Analytics for Insurance

Need to understand your best customers? Need to grow sales or stop defections? Or better manage the sales channel or team, or pricing? Understand loss ratios? Or just get on top of a worrying trend? Or even identify the trend? Adverse selection? Need to get started fast?

If you want "answers" more than you want an "analytics project" then consider our extensive insurance industry experience in advanced analytics. We know how to take your raw data, sometimes messy transaction data and we use our proven industry data models, tools, analytic models, and services, and work with your team to give you several things:

  • Insurance-specific analytic output, and key insights, often provided in drill down visualization tools and charts, where you can work with the new data and customized analysis yourself; 
  • an evolving set of customized insurance-specific dashboards, tailored to your specific needs;
  • predictive and integrated analytics in support of key areas such as claims, channel management, sales, pricing, and new product development
  • a practical view of what can be done fast, and how to get at the information that will really help insurance business decisions; 
  • a roadmap to getting insurance analytics working for you;
  • FAST, cost effective results

For most firms, the first questions that insurance analytics should answer are in one of several categories:

  1. Data Mastery, Deep Inspection and Slice-and-Dice: Broker Performance, loss ratios and profit by location, product line, client and other slices, best market opportunities, risk maps, etc.,  
  2. Predictive Modeling, Forecasting & Simulation: Pricing, adverse selection, best clients, risk prevalence, re-insurance optimization, etc. Go here to see our take on predictive analytics
  3. Integrated Analytics:  Online interactive quoting, integrated credit scoring, and many other value add, integrated data sources.

Finally, because it is an integrated technology platform and service, the annual costs are quite modest - that scale closely to the size of your business - and generally costs much less, and creates more business value than you could do yourself, in both short and long term. 

See the introductory video here. Or consider some of the early benefits you can get from Analytics in Days.

Our contact us to learn a bit more about our offer.