Guide to Advanced Analytics for Insurance
Claim Analytics involve insights of Claim Processing. Track Real-Time Claim Processing to improve customer satisfaction. Claim Scoring improves assignment and management of claims. Claim Data Processing promotes loss recovery, shortening of the claim cycle. Implementation of analytics to claim cycle yields in Return On Investment (ROI) with cost savings.
Real-Time Claim Processing Applications involve –
- Renewals Tracking
- Identify Fraudulent and Useful Data
- Data Mining
- Claim Forecasting
- Fraud Analytics
- Recovery Optimization
- HealthCare Insurance Claims
- Claim Analytics
- Social Network Analytics
- Public Sector Analysis
- Data Integration and Business Insights
- Predictive Analytics
How to build Power Analytics in everyday Decision-Making? Auto Insurance is the key.
Auto Insurance Analytics has evolved
- Connected Homes such as fire alarms, smoke detection etc. for remote safety.
- Connected Vehicles to prevent mishap and accidents as well as Usage Based Insurance.
- Connected Wearables to promote Healthcare Insurance and maintain fitness.
Insurance Analytics Real-Time Applications
- Risk Assessment
- Smarter Finance
- Customer- Centric
- IoT implementation
- Real-Time Trigger Based Analytics
- Hidden Revenue Opportunities