Insurance companies are currently facing the challenge to continuously adapt reporting- and planning processes to both internal and regulatory requirements, as well as keeping up with competitive pressures. Changes, such as new regulatory guidelines, low interest rates, demographic change or new trends, for example, real-time processing, mobility, cloud and big data solutions, create risks as well as opportunities for existing business models.
Our extensive data management, business intelligence and business analytics experience combined with deep business process knowledge of Insurance vertical, offers a unique expertise to our insurance clients. Our data and analytics solutions help our clients accomplish the following successfully:
- Claims fraud identification. Detect and prevent both opportunistic and professional fraud throughout the claims process.
- Underwriting fraud. Prevent premium leakage at the point of sale and renewal.
- Rate evasion. Spot rate evasion tactics during the quote process – before you issue a policy
- Analyze and reduce claims processing cost
- Accurate Regulatory and Compliance reporting in a timely manner
- Analytics for Actuaries so that they can design products suiting to needs in different geographic locations and industry verticals
- Financial analytics
- Risk/Price segmentation
- Policy, Revenue/Policy analytics
- Customer analytics including precise client segmentation and analysis
- Transform customer experience – Learn, Improve, and predict effectively the next interaction with customers