Microsoft Scenario Library Financial Services Insurance – Create a quote

Available with: Microsoft 365 Copilot and Copilot Studio

Financial Services scenario: Insurance – Create a quote

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Scenario

For Insurance access knowledge repositories and craft communications to quickly create a quote

1. Summarize and prioritize emails

Insurance underwriters receive large amounts of emails. Responding quickly to critical issues and requests for quotes helps improve customer satisfaction and can increase revenue.

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Microsoft 365 Copilot Chat2

Benefit: Summarize and prioritize emails received that require attention and look deeper into the emails that are most urgent.

One of the emails is a request for a quote for a new commercial real estate property and requires a risk assessment of the property across key risk dimensions.

Copilot Studio icon

Copilot Studio Agent

Benefit: Run a risk assessment using in house risk assessment and insights tool to summarize the insurers risk on the property address in the email and summarize the risk within Copilot.

In addition to gathering property risk, the underwriter also provides customer information and history including other policies, history of compliance, fraudulent claims, etc.

Copilot Studio icon

Copilot Studio Agent

Benefit: Copilot provides a historical summary of the customer by extracting the customer’s name from original email, sending to insurance history app, and providing a summary of existing properties for review.

Understand what the replacement cost would be for the building based on parameters such as location, age, floor space, etc.

Copilot Studio icon

Copilot Studio Agent

Benefit: Create estimate for replacement costs in Copilot using the insurance company’s estimator app for building quotes and historical estimates.

Summarize the information collected from each system for the property to create a risk assessment analysis and recommended quote.

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Copilot in Outlook

Benefit: Use Copilot to summarize and draft an email response including background information and justification for the decision.

KPIs

Opportunity to impact key functional area KPIs

Generate insights and content within the everyday flow of work, expedite investigations, and communicate more effectively to prevent and remediate compliance issues.
Speed data analysis and reporting
  • Quickly analyze trends
  • Generate informative charts
  • Create strategy presentations

Improve productivity by leveraging automation to quickly prioritize and accomplish daily tasks, optimize processes, and save time and effort on daily tasks.
Boost productivity
  • Rapidly research customer interactions
  • Create first drafts faster
  • Check for similar issues and resolutions
  • Quickly send follow-up communications

Differentiate customer interactions from competitors to help increase market share; Reduce the time for comprehensive portfolio evaluation with change recommendations reflecting market dynamics; Build trust and confidence among clients leading to increased number of active investors. 
Improve customer meetings
  • Research company information
  • Learn how to pitch the product
  • Organize information from past interactions
  • Completely focus during the meeting

Streamline operations for faster resolution of customer issues, providing tools for decision-making and strategy development. This can lead to higher customer satisfaction, increased customer lifetime value, and maximized customer investment portfolio.
Improve customer satisfaction
  • Diagnose a problem quickly using
    external and internal databases
  • Automated analysis using customer data and knowledge base
  • Quicker and more accurate draft responses
    based on historical resolution data
  • Proactive and personalized follow-up communications

The content in this example scenario is for demonstration purposes only. You should evaluate how Copilot aligns with your organization’s business processes, regulatory requirements, and responsible AI principles.