Overview
Tokio Marine HCC (TMHCC), a leading specialty insurance provider, prioritizes understanding customer needs to build loyalty and ensure long-term success. To stay competitive, their US executive team pursued AI innovation, aiming to modernize their data ecosystem for dynamic decision-making. Traditionally reliant on technical experts for static insights, TMHCC sought to empower their team with real-time data access.
They recognized the importance of enhancing their operational data systems and partnered with evolv, an Elite Tier Services Partner of Snowflake, to overcome challenges like fragmented data sources and regulatory diversity, ultimately unlocking AI’s potential for future growth.
tech stack used
Solutions
st
challenge
Despite TMHCC’s success in underwriting a wide array of specialty insurance classes globally, the company grappled with a significant hurdle: harnessing data effectively for strategic decision-making. Fragmented, siloed data systems impeded their ability to derive cohesive, actionable insights while ensuring compliance. The manual, labor-intensive process of extracting performance insights strained their skilled team, pulling them away from strategic endeavors, and left executives feeling underprepared for timely decisions, hindering business performance. To tackle this, TMHCC’s executives pursued an AI-driven solution, aspiring to implement a chatbot that could streamline real-time data interactions through natural language queries. This innovation was designed to enhance decision-making speed and quality, empowering the organization to sustain its growth and expand its innovative edge.
solution
evolv, as an Elite Tier Snowflake Services Partner, empowers clients seeking innovation beyond revenue growth. They strategically blend strategy with technical execution and engaged deeply with TMHCC to develop a tailored AI strategy. By applying an iterative approach, evolv crafted a cutting-edge executive performance insights chatbot using Snowflake’s AI platform. This solution harnesses natural language processing and machine learning, integrating smoothly with TMHCC systems to provide real-time, precise insights accessible to users at all levels of technical expertise.
Key Features of the Ai-driven solution:
- Conversational AI Interface: Easy to use app interface, empowering executives and teams with unprecedented real-time data accessibility and strategic insight capabilities.
- Real-Time Data Processing: Executives can make timely, informed decisions with immediate access to critical data, ensuring strategic planning is based on the most current information.
- Integration with Existing Systems: Integrating seamlessly with infrastructure, the platform creates a unified data analysis solution that eliminates silos, streamlines workflows, and ensures accurate, organization-wide data alignment.
- Intelligent Query Suggestions: Encouraging deeper exploration, this feature suggests relevant questions from initial queries, driving thorough analysis and enhancing data-driven decision-making for improved strategic outcomes.
- Automated Semantic Model Generation: Automating complex data processing tasks reduces manual input, enabling enterprise-wide scalability and effective data insight utilization for optimized resource allocation.
- Advanced Visualization Options:The intelligent plotting features allow for effortless transformation of data into compelling visuals like bar and pie charts, facilitating quick recalls, seamless sharing, and enhanced clarity of data presentations.
approach & action steps
1
Strategic Assessment and Requirements Gathering: evolv engaged TMHCC stakeholders to understand their needs and goals, establishing a clear project direction aligned with business objectives.
2
Proof of Concept (PoC) Development: A prototype chatbot was created to test natural language processing, showcasing its potential to transform data interaction with initial targeted data sets.
3
Iterative Design and Testing: The chatbot was refined through real-world feedback and evolving business needs, ensuring system robustness and accuracy to meet executive standards.
4
System Integration and Customization: The chatbot integrated smoothly with existing systems using custom APIs, ensuring efficient and secure data flow, while streamlining data processes and enhancing operational connectivity.
5
Enterprise-Wide Deployment and Scaling: The chatbot was deployed to teams, with scalability features to handle growing data volumes and user interaction, while enhancing operational efficiency.
6
Continuous Improvement and Executive Support: Ongoing updates and support ensure alignment with TMHCC’s business goals, optimizing functionalities based on performance metrics and feedback.
results: a new era of operational excellence
The implementation of evolv’s AI-driven solution first proof-of-concept marked a turning point for TMHCC.
Improved decision-making
Decision-making accuracy increased by 25%, equipping executives with precise real-time insights and intelligent suggestions. This empowers leaders to shape strategies confidently, fostering a competitive edge.
enhanced operational efficiency
The solution cut data retrieval and processing times by 80%, freeing teams to focus on strategic projects and boosting productivity.
cost reductions
Operational costs decreased by 20% as process automation eliminated redundant tasks, streamlining workflows, and optimizing resource allocation for better profitability.
executive enablement
There was a 35% improvement in data insight among executives with minimal technical know-how, thanks to the user-friendly interface. This shift enables informed decision-making across leadership.
