Disruption of seismic proportions is underway in insurance. Cutting-edge technologies catalyzing the shift have also ratcheted up the competition, pitching traditional insurers against tech-savvy startups. In our role as a technology partner, we focus on building the competencies of our insurance clients to capitalize on emerging opportunities, control risks, and develop new efficiencies.
Advanced Data Modeling
Improving risk scoring, product design, pricing, and underwriting.
Minimizing wrong payouts using advanced fraud detection models.
Aligning products with each customer’s life stage and risk appetite.
Transforming from policy-centric to people-centric experience.
Optimizing conversion through segmentation and focused campaigns.
Speeding up routine back-office processes and claims settlement.
Insurance and Data Science
The insurance industry has always relied on data and statistical models to test and validate policy decisions. But data explosion and extensive storage and computational capacity have made it possible to move to more sophisticated and high-performing data models. Data science, with its supervised and unsupervised learning approaches, has thus reset the boundaries of expertise and enhanced insurers’ risk management proficiency. Now more than ever, life and health and property and casualty insurers are primed to tackle insurance’s longstanding and emerging challenges. Applying data science, insurers can mine granular insights, improve their speed of analysis, and tackle a wider variety of problems.