Analytics in insurance
The road to profitability in the insurance industry lies in better decision making.
For insurance companies, volumes of data and content related to customers, policies, claims and other processes are increasing. But most decision makers report that they do not have timely access to the information and insight they need to guide their decisions. Answering these key questions has become critical in today’s fiercely competitive world of insurance. With IBM Analytics solutions, insurers can uncover the strategic insights hidden within the data.
Create a customer-focused enterprise
Increase flexibility and streamline operations
Optimize multichannel interactions
Security First Insurance builds a bridge between social media posts and the claims process to help ensure timely response to policyholders, even in the aftermath of natural disasters.
Blue Cross Blue Shield of North Carolina integrated and consolidated member data into a single source of truth that provides customers and business users with access to the information they need at a lower cost.
Infinity Property & Casualty used predictive analytics to identify fraudulent claims, better identify subrogation potential, and improve right-tracking of claims to speed claim handling.
Swiss Re deployed a sotluion that performs data analysis and reporting from a central location, and speeds report generation by 70 percent with faster response to individual analytic queries.
Primerica worked with IBM to enhance their "Primerica Online" portal, enabling insurance representatives to actively drill down into deep volumes of critical business information.
Optimize enterprise risk management
Guarantee Fund dramatically reduced insurance fraud with a comprehensive, accurate view of insurance throughout the country, and used predictive analytics to calculate fair insurance premiums.
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