Insurance

With a wealth of data: customer data, claims data, actuarial data, financial data and risk data, harnessing its true power has become a top priority for insurers.

As insurers strive to create a more engaging customer journey, drive collaboration between departments and move to increased automation – analytics is the key enabler. It’s now not a 'nice-to-have', but rather a competitive differentiator.

Whether it’s predictive analytics, propensity models or customer analytics, the trick now is turning that wealth of data into real business insights and actions.

As an insurance company you will be able to explore how to:

• Sharpen your pricing capabilities: Use multiple data sources to analyse risk and generate dynamic, granular pricing in real-time
• Deploy analytics and insights to target customers more effectively and improve the customer journey
• Win big with claims analytics: How to route claims efficiently to reduce costs
• Drive operational effectiveness and collaboration through analytics – Feed claims data into pricing to gain a competitive edge
• Set up the integrated infrastructure required to overcome silos and deliver maximum value from all your internal data
• Minimise fraud by exploiting link analysis, propensity models, text mining and predictive analytics

When it comes to handling and processing data, insurance companies have typically relied upon data warehousing or point data solutions, which may have served them well for pricing, operational MI and compliance, but the explosion of data available to the insurer equals more cost not only to store the data but also to mine the data to discover the “golden nugget” of information........to find out more about how to utilize the available data more efficiently, you may contact us by email at info@eCfatum.com or yobyob@gmail.com or Tel 07508 188212