In this case study, we’ll apply the Insurance Customer Life Cycle Analysis to publicly available review data to help Hastings Insurance gain greater insight into potential performance improvements.
Understanding The Impact Of COVID-19 On Your Business
A dedicated Task Force at Touchpoint Group, headed by CEO Frank van der Velden, has been established to help businesses utilise Ipiphany’s AI technology and focus specifically on the impacts of COVID-19.
The events industry is one which has been most affected by COVID-19, with the government-mandated cancellation of all gatherings in order to stop the spread of the virus. Within the span of a week, New Zealand went from shutting down gatherings of more than 500 people to the cancellation of gatherings of any size. This has already led to significant loss of income - something that the New Zealand Events Association (NZEA) is trying to minimise.
NZEA was proactive in their solution. Immediately, as NZ set restrictions in place, they surveyed those affected to gather insight on the COVID-19 impact, intending to present their findings to the government to support their request for an economic stimulus package. However, NZEA had no way to analyse the feedback they received to their open-ended survey questions at a rate sufficient enough to match the change in circumstances, risking the data becoming obsolete in just a matter of days as the country prepared for lock-down.
Within 24 hours of receiving the survey data, Touchpoint Group was able to provide in-depth insights around what organisers were most concerned about following the outbreak. By specifically tuning the Touchpoint AI Analyst, Ipiphany, to process language around COVID-19, it was able to read, analyse, and detail constructive results, using 100% of the data - not just a sample, in minutes.
As a result, NZEA was able to use this list of insights to present to the government the following day. NZEA also received nationwide media awareness supporting their findings. Using traditional analysis techniques for data of this type and on this scale would have taken weeks, and choosing to speed up the process by analysing a smaller sample would have yielded incomplete results and still involved several days.
Due to the speed at which the first survey was analysed and presented back to NZEA, they were able to dispatch a second survey, updated to reflect the changes in the status of COVID-19 in New Zealand and the further restrictions on events and gatherings. This survey contains more specific questions to best take advantage of the power of the Ipiphany AI, and the findings will be used once again to get up-to-the-minute data on how COVID-19 is affecting the industry, pulling insights on how best to help.
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