KPISoft Uses AI to deliver performance-enhancing insights. Listen to the entire conversation between Cheryl Matochik, The Council's SVP of Strategic Resources & Initiatives, and Scott Robertson of KPISoft.
We started looking at strategies that were happening in the B2C world, whether it was something like a Facebook or a Netflix or a LinkedIn or even in an Uber type of scenario, where technology began to understand the user and began to make recommendations to the user. That’s really when we began to change the idea of what analytics was and how consumers and users wanted to be able to adopt analytics.
We did a global launch in 2016, and from that time, we’ve grown sales and operations across Asia, Middle East, North America, and our client base extends in all multiple areas or segments, whether it’s manufacturing, government, fintech, mining, health, wellness—and certainly insurance is a very large sector that we play in. We’ve had a lot of fun success in insurance.
We rolled that scenario out to where we could get down to an independent agent level—what was important to that agent, how could they grow their book of business, what kind of product looks might they want to be able to bring into their particular marketplace. The way our platform works is it contextualizes at each level.
There are different personas, right? The chief revenue officer at the agency was wanting to see longer-term trends. The area managers within the agency wanted to be able to understand different performance levels across multiple agents and multiple location scenarios and how to be able to help enhance and grow each one of those agencies in their particular regions.
And then down specifically at the agent level, they wanted to know what to do about their book of business. As we contextualized those insights all the way down, what we found was you could align where the key performance factors were for the organization from a strategic level but also at the agency level. And you saw a growth in wallet share, you saw a growth in premiums, you saw a growth in market segment that began to have a very significant effect for the organization.
There’s a lot of real-world data that’s just sitting out on the web or other industry reports. We bring all of that data in, whether it’s structured data that might be in a database or unstructured data from reports or whatnot.
The key to all of that, though, is that we spend a lot of time with our clients understanding what is it that you’re trying to measure—what are the data points that are most significant to the organization that you’re trying to elevate, that you’re trying to grow.
The other organization that’s really strong inside the marketplace is that middle-market organization. They’re not really looking for deep data science. But what they do want is smart analytics. They want to be able to take the data they have, apply smart analytics to it in an easy-to-understand way, and push that out to their field. The quicker they can push that out to the field in a highly adoptive, personalized manner, now they get the benefit of analytics without the heavy, heavy investment maybe that’s needed and the deep data science that’s needed that they’re not ready to go whole hog into.
So those are the two key areas that we look for. First and foremost, it has to be an organization that recognizes data as an asset. If the organization doesn’t recognize data as an asset, it really doesn’t matter what we put into place.
But we’ve seen organizations want to do different scenarios. We’ve seen organizations want to be able to look at claim management and sales operations. Sales is that first part of it, but then sales operations is a significant part of it. And then marrying sales operations to marketing spend and being able to tailor what is going on from our marketing organization and different marketing campaigns and how that wraps back to opportunities for the sales individual to be able to drive growth. And then how sales operations is supporting that growth once an actual policy or once an actual risk is placed with a brokerage firm or with a company itself. What is the insight of our customer relation, and how well are we serving the customer on a day-in and day-out basis? There are multiple areas that we get into based on what that particular company and what the strategy of that company is inside the market that they’re trying to play.