Insurance

How Analytics can Protect Insurers against Fraud?

22 Jun: How Analytics can Protect Insurers against Fraud?

What is common between Uber, Amazon, EE, Vodafone, Netflix and Progressive? All these companies have recently faced issues due to fraud. In insurance, ghost brokers often target young drivers who wants to cut the cost of their car insurance. Even though it is the ghost brokers who commit the fraud, the customers lose their cash and also risk criminal record. Fraudulent claims from customers is a much bigger concern for insurers.

Is Insurance Industry in the cusp of Technology Disruption?

15 Feb: Is Insurance Industry in the cusp of Technology Disruption?

When astronaut Barry Wilmore asked for a spanner, NASA emailed him one. Barry printed what he wanted in International space station in less than an hour using a 3D printer. This explains the power of disruptive technology, in a nutshell. In this highly competitive world where standing still means falling back, disruptive technologies gives industries and companies an edge over the others. Adoption of disruptive technologies is one among the many other business challenges that insurance industry is facing, as I have outlined in my previous blog.

How Analytics can address Insurance challenges

05 Jan: How Analytics can address Insurance challenges

If we pause to consider what made a traditional industry like insurance spend so much on technology, the challenges that insurers face come to the front. The most common challenges include: the complex nature of business, change in business approach from risk absorption to risk mitigation, data explosion, adoption of disruptive technologies and the rising number of insurance fraud. Let us see how advanced data analytics addresses these challenges.

How the Iron Man of Analytics helped Insurance town

08 Sep: How the Iron Man of Analytics helped Insurance town

Are you:

Having trouble in identifying customers who you could confidently say would buy a product from you?
Not sure whether your product pricing is competitive enough?
Finding it difficult to predict an accurate claim rate?
As an insurer, if you are thinking on the above lines, then read on, we have a solution for you!