Korea’s KB Insurance among the organizations benefiting from SAS Analytics

After a car accident or storm damage to your small business, the last thing you want is a slow response from your insurance company. Thanks to SAS®, customers of KB Insurance in Korea experience quicker and efficient service with their claims and questions.

With the help of the SAS Platform and its SAS® Viya® products, insurance companies can deliver quick, accurate and reliable analytical insights for their businesses and their own customers.

Other users of SAS Viya include Highmark Health, one of the US’ largest integrated delivery systems, serving more than 4.5 million customers across the mid-Atlantic region; and Stuttgarter Lebensversicherung, a German insurance provider offering private and corporate services. These join other SAS Viya customers already seeing success including Institute for Veterans and Military Families, an organization at Syracuse University that supports the often-challenging transition to civilian life for more than 200,000 military service members each year; and Dutch sports analytics firm SciSports.

KB Insurance is one of Korea’s largest consumer and commercial insurance providers, helping customers resolve stressful situations. A subsidiary of KB Financial Group, Korea’s leading financial institution, the insurer offers policies for auto, health, property and business. It serves more than 6 million people.

When a customer needs to make a claim, KB Insurance offers both online, phone and in-person options to make the process easier. However, the company found bottlenecks at its customer centers, harming the customer experience and increasing employee workload. KB Insurance turned to SAS for an analytical solution with speed and scale.

Using SAS Viya, KB Insurance analyzed customer characteristics and the overall workload at its 86 customer centers over 15 months. Patterns quickly emerged. For example, the data analysis showed that customer center employees handled 40 percent of in-person claims at the end of each month, and about half of overall customer interactions occurred during the latter portion of the workday.

The company then completed a clustering analysis with SAS Viya to assess priorities for the centers and suggest optimal staffing and project assignments. The goal was to improve customer satisfaction with the claims process by reducing or reassigning employee workload based on factors such as customer demand (how crowded each center got) and customer value (how quickly claims and questions were handled).

“Tackling this problem would not have been feasible without the speed and scalability of SAS Viya,” said JaeWon Seo, Data Analytics Manager at KB Insurance. “As we implement the projects within each group of customer centers, we’re able to better support the staff and improve the customer’s claim experience.”

SAS Viya provides a single, consolidated and cohesive environment for large-scale data manipulation, exploration, advanced analytics and artificial intelligence (AI). It provides companies such as KB Insurance with quick, accurate and reliable analytical insights. SAS also adds a layer of transparency and interpretability into AI-generated decisions, opening the black box of AI for data scientists and business users alike.