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Leading Insurance Analytics and Digital Solutions Provider

Enabling Insurance Fraud Detection Using Big Data Analytics

Industries

Digital Insurance as a Service

Insurance Sector comprises of Risk Management and guarantees payment in case of uncertain future event occurrence. They are formed by two critical factors, i.e., Functional and Contractual. Life and General are two types of Insurance. Due to digitization, Insurance companies have started using software tools to achieve business targets and ensuring the security of economic value, delivery mechanism, promotional campaigns, direct and group selling, customer’s money investment called as a float.

  • Fraud Detection and Threat Mapping
  • Collect Information and Gain Customer Insights
  • Claim and LifeTime Value Prediction
  • Price Optimisation
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Insurance Offerings

Machine Learning Solutions for Insurance

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Fraud Detection and Threat Mapping

To track past claims, fake data, and users. After fraud detection , automatic halts the claim processing and initiates user's investigation. Informing policy information and detecting fraud through suspicious links, fraudulent activities, behavior pattern analysis, and premium policies. Predictive Modelling to filter fraud instances.

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Collect Information and Gain Customer Insights

Calculation of risks, gathering actionable insights, providing health care and life insurance. Smart devices to collect information regarding past driving records as well as health to predict illness or accidents. Store, access and analyze users information and past policies taken ensuring better customer experience through media interactions.

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Claim and LifeTime Value Prediction

Competitive premiums to improve pricing models. Accurate predictions using various predictive models involving Data Processing Stream , Segmentation Model, Churn Prediction Model. Analyze Customer Behaviour Data to increase profitability, strategy development and maintenance of policies through forecasting and predictions.

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Customer Segmentation

Profiling customer based on similar demand characteristics using Demographic, Insurance Policy and Financial Data. Classification of customers by behavior, identity, recommendations. Finds best-fitted policy and builds trust relationships with users leading to upselling and cross-selling of products.

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Price Optimisation

Analyze historical data to predict future premium rate using advanced Machine Learning and AI techniques to increase profitability. Cloud Machine Learning Engine to predict accuracy and raise the immense business value. Numerous algorithms to compare previous policies and consider customers price sensitivity.


Digital Transformation Services

Accelerate your Organization’s growth with our leading Digital Transformation Services

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DevOps Services
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Big Data Services
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Cloud Services
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Data Analytics Services
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Data Visualization Services
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ML and DL Services

Case Studies

Insurance Use Cases

Get in Touch with us for Proof of Concept and Data Visualization Consulting Services. XenonStack Data Visualization Services and Infographics Services provide you interactive products to visually communicate your data. Bring your data to life with our Real-Time Data Visualization dashboards. Keep your cards close to your chest with interactive interfaces backed by Data Analytics.

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