

For users who have canvas apps within solutions or projects, how are they usually tested? Power Apps Test Studio for canvas apps builds on the preview release and is now generally available with support for all controls and integration into the build and release pipeline. The features:

  • Fully supports all Power Apps custom controls and components
  • Allow new capabilities to run tests automatically
  • Establish Quality Gates and efficient test automation

Some key improvements in Portals include:

  1. Web API’s for CRUD Operations on CDS entities
  • Adds Web API’s allowing users to create, read, update and delete operations across all CDS entities (Based on User & Community Feedback)
  1. Portal Checker enhancements (First added in Oct 18’ Wave)
  • Additional Scenarios added to help resolve common portal issues
  1. Power BI Embedded component in Portal Designer.
  • First party integration with PowerBI, using liquid tags
  • Simplify Integration
  • First class component in Portal designer experience, similar to forms and list
  • Remove complexity of liquid tags
  • Add PowerBI report or dashboard in Portal as a component using Portal designer property panel, without having to worry about liquid code.

Sophisticated Apps on a Unified Platform

  1. Build responsive, reflowing Canvas App pages

App developers and makers can now build pages that are carefully tailored to needs of end users and responsive on various screen sizes.

  • Build pages fully responsive to changes in screen size and orientation
  • Automatic re-flow as the available real estate on the screen changes.
  • Supports all existing canvas concepts and custom components
  • Can be built in Power Apps Studio or Power Apps Component framework
  • Build fully custom and responsive experiences into Apps

This functionality was requested by the PowerApps Community and is a huge step towards unifying App types

  1. Enabling Printable pages in Canvas Apps

A huge plus for field service type scenarios, this feature allows

  • makers to configure a printable page within the canvas app and create a PDF.
  • End users to print, email or file docs in a whole range of use cases, for example loss adjusters and claims inspectors in insurance.
  • Using existing concepts to create, capture and print a page.

This functionality was a top request by the PowerApps Community.

  1. Enable creating and editing data in forms displayed as modal dialogue without navigating away

Users no longer need to navigate away from a form to create or edit a related record.

  • Create or edit a related record within a form
  • Open a main form in a dialogue directly from another main form
  • Will also be available in the navigateTo Api
  • Can be used in the command bar, event or plug-in to open a main record in dialogue experience

This new functionality hugely increases productivity, reduces clicks and removes unnecessary navigation across forms.

  1. Improvements to model-driven apps

These improvements are designed to enable end user productivity and reduce time to get started on a session. Highlights include:

  • Remember last used app, reducing need to choose from an App list
  • Last App will be used if an App isn’t specified within a URL
  • Reduces click and increases productivity
  • Visuals for existing App message bar to align with Form message bar experience.
  • Model Driven Apps now have API’s to show App level messages, which remain visible while navigating
  • API allows for flexibility in message Type – Eg: User Dismissible or not dismissible for permanent messages
  • API support removing specific messages if they don’t apply
  1. Save is always visible in the command bar on edit forms
  • Save and Save and Close options in command bar are now visible when editing a record.
  • Previously both were hidden if autosave was on. Save was only visible in the footer
  1. View selector usability enhancements
  • Drop down is wider and longer
  • Personal views are separated from system views, shown higher on the list
  • Header and Label Highlighting styles applies
  • Pinning made easier and icon alignment
  1. Improved Data Source experience and Common Data Service view are generally available
  • Speed of access to Common Data Service now greater than 50%
  • The feature & speed now make this the preferred way of connecting to the CDS over the Dynamics 365 Integrator
  • New Data Sources pane
  • Entity View Selection
  • Change CDS Environment
  • Improved Data defaulting

Microsoft continue to focus investment and attention on the Common Data Service as a robust platform for apps of any scale.

  1. Auto generate web apps on top of your existing data
  • Makers can now create Canvas Apps in landscape rather than just phone layout
    • Easier to make Canva Apps for web and tablet Scenarios
    • Use existing SharePoint, Excel, SQL and CDS Data without having to build it from scratch.
  • App from Data Templates will now be responsive
    • Generate App Once for both Phone & Tablet
  1. Large File & Image Support in Model-Driven Apps
  • File & Image entity attribute can be added to any part of the form
  • Files can be uploaded up to 128Mb
  • Images can be uploaded up to 30Mb
  • Attachments in forms ssed to be limited to 5MB – Limiting ability to add large files eg: PDF, Images & Videos

Now users can easily work with large images and files from CDS in any Power App.

  1. Improved themes in Power Apps

Introducing improved themes for both canvas and model-driven apps that reflect modern Microsoft Fluent themes. Canvas apps also have new control sizing introduced to allow makers to build apps with controls sized for web-based and mobile scenarios.

New themes made available for model-driven app as a preview.

Our technical teams love talking all things Dynamics 365 and the Power Platform. If you’d like to discuss any element of the Wave 1 2020 enhancements in more detail, please get in touch on 0845 226 8170 or email us at info@redspire.co.uk.

Keep an eye on our blog and LinkedIn page for our follow up article on the Power Platform.

7 min read

2020 Release Wave 1 launches with new apps and over 400 features

, , , , ,

If you’re not a hardcore techy, you’ll be forgiven for the 2020 wave 1 Dynamics 365 and Power Platform release flying under your radar. This year’s release lands during an unprecedented time for global society, whilst businesses navigate new remote working practices and strive to achieve uninterrupted business continuity.

We, along with our partners at Microsoft are providing support and resources for businesses on the frontlines of the global health pandemic and are making seamless business continuity a key priority for our customers using Dynamics 365 and the Power Platform.

The new wave 1 enhancements however are really worth exploring in some detail. The new features and capabilities further unify B2B and B2C customer journeys and user experiences across sales, service and marketing. The automations and virtual enhancements are as slick as they are time-saving, allowing c-suite teams to rethink how departments and teams are set up for operational efficiency.

Considerations for Wave 1 adoption during COVID-19

Microsoft have delayed the mandatory uptake of Dynamics for Customer Engagement and includes other allowances for uptake of the new release, including the ability to defer certain features once before uptake.

Wave 1 release for 2020 however, includes brand new apps and over 400 new features and capabilities across both platforms, many of which by design, can help organisations adapt to immediate challenges posed by the pandemic and ensure you’re well placed thereafter to adapt to operational changes.

Watch Microsoft’s BizApps Virtual Launch

If you have 90 minutes free, it would be a good time investment to deep dive into the detailed demos and use cases on the Business Applications Virtual Launch on demand. If you’re time shy, you can view a summary of the new features on the Dynamics 365 and Power Platform 2020 release wave 1 plans.

The Redspire technical team have immersed themselves in the new enhancements, test driven and summarised their highlights. Have a read and please do reach out on info@redspire.co.uk or connect with the team on their LinkedIn to chat further.

Dynamics 365 for Marketing

If you aren’t using Dynamics 365 Marketing, Analyst Ross McGhee recommends that this is the time to get on-board. The solution has really come of age and can help both B2B and B2C businesses manage customer outreach and engagement through rich personalisation and deep automation. See Ross’s highlights below.

  1. Meet compliance and brand standards by test-sending dynamic marketing emails

Wave 1 enhancements enable users to test-send marketing emails containing dynamic content, highly beneficial to new users as they familiarise themselves with the syntax from which to implement dynamic content.

Now, users can test-send their marketing emails using a sample contact record or seed to ensure dynamic content displays correctly in the marketing email preview. This makes quality checking, compliance and maintaining brand standards fool-proof, in advance of sending to their target audience.

  1. Reach your audience where they are with automated scheduler

Artificial Intelligence (AI) has been called to action to help analyse trends based on previous interaction with marketing emails.

Dynamics 365 for Marketing can now automatically send marketing emails to recipients during times at which each contact is most likely to be actively reading their emails, instead of on a timed mass release schedule. This increases engagement and interaction with content, helping produce more volume and higher quality leads.

Like other areas where machine learning is being used, the AI will only get smarter over time with each added interaction, creating more meaningful customer interactions and better understanding of their unique needs.

  1. Increase visibility and credibility with spam checker

The new spam checker feature makes smart recommendations to the avoid marketing emails being flagged as spam, and can confidently assess your content as Low, Medium or High risk.

Utilising this functionality will assure marketers that emails will land directly in customer inboxes and along with automated scheduler consequently produce a higher number of leads.

  1. Close the feedback loop with Microsoft Forms Pro

Forms Pro now integrates with Dynamics 365 for Marketing, allowing marketers to create branded surveys within the platform, automate interactions at various stages of the customer journey and return rich insights. With Voice of the Customer being retired in summer, Forms Pro’s enhanced integrations help marketers create valuable feedback that drives future decision making for campaign delivery, improve audience targeting and build valuable user experiences, whilst aligning neatly with other KPIs served within the platform.

  1. Export rich data to Excel, analyse and act with marketing insights

Marketers asked and Microsoft responded. Rich marketing insights can be exported direct to Excel from Dynamics 365 for Marketing at the click of a button, without having to depend on Power BI. Marketers can monitor campaign success, analyse and report on trends and behaviours and make informed decisions on future activity.

  1. Deliver visually impactful campaigns with the improved email content designer

Content is still King in Marketing. Microsoft have revamped the Design Editor to help users of varying skills level create quality designs faster and more efficiently. Enhanced drag and drop, drag to resize, an improved colour picker as well as more customisation options and email-wide property controls to help marketers create brand consistent output.

  1. Improved Customer Journey Experience

This is our marketing teams hands-down favourite enhancement. Within the customer journey, marketers now have the capability to set static expiration dates for marketing email tiles. This means that time sensitive promotions or activity isn’t being promoted outwith the campaign in-market dates and a big win for compliance in highly regulated industries.

  1. In-Place Editing of Email and Forms

Another favourite, allowing marketers to create and edit core marketing records from one place.

The enhancements make it possible to create customer journeys, marketing emails, marketing pages, marketing forms and more, directly from your Customer Journey record. Greatly reducing the amount of clicks back and forth between various entities throughout the application and improving time to campaign go live.

From a technical point of view, this is a great tool to showcase to clients looking to invest in Dynamics for Marketing. This functionality really highlights:

  • the capabilities of the solution for users of all skill levels and
  • the ease of user adoption with the bulk of the marketer’s usage carried out primarily in one single location.

Dynamics for Customer Service

We’ve been talking lots about Dynamics for Customer Service in the past few months. The solution’s automations and integrations with the Power Platform have proven invaluable for managing the spike in customer interactions in frontline services during the global health crisis. Industries like Banking, Travel, Health Service and Education have been able to meet increased demand thanks to the ease of implementing new Virtual Agent managed journeys, connected to knowledge bases and existing content at pace.

The enhancements launched this month focus on three key areas:

  • Agent productivity: Delivering improvements that help agents be more productive such as improved knowledge article search, email authoring, and timeline enhancements.
  • Omnichannel for Customer Service: Expanding the range of supported channels and agent productivity tooling.
  • Connected Customer Service: Linking IoT diagnostics, IoT device updates, and case management to help organizations evolve a proactive and predictive service model.

Top pick new features, directly from the Analyst team

Analyst Colette Rogers shares an overview of her favourite new tools.

  1. The Copy and paste feature in Power Automate is now generally available. This has been incredibly handy in Power Automate, allowing capability to copy actions and paste into the flow as a further action or another branch of your condition. This feature has been available in preview and has been extremely useful when using create or update a record action, with numerous entries of Dynamics content. It saves time when recreating the same step and reduces error in selecting the content for input. It can also be used across flows in the same environment.
  2. Another key feature is instant flow steps in business process flows, now generally available too. In Dynamics 365 and PowerApps, a business process flow provides the user with steps to follow to in each stage of the process. Instant flows can now be used as a step within a business process flow to automate tasks, create approval requests or connect to one of the supported power automate connectors.
  3. Finally, the solution support for User Interface (UI) flows. UI flows allow step-by-step actions such as mouse clicks, keyboard use, and data entry to be turned into intelligent workflows. These automations can now be imported and exported as part of a solution to be used across different environments. This supports the application lifecycle of the UI flows.

This summary is barely touching the surface of the new capabilities. Our technical teams love talking all things Dynamics 365 and the Power Platform. If you’d like to discuss any element of the Wave 1 2020 enhancements in more detail, please get in touch on 0845 226 8170 or email us at info@redspire.co.uk.

Keep an eye on our blog and LinkedIn page for our follow up article on the Power Platform.

3 min read

Covid-19 customer contact crisis support with Dynamics and Power Platform

, , ,

Overcome immediate overload in call centre operations, fast with Dynamics 365 Customer Service, Power Virtual Agents and Omni-channel Engagement Hub.

Frontline service providers in banking, insurance, health, travel and retail are experiencing huge spikes on call centre operations during the Covid-19 global health crisis. Microsoft bizapps and rapid partner deployments are helping contact centres overcome urgent demand and relieving pressure on distressed call centres. Implement a rapid, tactical solution to the Covid-19 call centre crisis in days and be positioned to overcome evolving challenges ahead.

Overcoming call centre distress with Dynamics and the Power Platform

During the Covid-19 health crisis, clients who provide essential services in industries like banking, insurance, health, travel and retail are experiencing huge spikes on call centre operations. The global pandemic is straining service centres everywhere, with a massive uptick in call volumes, further complicated by many agents working remotely.

Deploy omnichannel capabilities

With omnichannel capabilities for Dynamics 365 Customer Service, Power Virtual Agent and Power Apps Portals, contact centre employees can provide consistent, personalised support while working remotely.

Self-service portals capabilities reduce pressure and urgency from agents and ensure cases are properly distributed across the omni-channel environment. Users are quickly able to deploy chatbots that are trained to respond to the highest volume of inquiring questions while providing consistent levels of personalised support.

The benefits of the tools and technologies

  1. Power Apps Service Portals

– build business apps and self-service portals, fast

– react to live needs to handle query flow

– connect to wider workflows and remote agents

– customers can log, update and self-manage their case

– free up front end agents and reduces call bottleneck

  1. Power Virtual Agent

– create intelligent agents with no code

– connect to existing bots, portals and knowledge bases

– virtual agent fields queries and establishes urgency

– resolves or diverts low and medium touch queries

– reduce impact on frontline agents – allows 24/7 self-service operations

  1. Dynamics 365 Customer Service

– manage, record and resolve customer cases

– connect each stage of the customer journey

– unifies operations & automates business process flows

– monitor and manage call centre volumes – a single source of truth for case communications

– ensures case continuity if agents out sick during crisis

  1. Omnichannel for Customer Service

– a hub for managing case related communications

– provides multiple non-call ways to manage interactions

– extends the reach of Dynamics for Customer Service

– can deploy live agent chat remotely

– reduces dependency on system telephony

– connect cases across the entire customer environment

About Redspire

Redspire have particularly strong capabilities in Banking and Financial Services, FMCG, Government, and Third Sector and have worked on the biggest operational challenges facing these industries today. From Small Business Banking improvements at CYBG, client and stakeholder engagement at Money and Pensions Service, our expertise in Dynamics 365 Power Platform helps our clients unify operations quickly, and deliver transformation projects that solve immediate business pain.

Next steps for Covid-19 contact centre and operational resilience crisis support

Secure data infrastructures and unified operations have never been more important as we navigate the unfolding global health crisis. This is the time for rapid implementation to overcome contact centre distress. Solutions can be deployed at pace over just a few days to immediately relieve the pressure, and ensure internal teams are supported too. For more information, download the crisis briefing, call Redspire today on 0845 226 8170 or email on info@redspire.co.uk.

5 min read

Banking on AI: Dynamics 365 Customer Insights and Virtual Agent for Customer Service

, , , , ,

A bank’s AI goals should look beyond cost reduction, welcome though that is. This technology has the capacity to do much more. Indeed, it can completely transform on institution from the core.” (Accenture, Redefine Banking with Artificial Intelligence)


In our recent Banking on AI article, we gave an overview of the rapid pace of AI evolution in the banking sector and looked at the limitless opportunity to automate functions and augment the banking workplace. Microsft’s Dynamics 365 AI solutions feature the most impactful and proprietary AI capabilities in global technology, and support banking organisations to deliver meaningful customer experience. Rich banking data across the business turns into proactive ideas and actions.

Customer Insights and Virtual Agent for Customer Service

In this follow up article, we’ll take a closer look at Dynamics 365 Customer Insights and Virtual Agent for Customer Service for banking. These AI technologies are helping front line sales and service banking agents make better use of their time, enabling managers to use team resources more efficiently than ever and improving satisfaction and experience, no matter which platform customers are engaging on.

In a recent Intelligent Economies survey by Microsoft, AI use is reportedly high amongst banking organisations worldwide. Nearly half (48%) of banking and financial services leaders reported that they’d already implemented virtual agent technology, with more than a third making use of both machine learning (36%) and predictive analytics (38%). Broad examples of these tools in action are:

  • Virtual Agent can be deployed proactively to resolve common service queries and frequently asked questions but can also be configured quickly to react and problem-solve when new, emerging issues arise.
  • Predictive analytics can be used to analyse account behavior and identify the potential risk of lending defaults.
  • Machine learning can monitor account behaviour and highlight any activity or transactional patterns that may suggest fraud or risk.

AI drives market differentiation and competitive advantage

Microsoft’s position on AI is that the technology works best when the people closest to a problem are empowered with the AI tools to solve it themselves. This is made easy with the low-code, no-code point and click technology which is at the heart of their AI development, putting problem-solving capabilities in business users’ hands. When individuals and teams create their own solutions, as and when they need them, it increases team competencies and heightens impact and ownership. Which of course, leads the way to strong differentiation and provides maximum competitive advantage.

Dynamics 365 Customer Insights and Virtual Agent for Customer Service

Which brings us back to Dynamics 365 Customer Insights and Virtual Agent for Customer Service. Together, these solutions provide banking customer service managers with a 360-degree overview of service operations and allow customers to access not only immediate but intelligent responses to each and every request. What’s more service levels are measurable and unified, whether getting in touch by telephone, text, online or via banking apps.

At Redspire, we recommend Customer Insights and Virtual Agent as some of the most impressive tools for delivering enhanced customer experiences to retail and commercial banking customers. The combination of service operations and machine learned insights means users can make use of all the data coming into the system to make smarter decisions on what to optimise and what to automate. A simple overview of the tools in action include:

  1. Data is constantly being fed into Dynamics 365 from omni-channel customer support queries, cases being raised and transactional requests.
  2. Customer Insights AI analyses these support cases them groups them into similar themes and topics to identify potential problems in real-time and inform non-technicaly teams that action is required. For example, a card provider’s hardware outage would lead to query spikes or increased online banking activity, as banking customers are unable to use their debit cards and call to report the issue. Or a branch emergency closure would lead to a rise in transactional calls and online activity.
  3. Before these calls become a drain on front line agents or support staff, business users of varying skill capability can quickly and easily configure automated conversations with a Virtual Agent bot via a web based application. The bot can engage, inform, easily take action and interact with existing systems to transact or problem solve to the customer’s satisfaction where possible, or escalate to a human for higher touch resolution where required.
  4. Throughout these conversations and transactions, Virtual Agent is constantly learning, mining user feedback and getting smarter over time. This continual improvement steers best practice with human teams and recommends future actions to update the bot in the interface to provide the greatest impact.
  5. Visual dashboards and business analytics on the service scenarios report and allow customer service managers to quickly evaluate and act to meet key performance indicators (KPIs) and maintain customer satisfaction levels.

As aI technology evolves and grows progressively more sophisticated, the complexity of the tasks that bots and virtual agents take on will continue to grow. Virtual agents will collaborate with team members, for example by prompting them to ask the right questions throughout customer calls or will pro-actively serve them with customer data or product information, without the human agent having to search manually.

Redspire: the leading digital transformation partner for Banking and Financial Services

IF you’d like more information on Customer Insights and Virtual Agent for Customer Service get in touch today. At Redspire, when we partner with you to implement Microsoft’s leading AI technologies, we become your dedicated Dynamics partner throughout your whole improvement journey.

We have particularly strong capabilities in Banking and Financial Services, FMCG, Government, and Third Sector and have worked on the biggest operational challenges facing these industries today. From Small Business Banking improvements at CYBG, client and stakeholder engagement at Money and Pensions Service, our expertise in Dynamics 365 and the AI-driven Power Platform, we help our clients achieve service excellence and deliver transformation projects that promises return on investment.

Contact us today

For more information on the Future of Banking download our Future of Banking white paper. To discuss what Microsoft and Artificial Intelligence can offer your organisation, get in touch with Redspire today on 0845 226 8170 or email us on info@redspire.co.uk.

9 min read

Power Platform for Insurance: Power BI, Power Apps and Power Automate

, , , , ,

There’s been a lot of excitement coming from Camp Microsoft and the Partner community regarding the potential of Power BI, Power Apps and Power Automate in the last year and we’re seeing some excellent use cases of the tools in action within the Financial Services sector.

At Redspire, we can’t recommend the Power Platform for Insurance firms highly enough. Microsoft, as always, is leading the way in the evolution in the insurance sector, bringing over 400 enhancements to Dynamics 365 and the Power Platform in the most recent release. The tech giant’s investment in Artificial Intelligence (AI) and low-code, no-code technologies directly support insurance businesses through the on-going digital skills gap and enable business users of varying capabilities to build apps, visualisations and workflows and improve business performance via simple point-and-click technology.

At Redspire, we’re working closely with our insurance clients to maximise use of the latest releases. Our clients in the insurance sector have undergone rapid digital transformation with Microsoft Dynamics 365 business applications in recent years. Progress has been made to shatter barriers between departments and insurers no longer approach each policy, person or departments as standalone but part of a connected universe of data that provides valuable insights to business performance. The Power Platform – with it’s integrated AI-infused technologies and the recent announcement of Wave 2 enhancements – opens up unlimited opportunity to harness the power of that data-unification. With hundreds of data connectors and a toolkit built on a common data language, insurers can achieve peak productivity, maximise engagement and provide data-driven decision making to manage their brokers, customers, products, policies and claims.

Yet across Banking, FSI and Insurance, many of the new clients we meet are unsure about the Power Platform and how it can be deployed granularly within their organisations. And more importantly, just why they should invest.

So, what is the Power Platform?

Power platform can be summed up in three keywords: analyse, act, automate. Known within Microsoft circles as the Triple A-Loop.

The toolset allows users to automate processes across the Microsoft stack and beyond. It ensures that everyone with permissions within your insurance organisation has the ability to build rapid business solutions, and solve all types of daily or organisational business pain.

The Power Platform combines the capabilities of three key products – Power BI, Power Apps (including Power Apps Portals) and Power Automate, which was formerly know as Flow. With Microsoft’s proprietary technology, users of all skill-levels, from pro-developers to authorised administrators can analyse, act-upon, and automate data in ways that have never been possible before.

The tools have been developed upon the Common Data Platform and are designed to work together for maximum business value. All users within the business with suitable permissions can quickly and easily build custom apps that solve immediate business pain, automate complex workflows to improve business productivity, and analyse data for insights – no matter their technical expertise or capabilities.

Act with Power Apps for Insurance

Power Apps allows everyone from developers to business users within your insurance business to create interactive apps that support with specific business scenarios from Claims processing and renewals to risk and compliance. Tying onto a specific  Dynamics 365 use case or standalone, your in-house teams will be able to react quickly to ever-changing customer, partner, product, claims and compliance needs, all without writing a single line of code. Or having to engage with a developer partner. Integrating neatly with Dynamics 365, the Common Data Service, other line of business systems and accessible by Power BI and Power Automate, users across the organisation can carry out tasks and complete processes quickly and efficiently on their device of choice, with the information flowing back into the CRM. Supported by hundreds of point-and-click Power Automate connectors, the data captured within the apps can be used to automate processes and drive insight like never before.

Power Apps puts the power to automate back in the hands of the insurance business and solve challenges in real time by creating focused journeys. To summarise the benefits of Power Apps you can:

  • Easily build apps within a full feature low-code/no-code point-and-click platform
  • Connect to all of your valuable data with a suite of pre-built connectors or custom connectors
  • Put your data to work with the Common Data Service for Apps
  • Integrate neatly with Office 365, Azure, Dynamics 365, Power BI and Power Automate
  • Make use of strong enterprise governance & security
  • Access Pro-develop extensibility

Sample use cases for Power Apps for Insurance include:

  • Improve and complete policyholder on-boarding in real time with bespoke Power Apps and Power Apps Portals, designed to capture the required data for each scenario. Connect this data to the next step action in the process and automate risk and compliance controls too.
  • Automate task-led business process flows like renewal processes or escalations for medical underwriting.
  • Manage the claims process more efficiently. Provide loss adjusters or even customer access to a front-facing app where they can answer the required questions, capture and attach jpeg or png photo evidence or PDF and Microsoft Word supplier quotes for repairs. Feed their responses directly back in the CRM and automate to next stage with one of 250 out of the box Power Automate connectors.

Recent enhancements for Power Apps in Insurance

Recent announcements from Microsoft include the wide release of AI builder for Power Platform. One of our top picks from the functionality is object detection. This provides the capability for AI to read, understand and translate photographs of handwritten notes and convert into word documents, or analyse text from Excel or PDF and feed directly into the appropriate Dynamics 365 fields. The time-saving capabilities of these tools are immense.  Anywhere you can rekey data, you can feed to Power App, AI will read, recognise the data and populate it. This will be extremely helpful for rebuilding and legacy platforms.

Analyse: Power BI for insurers  

Power BI is Microsoft’s market-leading intelligent business analytics solution. With familiar Excel-like controls, with Power BI, users can connect a multitude of data sources – legacy on-premise, in the cloud or elsewhere –  to gain valuable insights, analyse trends and make rapid, data-informed decisions. Data is visualised helping teams share insight, collaborate and report across the entire organisation, on any device. With in-built governance and security, sharing customised dashboards and interactive reports with the right teams at the right times becomes process-led, with the right risk controls in place to protect the sensitive information in your business.   

Some sample use cases of Power BI for insurers 

  • Power BI allows users to visualise real time insights and analysis of losses from insurance claims. This constant feed of data empowers business users to highlight trends across the business and leverage underwriting data to make prudent business decisions, minimising future losses. 
  • Create visual reports to analyse your brokers, agencies and intermediary performance levels. Understand which relationships are working well or which may need urgent attention. Visually view gross written premium per broker and understand the cost of each new policy or renewal.  
  • Closely analyse policy and product performance. If a product is performing particularly well within a certain demographic or geographical area, this may inform a reactive marketing campaign or a review of the policy price point.  

Recent enhancements for Power BI in insurance  

Within the latest Power Platform release, Power BI improvements focus on four critical areas that drive a high performance data culture. Largely AI focused, these are: intuitive experiences, a unified BI platform, big data analytics, and pervasive artificial intelligence.  

Automate with Power Automate for Insurers  

Microsoft’s Power Automate – again, low code, no-code, point and click functionality –  puts power to create complex workflows within your organisation. It uses over 250 out of the box connectors to automate all types of processes and removes the risk for human error stalling a journey’s progress. Once the Power Platform has been implemented and adopted by your workforce, Power Automate removes the need for developer support to create workflows, heavily reducing costs and implementation time for new business critical or improvement processes.   

Like the rest of the Power Platform, Power Automate provides point and click functionality that connects legacy technology infrastructure. Out the box connectors integrate not only with Microsoft tools but less well known systems too. Secured within the Microsoft cloud, these workflows provide the functionality to move your insurance business forward.  

Some sample use cases of Power Automate for insurers 

  • Power Automate can connect sales journeys, policyholder on-boarding and renewalsClients or intermediaries complete front-facing Power Apps Portals forms are then connected to the next stage of the process for action, review, risk, approval, decline. With data feeding directly into the CRM, a risk audit trail is created, productivity maximised and data accuracy maintained.  
  • When call centre activity spikes – for instance, regarding storms claims when the UK has been hit with bad weather – Power Automate can be connected to a quick deployed bot that can direct clients towards self-service options for lodging the claim or answering frequently asked questions 

Recent enhancements for  Power Automate in Insurance 

Power Automate’s new functionality creates smarter, more meaningful experiences in three key areas. Users – again with varying levels of expertise – can leverage world-leading business process capabilities, work off-line and make use of rich administration tools that drive connectivity across the insurance business.  

Why invest in the Power Platform?  

A recent Economic Impact study of Dynamics and the Power Platform highlighted that the average cost of app development is reduced by 70% with Power Apps and Power Automate, with £2.9 million avoided in application development and management costs. These types of cost savings are indicative of the costs and productivity savings that can be made with each individual solution within the platform. Combined with no-code capabilities that drive high user adoption, it’s clear that return on initial investment is high. And with the tools included within the standard Dynamics 365 licensing, it’s easy to get started with Power Platform today.  

Redspire and the Insurance sector.  

At Redspire, we’re leading radical digital transformation in the insurance sector via world-class Microsoft technologies. Together, we’re helping insurers understand and engage customer needs and deliver seamless, proactive and personalised experiences. We’re improving underwriting processes, loss ratios and policy lapse rates whilst reducing customer churn. In the new, differentiated marketplace, everything is to play for.  

Redspire and Microsoft have joined forces on a co-hosted webinar series that showcases how to put low-code, no code, point and click technologies in business users’ hands, with Microsoft Dynamics 365 and the Power Platform. Watch the webinar on-demand now and if you want to see the tools in action, view the follow up demo.

If you’d like to find out more about how the Power Platform’s Triple-A-Loop can support your Insurance firm through its next phase of digital transformation, read how the Power Platform can automate a claims scenario, get in touch with our team of specialists today on 0845 226 8170 or info@redspire.co.uk.   

2 min read

What’s new in Microsoft Dynamics 365 wave 2?

, ,

The October 2019 Dynamics 365 wave 2 release for Dynamics 365 is, as expected, is a love story to Microsoft’s continued investment in AI and commitment to industry and commerce. The release brings a whole host of AI-infused and industry specific capabilities and brand new world-class innovations that provide meaningful capabilities to digitally transform organisations of all shapes and sizes.

The enhancements and improvements to Dynamics 365 suite of applications include hundreds of brand new capabilities across the usual business process applications.

  • Sales
  • Marketing
  • Customer Service
  • Field Service
  • Project Service Automation
  • Finance
  • Supply Chain Management
  • Talent
  • Retail
  • Business Central

Microsoft October 2019 release for Dynamics 365 wave 2

We recently shared an article covering AI driven sales insights, market insights and customer insights capabilities and enhancements. Additional release announcements include Dynamics 365 Product Insights, which connects product telemetry to Microsoft Business Applications, bringing valuable in-branch, store-level insights and gives visibility into product and service performance and customer interactions.

Enhancements to Dynamics 365 Customer Insights extends the reach of the tool further from mainly B2C scenarios. Additional features will now allow organisations to generate powerful insights into complex B2B journeys too and understand and serve leads and accounts better.

At Redspire HQ, we’re very excited about Dynamics 365 Virtual Agent for Customer Service. This is a vital tool to deliver enhanced customer service and experience, and is improved with with brand new authoring capabilities. This allows users to test and deploy AI-powered chat bots with greater speed, freeing front line agents to focus on more complex issues, and providing deep insights into customer satisfaction and experience.

Security and risk is also covered. Dynamics 365 Fraud Protection provides a formidable fraud protection solution,  decreasing fraud costs and helping increase acceptance rates for customer payment transactions.

The Power Platform

The Power Platform is bringing unbelievable new hands on automation and innovation superpowers to organisations and internal teams globally. The new wave 2 capabilities really extend their reach and maximise the power of AI for everyone from pro-devs to front of house teams. Read more in yesterday’s Power Platform article or get in touch with us to find out more.

About Redspire 

Whilst just scratching the surface of the top tier Dynamics 365 wave 2 enhancements here, our technical team are delving deep into the new capabilities to bring them to our clients. As a Microsoft Gold Partner, leading business transformation in Banking, Insurance, Government and FMCG, we know Dynamics 365 inside out and we love getting under the hood of our clients’ businesses to innovate, automate and return on your digital investment.

To read more about the Microsoft technologies driving digital business transformation, download our guide today. To discuss how Dynamics 365 and the latest technologies from the Microsoft stack can transform your business, please get in touch with our team of specialist Microsoft-accredited consultants today for an informal chat. Ask about our suite of on-site business transformation workshops. Call 0845 226 8170 or email info@redspire.co.uk.

 

 

8 min read

Banking on AI with Microsoft Dynamics 365

, , ,

“Artificial intelligence isn’t going to replace bankers. It’s going to optimize how banks work by helping them become more agile, make smarter decisions, and, ultimately, stay more competitive.” (Banking on AI, Microsoft, 2019)

With the October wave 2 release for Dynamics 365 featuring 400 new updates and capabilities across Dynamics 365 and the Power Platform (more about that soon), as well as brand new AI-infused, industry-specific capabilities included in the release, our attention at Redspire is on how AI (Artificial Intelligence) is evolving banking and financial services . Should the c-suite be banking on AI to drive product and service innovation and steer customer excellence? The short answer: yes. It’s rapidly becoming clear that current and emerging artificial intelligence has the power to transform FSI, far more than any other technologies have done in recent years.

Microsoft investment in AI insights

Microsoft’s continued investment in AI is helping the banking sector turn valuable agent, customer, product, sales and competitor data into proactive ideas and action. Existing AI insights are already revolutionising product and service delivery for early adopters of the capabilities in banking. Yet as we hone and develop new and exciting use cases for our FSI clients with the features like AI builder, the opportunity to transform operations is immense. AI-driven agents, rapid implementation model and line of business apps and problem solving bots used alongside constant machine learning will boost team productivity, solve immediate business or operational pain and drive experiences with the sharpest of precision.

Out of the box Dynamics 365 AI tools for banking

The three main pre-packaged AI tools that are really allowing our banking clients to predict customer needs and provide services when the customer wants, just how the customer wants it are:

These insight apps, particularly when powered by Azure AI, enable bankers to apply artificial intelligence within line of business workflows that slicken operations and steer customers to the right channel for their needs. That could be a knowledge centre bot to answer a simple, frequently asked question or a rapidly deployed bot that’s been set up to respond to an emerging complaint theme. This sort of client self-service frees up Relationship Managers and gives them almost superpower like abilities to drive more personal and well-rounded customer experience. Teams can provide tailored, value-driven communications through a 360-degree view of their customer, across all business departments. Predictive intelligence analyses data touch-points like buying habits, financial aspirations and emphasis on income-proportionate savings, and can help banks better understand the customer sets that will respond better to specific and targeted offers, and create hyper-tuned cross-sell opportunities based on the information gathered and analysed by the AI systems.

But what does this look like in action?

Dynamics 365 AI for Sales Insights

If we had to pick a tool from the Dynamics suite that’s absolutely vital to the success of banking sales performance and levelling the playing field for incumbent banks and challengers, this is it. Steering opportunity propensity to close and measuring the sentiment of communications to serve you insight on how the relationship is going is only scratching the surface of the capabilities of the AI. For example, the sales insight tool listens to calls and can provide slick, in-depth feedback and a wealth of learning from the call, such as:

  • Conversation analysis: Did the sales agent provide enough information in line with the customer’s needs? Did they talk too much or too little? This can really hone individual sales capabilities and help create sales playbooks for future opportunities.
  • Sentiment analysis: Cognitive AI measures and reports back on customer mood within the conversation. Were they upset, excited? This can be used to turn the sales opportunity around by recommending next best action if the propensity to close has decreased and also be used by sales and relationship managers for future coaching.
  • Keyword and trends analysis: AI can measure and pick up on keywords and report on an individual level or a collective department or organizational level if there are any keywords that are trending up and down. For example, a banking competitor or new lending product is being mentioned more often than usual. This is reported to the sales manager who can then create sales battlecards to overcome the threat before the competitor has had a chance to steal market-share. Similarly, this tool can report back if there are recurring queries or objections that salespeople are having to overcome and create solutions, collateral or playbooks to support.

With AI for Sales Insight’s predictive lead and opportunity scoring, salespeople are provided with valuable AI insight to prioritise the right relationships, to help close faster and win more business. Sales Managers can analyse individual, team and third party performance and view rich sales activity reports and view pipelines at the touch of a button. This is just a few examples of the tool in action. Get in touch today if you want to chat Sales for AI with our consultants.

Dynamics 365 AI for Customer Service Insights  

Of course, it isn’t all just about selling. With customer experience a key differentiator in banking and competition levels fierce, delivering impeccable customer service is vital in both retail and commercial banking environments. What does AI infused customer service look like within a banking? Like Sales Insights, Dynamics 365 AI for Customer Service Insights can use predictive analytics to provide actionable insight into business critical performance metrics. AI analyses operational and customer contact data to group cases and provide trends in real time to highlight and create instant solutions – before issues get out of hand. In-house teams receive reports that action is required and they can then create an easily configurable bot to respond and answer basic questions, measure their sentiment and pass the complaint to a team member if they require higher touch interaction. Throughout the entire process the AI and bots are collecting constant feedback and feeding continual improvement Built-in reporting dashboards, interactive visual charts and reports provide views into support operations data across channels, highlighting improvement and best practice that will have the greatest impact. Customer service managers can quickly evaluate and act to meet key performance indicators (KPIs) and maintain customer satisfaction levels.

Dynamics 365 AI for Market Insights  

So you’ve got your sales and service performing with AI. What’s next? Understanding your own and your competitor brand position with AI for Market Insights. Interpret what your customers say, do and feel about your organisation online and measure their sentiment against your bank in comparison to key competitors. Are you delivering on brand promise and customer excellence? AI for market insights is also valuable to when managing third party relationships in the banking environment. Are your stakeholders getting what they expect from the relationship?

How safe and secure is AI for Banking?

Machine learning functionality provides a comprehensive analysis for deeper insight into risk and operational models, as well as real-time response to the intelligence gathered for an enhanced risk management procedure – specifically tailored to suit and meet any regulatory requirements like GDPR or advanced AML checks.

The data collected is safely and securely stored in Microsoft’s award-winning Azure cloud infrastructure, with multi-factor authentication, continuous monitoring, increased transparency and digital privacy protection to ensure all sensitive data adheres to any industry, domestic or global standards

The future of AI and overview of the new release AI tools

By 2021, Gartner estimates that AI augmentation will generate about $2.9 trillion in business value and recover about $6.2 billion in worker productivity

On top of the existing AI capabilities, the October 2019 release brings a whole host of AI-infused capabilities that will help the banking sector thrive. Dynamics 365 Product Insights connects product telemetry to Microsoft Business Applications, bringing valuable in-branch or ATM insights and give visibility into product and service performance and customer interactions.

Enhancements to Dynamics 365 Customer Insights extends the reach of the tool further from mainly B2C scenarios. Additional features allow banking organisations to generate powerful insights into complex B2B commercial banking journeys and understand and serve leads and accounts better.

We’re very excited about Dynamics 365 Virtual Agent for Customer Service, which is currently still in preview. This is a vital tool for all banks and financial services firms, and is enhanced with new authoring capabilities. This allows users to test and deploy AI-powered chat bots with greater speed, freeing front line agents to focus on more complex issues, and providing deep insights into customer satisfaction and

Dynamics 365 Fraud Protection provides a formidable fraud protection solution,  decreasing fraud costs and helping increase acceptance rates for customer payment transactions.

Finally Microsoft have enhanced the Microsoft Banking Accelerator, released earlier this year, with use cases for retail banking and sample APIs for interoperability with the Banking Industry Architecture Network (BAIN). These enhancements enable banking and financial organizations to rapidly build intelligent, data-driven solutions across retail and commercial lines of business, accelerating time to value for a range of customer scenarios.

Banking on AI?

It’s an exciting time to be in banking! Implementing Artificial Intelligence has the power to transform the industry in ways we’ve never seen before. Cost saving, improving the speed and efficiency of decision-making, identifying and supporting new cross-selling opportunities for new and existing customers and most importantly, working towards the full and uninterrupted retention of all current business across the various departments and services. All whilst growing revenue and boosting the bottom line.

For more information on the Future of Banking download our Future of Banking white paper. To discuss what Microsoft and Artificial Intelligence can offer your business. get in touch with Redspire today on 0845 226 8170 or email us on info@redspire.co.uk.

6 min read

Digitising Data in Insurance

, , , ,

In today’s digital-first world, our way of life is constantly evolving. How each of us is connected to each other, the companies we use, the goods and services we procure and how they’re delivered to us today looks very different to the digital landscape of just a year or two ago.

Despite a cautious approach in the early days of digital transformation, digitising data in insurance is well underway. As with the wider Financial Services sector, insurance is in a process of on-going, accelerated change, and it’s steering how the c-suite approach operations and policyholder service delivery. As insurance goes digital, competition for customer spend and attention is fierce, bringing opportunity to differentiate on brand proposition, service and experience. The onus isn’t just on attracting and retaining customers, it’s on ensuring a unified experiences across the entire portfolio.

Recent research by Microsoft has shows that 76 per cent of customers and prospects have researched your website or done a web search on their query, before they make contact with an insurer. Bruce McKee, financial services industry manager at Microsoft UK says: “By the time they’re on the phone, they already know a lot about the products they want so they’re likely to ask more difficult questions and expect increasing levels of expertise from staff.”

For your insurance business to not just survive but truly thrive, the c-suite are encouraged to focus energies and investment on building CRM driven service and operations. Create a digital-first culture, implement new technologies that drive meaningful interaction to truly transform the systems and processes that drive employee, intermediary and customer engagement. To find out more, read our Digital Insurer white paper today, watch our Digital Transformation in Insurance video series, or sign up for our Digitising Data in Insurance blog series, direct to your inbox.

  1. Deliver omni -channel user experiences via a customer centric CRM to gain competitive advantage and drive long-term customer and agent loyalty

When you place your insurance customers at the heart of an interactive business ecosystem, where they can contact you on their channel of choice, as and when they choose, with a unified cross-channel response and real time knowledge and understanding of their needs and issues; you create an immersive sales and service environment that engages. Customer experiences that can’t fail to stick.

Microsoft’s suite of business application tools are delivering these experiences in the insurance sector. Microsoft Dynamics 365 unifies insurance customer data in real time and integrates with tools like Unified Service Desk, Power BI and PowerApps to help build communication networks that drive sales, inspire loyalty, encourage satisfaction and increase customer lifetime value. Digital self-service via low and no code apps, developed rapidly in-house increases team productivity whilst empowering the customer to transact on their own terms, often without ever needing to engage with an agent.

Additionally, the data insights leveraged across these communication tools, from agent channels and customer portals, to mobile, social and web interactions build an invaluable 360-degree view of your customer and their needs. Predicative AI and relationship insights tools support by taking the guesswork out what of your customer needs and next step actions are. When those insights are available to your people, customers are provided with pro-active consultative support and sales conversations land with razor sharp precision.

Looking at the claims process, that single version of the truth and the productivity tools of Dynamics 365, Unified Service Desk and O365 can speed up the claims process, allowing remote assessment, works management and completion, often without the need for loss adjuster visits.

  1. Creating digital workplaces that empower relationships and service excellence

End user customers aren’t the only winners of a unified data system. Unlike other financial networks, in insurance the eco-system contains third party agents and intermediaries that often aren’t directly employed by the firm. Building loyalty and delivering smooth operations to these stakeholders and third parties is imperative to the bottom line.

That interconnectivity of the business, agents and policyholders can be achieved with bespoke portals that feed in directly to the Microsoft Dynamics 365 CRM, connecting household data and documents with the correct product and service at the right price point.

It goes without saying that ease of service is under serious scrutiny at this point in the sale. With customers often talking to a number of insurers, both price and experience are key differentiators. Additionally, intermediaries will naturally steer towards the platforms that provide them with great accessibility and experience and the ability to sell, connect and close quicker.

Unified communication via handheld devices, easy access to product and service information, forms and eSign capabilities that connect product, agent, system and customer can replace a laptop or desktop without compromising on service levels. On an access as required status that secures sensitive customer data.

  1. Providing accurate real-time insights

Real time insights provided by Dynamics 365 allows you to unify all of your customer data, applications, claims and complaints into one easily accessible system. With Dynamics data insights you can better understand customers, accelerate applications and decisions; create personalised insurance offers; gain a 360-degree view of internal and external data, predict customer needs and provide custom solutions.

With constant advances in the tech and new bi-annual releases, teams can progress action and help when there is trouble, automate processes and augment human ingenuity with AI and cognitive capabilities to meet customers where they are.

For call centre staff, access to these insights and unified service data help provide a pro-active service to consumers who are informed and often quite far down a sales pipeline via their own personal research. Microsoft Unified Service Desk collates data from the legacy sources and knowledge materials that help agents answer tricky questions and fulfil customer needs. Data insights impact all areas of customer delivery and improve profitability. Eradicating ageing systems and disparate silos also helps reduce over and under pricing and monitor fraud, depreciating trends and unnecessary claims payouts that are impacting your bottom line.

Digital disruption and transformation is in motion from the top down, and across the financial services and insurance sector, everything is to play for. From new market entrants to established High Street names, insurance firms globally are rapidly accelerating and shape shifting into highly focused, strategically planned, modern and agile institutions.

Microsoft Dynamics 365 and the wider Microsoft ecosystem is steering differentiated customer journeys and operational success. In a rapidly evolving business environment where the strongest and most innovation hungry institutions will thrive and survive, the question is: ‘How does your organisation’s digital strategy stack up?’

At Redspire, when we partner with you, we become your dedicated Dynamics partner throughout your whole improvement journey. We have particularly strong capabilities in Financial Services, FMCG, Government, and Third Sector and we have worked on the biggest operational challenges facing these industries today. From Small Business Banking improvements at CYBG, client and stakeholder engagement at Money and Pensions Service and our expertise in Dynamics 365 and the wider Microsoft ecosystem within insurance firms like Ellipse, Saffron and The Judge, we help our clients achieve operational excellence and project delivery that promises return on investment.

Want to find out more? Download The Digital Insurer white paper today. If you’re ready to chat, contact us on 0845 226 8170 or email us at info@redspire.co.uk. We’ll get back to you right away.