Insurance <\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Data analytics creates new possibilities that can empower insurers to optimize every function in the insurance value chain with the help of data-driven decision making.<\/p>

AI in insurance utilizes behaviour-based analytics and credit scores to determine which of the customers are bound to pay their bills on time.<\/p>

It can also detect fraudulent activities and hence using data for determining the right and trustworthy customers is shaping the digital transformation of insurance companies.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Big Data makes the insurance industry perfect for data analytics to construct basic patterns, get fundamental insights about the insurance business and manage the complex relations between agents and clients.<\/p>

The top use cases where data analytics can help insurers are<\/strong>
\u00a0 – To develop an enhanced customer experience
–\u00a0 Design products based on customer behaviour
–\u00a0 To improve Risk Management Strategy
–\u00a0 Minimize the risk of insurance fraud<\/p>

\u00a0<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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<\/figure>

Insurance Pricing<\/h3>

Models based on comparing cost Vs risk can help customers in selecting the right insurer<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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<\/figure>

Claim Payment Automation Modelling <\/h3>

Build robust pricing models using the predicted developed loss for each claim<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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<\/figure>

Claim Development Modelling<\/h3>

Automatic predictive model to determine the final value of the claim amount<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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AI in Retail<\/h3>

Insurance companies who invest in big data analytics have seen 30% more efficiency, 40-70% cost savings thus benefiting both the customer and the insurer.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Take the next step<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Our data experts run a series of consultations with your organisation to help understand your existing data processes and requirements. They translate the task into a concrete problem, figure out which data analysis services will be best suited to solve your problem and then form a comprehensive strategy to give a perfect solution to the task at hand.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\tGet Started Now!<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Insurance Data analytics creates new possibilities that can empower insurers to optimize every function in the insurance value chain with the help of data-driven decision making. AI in insurance utilizes behaviour-based analytics and credit scores to determine which of the customers are bound to pay their bills on time. It can also detect fraudulent activities…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kad_post_transparent":"","_kad_post_title":"hide","_kad_post_layout":"fullwidth","_kad_post_sidebar_id":"","_kad_post_content_style":"unboxed","_kad_post_vertical_padding":"hide","_kad_post_feature":"hide","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false},"_links":{"self":[{"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/pages\/1522"}],"collection":[{"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/comments?post=1522"}],"version-history":[{"count":79,"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/pages\/1522\/revisions"}],"predecessor-version":[{"id":2478,"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/pages\/1522\/revisions\/2478"}],"wp:attachment":[{"href":"https:\/\/d2pranalytics.com\/wp-json\/wp\/v2\/media?parent=1522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}