Drive Digital Transformation for Insurance Industry
Improve profitability, optimize costs, and increase customer loyalty with our Insurance Analytics Services & much more
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Your first step in a digital-first enterprise transformation
Existing in a complex regulatory environment Insurance companies are facing tough competition from existing and newly created Insurtech companies. As such, they have started leveraging data to manage risk, automate functions, create more opportunities, and react faster to the needs of the market with the help of Self-service enterprise-grade Analytics solutions.
Partnering with Analytics Depot Solutions has helped our insurance clients to create effective customer engagement strategies and big data utilization. With Predictive Analytics and Data Analytics in Insurance industry, we have helped organizations integrate with some of the capabilities including
To understand the end-to-end process of Insurance and identify the Key Parameters for strategy, operations, underwriting, claims, digital experience, and much more
- Streamline Data Sourcing
- Effective Data Management
- Granular Data Drill-down
- Persona-based Interactive Dashboard creation
- Performance Analytics for multiple channels & transaction analysis
- Advanced Data Visualization
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Enable Digital solutions to acquire new customers and work on retention strategies for existing customers. Build deeper engagement & relationships with policyholders.
- Segment-based retention strategies
- Acquisition and Churn Analysis
- Loyalty Program Management
- Personalized Solution offerings
- Customer Engagement & Relationship Management
- Payment Analytics
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Use Statistical and analytical techniques to identify patterns to develop patterns to streamline operations and have faster processes to enable better communication
- Claims Prediction
- Underwriting & Actuarial Analytics and review
- Automated Claims experience
- Advanced Text Mining and Attribute Analysis
- Data extraction with Rest API for reporting and auditing
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Proactively identify issues and take corrective actions in time with Data Management and Predictive Analytics to improve Fraud detection in claims in Insurance sector
- Create Variables for comparison with past data
- Fraud Detection & Loss Detection
- Anti-Money Laundering (AML) Analysis
- Incident Management & Claims Analysis
- Credit Risk and Exposure Analysis
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Leverage our Services to solve Insurance sector challenges
Analytics Depot Solutions’ Digital Solutions involve Predictive Analytics in the Insurance Sector and to provide transformative solutions with Cloud, ML, Process Automation, and Big Data. Combine our Industry and Technical expertise to solve iss
Some of the major use cases of predictive data analytics in the Insurance sector are with detection of fraudulent claims, personalization of marketing strategies based on segmentation to help target specific user groups, Claims prediction, risk analytics, churn prevention, etc. In essence with data analytics in insurance, companies can accurately monitor and be proactive in their decision-making approach.
An Insurance Ecosystem deals with a lot of levels of Channels, Zones, Agents, etc. making it a consolidated view of data complicated to have real-time. But financial planning with spreadsheets limits the capabilities of the organization to have real-time decision making. With effective Data Management and streamlined reporting KPIs can be monitored effectively.
MDM or Master Data Management comprises High-quality knowledge of Data transformation, Data Cleansing, and Data integration practices. With Effective Big Data Management and MDM insurance companies can avoid Information Inconsistency across Domains and Value chains. This can also help with the secured addition of data into existing models
Our Services For Insurance Industry
Visualize and streamline Dashboarding, Reporting, and Analysis of KPIs like Agent Productivity, Channel Sales, Branch Revenue, etc. and help drill down on the areas to work on for effective decision-making in real-time
Our comprehensive IT services for the Insurance Sector include Managed Services, IT Outsourcing, Infrastructure, and Support. With our Data Lake and Data Warehousing services, we help you choose the best for your organization.
Our experience in Insurance Data Analytics helps identify patterns in the user data to find business opportunities, mitigate risk, cross-sell and upsell, retain customers, and drive revenue by analyzing existing data and providing actionable metrics from them
Implement network planning, branch management, workforce planning, and much more, from a Single platform with Scenario Analysis. This will help stakeholders to tie operational signals across the enterprise to form a responsive strategy.
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