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1、TABLE OF CONTENTS030405070608IntroductionIncorporate Warranty and Service Data to Drive Meaningful Business TransformationLeverage Key Data to Develop Profitable and In-Demand Service OfferingsEncourage Service Best practices Among Your Network of ProvidersSupercharge the Claims ProcessDeliver Excep
2、tional Customer ExperiencesINTRODUCTIONMake Your Warranty Business More Strategic With A Little Help From AI3Until recently,warranty offerings and service plans were(pardon our French)a little boring.Insurance companies and third party warranty businesses created plans based on probability,offered t
3、hose static plans to consumers and businesses,and waited for the claims to come in.Today,warranty is coming into the spotlight as a strategic business tool.The data generated from these products can be mined to create offerings that resonate with buyers and maximize profits.But to create this transf
4、ormation from afterthought to innovation enabler,companies need to extract and analyze that data.Heres why.That valuable data holds the key to:Understanding consumer demand and behavior Creating service plans that resonate with buyers and mitigate risk Transitioning to a more agile business with low
5、er operating costsThe problem:That valuable data-the gold mine of insights-has been ignored.But its not your fault.Historically,this data such as free text,service notes and anything else that lives outside a database(or even in siloed databases)has been too difficult to mine and analyze.Today,its m
6、uch easier and cost-effective to leverage AI for quick results.Heres how the addition of AI can benefit your warranty offerings:Bring digital transformation to the entire business Use data to create more profitable service and warranty offerings Speed up processing times with a higher degree of accu
7、racy Encourage service best practices among provider networks Deliver exceptional customer experiencesMake Your Warranty Business More Strategic With A Little Help From AI4.And do so in record time.“When warranty management departments are included in larger transformation projects,that data becomes
8、 another key change agent in the move to deliver exceptional service in the new experience economy.”Thats according to Aly Pinder,program director Service Innovation and Connected Products IDC.AI can take historical data and previously hidden data from multiple sources related to equipment and turn
9、it into actionable insights for both service and warranty management.Smart tools can categorize and prioritize this disparate data,helping warranty managers zero in on the most high-risk claims.All this data presented in one single view helps them quickly process or reject high-risk claims,and do so
10、 with high levels of certainty.From an operations perspective,the automated insights help lessen the burden on a workforce with a heavy workload.In addition,the insights regarding claims can be shared across your company and with your OEM client to help drive better experiences across all functions,
11、from product development and innovation to sales,service,and marketing.As Pinder explained during the recent webinar-Warranty+AI:The Next Frontier In Service Transformation,“AI isnt just a cool new thing,but its now a tool for making your entire business more resilient.”INCORPORATE WARRANTY AND SERV
12、ICE DATA TO DRIVE MEANINGFUL BUSINESS TRANSFORMATIONMake Your Warranty Business More Strategic With A Little Help From AI5What you dont know can hurt your business.How are customers making purchases?What motivates them to protect those purchases with extended or subscription service plans?How do the
13、y want to work with businesses when its time to file a claim?What creates loyalty and long-term business opportunity?If you could shake the magic 8-ball and extract the answers to these questions,it would be easy to create policies that were attractive to customers while minimizing corporate risk.To
14、day,no technology can guarantee outcomes,but AI tools that dig into existing data do a fantastic job of providing a“fingerprint”of behavior and demand.Ultimately,this data,when analyzed and presented in easy-to-understand formats with actionable recommendations,helps warranty and insurance businesse
15、s maximize profits by creating the right plan with the right features that are attractive to consumers,and at a price point they cant turn down.LEVERAGE KEY DATA TO DEVELOP PROFITABLE AND IN-DEMAND SERVICE OFFERINGS“AI tools help businesses maximize profits by creating the right plan with the right
16、features that are attractive to consumers,and at a price point they cant turn down.”Make Your Warranty Business More Strategic With A Little Help From AI6.While also making it more accurate.The sheer volume of claims that businesses process have led to oversimplified rules for review.The result of t
17、hese thresholds is that too many claims that are just shy of these cut off points fall through the cracks.AI tools like Intelligent Warranty Audit by Aquant are like having a team of claim detectives at your service.The technology adds ROI by guiding claims managers through the cases that have the b
18、iggest impact on the bottom line.The platform makes quick work of the process.First,the system uses historical data to create a baseline of activity and flags anomalies.Then it provides a 360 degree view of the claims in question to quickly classify and identify high-risk claims.It prescribes risk t
19、o each claim,using AI and machine learning to analyze asset history,service provider performance and even the free text problem and solution descriptions in each claim.This empowers claims managers to prioritize high-risk claims while gaining key insights without the need to manually dig through pap
20、erwork.It also helps busy teams accept or reject a larger number of claims with greater certainty,giving them time to focus on those claims with the highest degree of uncertainty.SUPERCHARGE THE CLAIMS PROCESSMake Your Warranty Business More Strategic With A Little Help From AI7ENCOURAGE SERVICE BES
21、T PRACTICES AMONG YOUR NETWORK OF PROVIDERSAnd drive better outcomes.Some providers are better trained and breeze through repairs.Others may routinely deal with more complex products which in turn require more complicated and expensive solutions.Right now,because of the lack of transparency,its chal
22、lenging for claims managers to understand great behavior from mediocre to poor performance.Aquants AI creates a baseline pattern of behavior making it easy to see,at a glance,things like which providers are:Regularly submitting claims just shy of the auto approve threshold Have a habit of submitting
23、 claims for assets that are about to go off warranty Exceeding the norm,and coming in under budget on a regular basisThe platform does not label these behaviors as good or bad,rather,we let you create alerts for these cases.This enables you to offer more training,create incentive programs,or deal wi
24、th providers based on data,not hunches.Make Your Warranty Business More Strategic With A Little Help From AI8And foster brand loyalty.Faster,more accurate claims processing also benefits customers.Those who submit claims,whether consumers or service providers,can look forward to prompt reimbursement
25、 and a more streamlined process.“Enhanced digital tools such as AI are critical beyond simply improving day-to-day operations for warranty departments.Manufacturers and service organizations should view the warranty management process as another opportunity to deliver value to customers,”notes Pinde
26、r of IDC.“When warranty management departments are included in larger transformation projects,that data becomes another key change agent in the move to deliver exceptional service in the new experience economy.”DELIVER EXCEPTIONAL CUSTOMER EXPERIENCESHow Aquant Drives Measurable Business ImpactQuick
27、ly Aquants AI-driven platform categorizes and prioritizes disparate data,helping warranty managers quickly process or reject high-risk claims.The technology analyzes data from multiple sources to quickly identify and alert warranty managers to high-risk claims for review by analyzing:Asset service h
28、istory Service provider performance Customer behavioral trends Anomalies in cost,service,or other criteria This is AI made easy.A typical implementation can be completed in a matter of weeks,ensuring rapid ROI.GET A WARRANTY PERFORMANCE ASSESSMENTWant to understand how AI will transform your warranty business?Sign up for a free AI-powered analysis,and identify opportunities for immediate warranty optimization.Find out more at https:/www.aquant.io/7dc-warranty-assessment/Have more questions?Drop us a note at helloaquant.io