By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics in sports industry
    Here’s How Data Analytics In Sports Is Changing The Game
    6 Min Read
    data analytics on nursing career
    Advances in Data Analytics Are Rapidly Transforming Nursing
    8 Min Read
    data analytics reveals the benefits of MBA
    Data Analytics Technology Proves Benefits of an MBA
    9 Min Read
    data-driven image seo
    Data Analytics Helps Marketers Substantially Boost Image SEO
    8 Min Read
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Here’s what different in next generation warranty systems
Share
Notification Show More
Latest News
data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security
ai in software development
3 AI-Based Strategies to Develop Software in Uncertain Times
Software
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > CRM > Here’s what different in next generation warranty systems
Business IntelligenceCRMData MiningPredictive Analytics

Here’s what different in next generation warranty systems

JamesTaylor
Last updated: 2009/03/05 at 11:33 PM
JamesTaylor
5 Min Read
SHARE

Copyright © 2009 James Taylor. Visit the original article at Here’s what different in next generation warranty systems.Continuing some posts on next generation warranty systems in the build up to speaking at the Warranty Chain management conference I thought I would contrast how current generation warranty systems handle critical decisions with how next generation systems […]


Copyright © 2009 James Taylor. Visit the original article at Here’s what different in next generation warranty systems.

Continuing some posts on next generation warranty systems in the build up to speaking at the Warranty Chain management conference I thought I would contrast how current generation warranty systems handle critical decisions with how next generation systems do so.

DecisionTodayNext Generation
Is Claim Valid?Data validation rules are coded into the user interface that captures claims. Any changes in rules have to be routed to IT.The validation rules for the large number of parameters and multiple warranties are managed by business owners based on published warranty terms and conditions. Changes are made by those who understand the rules.
Is Claim Approved?Relatively few claims are auto-adjudicated, most are routed to representatives. Only simple approvals are handled and these are hard to change.90% or more of claims are automatically approved and the remainder is routed to a representative. The rules are managed by warranty experts and come from a large range of sources (parent company, regulations, policies, offers, recalls) to ensure completeness
Route ClaimSimple routing rules can be defined as part of the workflow to, for instance, route claims related to certain parts to certain experts.Claims are intelligently routed to one of the many potential agents or representatives who could review them. Some specialize in particular kinds of claims; others might cover a particular region. Managers constantly update these rules to manage workloads and skill sets.
Risk of Fraud?Either no checking is done at this decision point or it Is both simplistic and deterministic, such as refusing claims from known fraudsters.Every claim is assessed to see if the risk for that claim is high enough to route for review. An analytic risk score is combined with the value of the customer and the value of the claim. Analytics enhance the rules to catch more potential fraud and manage risk.
Define RecoveryRecovery is handled manually for all but the simplest situations, with policy manuals and contracts being used to drive actions.The rules for this can be very complex as, for instance, a claim for a part made by a third party but installed in the original product might go back to the manufacturer where a second claim for the same part goes to the third-party who manufactured the part. Contract experts manage the rules so all claims are recovered appropriately.
Accounting and ReservingSimilarly to recovery, this step is a largely manual one. Reserving is manual and conducted no more than quarterly.The rules for accounting change constantly as distributors and accounts change, each with their own rules. These rules are managed by those who own the accounts ensuring they stay up to date. Reserving becomes a precise exercise driven by actual transactions rather than an exercise in averages and reserves are updated more often.
Define Service ResponseService requests are allocated using geographic or workload rules coded into the system.Performance-based assignment is integrated with contractual and best practice rules to maximize the effectiveness of service responses.
Allow Part Return?Simple return rules are coded into the system but most returns are manually assessed.All aspects of part return are considered and automated so that the vast majority of returns can be handled without manual intervention.

Of course, to do this requires the classic decision management combination of business rules management and data mining/predictive analytics applied to operational decisions. For an overview of this, check out the white paper I wrote for the conference at decisionmanagementsolutions.com/warranty

More Read

ai in ppc advertising

5 Proven Tips for Utilizing AI with PPC Advertising in 2023

5 Ways AI Technology Has Disrupted Website Development
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
10 Ways How Artificial Intelligence Is Changing the Content Writing Landscape
How IoT Can Be Connected to Business Intelligence


Link to original post

JamesTaylor March 5, 2009
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

ai in ppc advertising
Artificial Intelligence

5 Proven Tips for Utilizing AI with PPC Advertising in 2023

10 Min Read
ai in web design
Artificial Intelligence

5 Ways AI Technology Has Disrupted Website Development

7 Min Read
Digital Security From Weaponized AI
Security

Fortifying Enterprise Digital Security Against Hackers Weaponizing AI

11 Min Read
AI-powered content writing tools
Artificial Intelligence

10 Ways How Artificial Intelligence Is Changing the Content Writing Landscape

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?