Business Analytics: Insights from the Insurance Sector
How does your insurance organization rate when it comes to business analytics? Are you still trying to get your data house in order, or are you a leader amongst your peers using predictive analytics for risk selection and fraud detection? Regardless of your position, the demand for enabling the rich data assets continues to grow. Whether through improving the customer experience, gaining insight into performance management, or through better compliance and risk management – smarter, faster decisions at every level of the organization are necessary to complete in today’s market.
A good place to start is in the rivers of data you’re creating every day as you assess risk, underwrite policies and manage claims. With the right analytics approach, you can be better prepared to squeeze a lot more value from existing data in terms of fraud detection, producer segmentation, claims management, service preferences and buying habits – and to improve customer experience at the same time. Too many companies collect the same information multiple times during the sales and service lifecycle. That’s no way to treat customers.
We believe a deep, integrated approach to business analytics in insurance is a smart way to create more value. It’s also our specialty. We have a wide range of insurance-specific experiences resulting from the services we have provided in support of numerous organizations in their efforts to make analytics work harder across their business – predictive analytics, customer transformation, salesforce effectiveness, distribution strategy, underwriting and claims excellence. Our services are designed to support a whole-business approach; one that we believe sets us apart.
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