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Technology Driven Insurance Data Analytics

Data analysis driven by InsurTech is blossoming the growth of insurers in the atmosphere of uncertainty. Read more to follow how! Click Here: https://datafloq.com/read/technology-driven-insurance-data-analytics/8081

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Technology Driven Insurance Data Analytics

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  1. Technology Driven Insurance Data Analytics

  2. Introduction • Insurance Data Analytics • Fraud Detection • Risk Management • Lead Management • Trend Analysis • Conclusion 1 2 Table of Contents 3

  3. Introduction • The nature of the Insurance industry being data-centric, insurers abide by the policy of keeping data as a treasure for their respective growth. • This data can only be turned into a gold mine of Insurance Data Analyticsby in-depth analysis. • The Insurance Industry has started relying on the new-gen technology to deep dive into data – Big data and unstructured data – to pull out the best insights useful for them. Let’s See How!

  4. Fraud Detection The new-gen technologies are capable of following up the claims management Managing the losses from detecting frauds With quick response to customers on track

  5. Risk Management Automation of Insurance Software putting use of the AI and ML assure an adequate amount of accuracy with time-saving solutions. • Customer’s personal data to public records and on social media provides insights • Data Trends helps in calculating the insurance premiums

  6. Lead Management Helps to track the best possible experience for prospects With the weapon of AI-powered data analytics, Insurance Software Facilitates better up-selling and cross-selling for insurers

  7. Trend Analysis InsurTech ensures data is used in the right way as P&C, Life, Health and Pensions module is grouped and re-grouped to provide meaningful analytics for the end-user • Technology uses data in graphical and infographic manner to provide quick and meaningful insights Insurance Software loops in regulatory reports, operational reports and analytical submissions derived from the system data

  8. Conclusion • Technology is acting as a life support system to insurance businesses by extracting the data insightsand analyzing adequate measures of risk selection, trends analysis, marketing strategies, claims processing and pricing strategies

  9. THANK YOU READ MORE CLICK HERE

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