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IA +

How is your Underwriting Team performing?

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Now this is a million dollar question!  The underwriter’s performance determines the premium coverage that you get and hence determines the business profitability. It’s a fine balance so that you don’t overprice your premiums and become unattractive and at the same time do not underprice and expose yourself to risk. While underwriting quality is important, productivity is also of critical importance. Superior productivity would mean shorter TAT, faster policy issuance and hence increased customer satisfaction. GrayMatter’s Insurance Analytics (IA+) solution...
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Growing Frontiers in Insurance Business

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Insurance business is growing at a very fast pace in Asia and is expected to increase even further over the next decade. This could be further driven by tapping relatively uncharted territory like insurance for infrastructure projects including Construction and Erection All Risks (CEAR/CAR), Engineering Procurement Construction and Commissioning (EPCC), Delay in Start Up (DSU), Third Party Liability (TPL), Contractor’s Plant and Equipment (CPE), Workmen’s Compensation, Professional Indemnity, Employer’s Liability, Environment Impairment Liability, Business Interruption, Mechanical or Electrical Failure etc....
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Predictive Analytics for Insurance Company

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The application of Predictive Analytics for Insurance Company is for the core insurance functions of marketing, underwriting and claims can provide meaningful benefits to insurers. The greater availability of data, technological advances, and pressure to maintain competitive advantage has seen insurers leverage predictive analytics to make informed decisions. Marketing Analytics: Increasing Hit and Retention Ratio Predictive Analytics for Insurance Company can be used to market insurance products and services more efficiently. Let’s examine this from the context of a hit...
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How to use big data analytics to streamline operations? – Big Data Analytics in Insurance

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Big Data Analytics in Insurance – Despite many opportunities to capitalise on analytics, insurers lag behind other, more tech-savvy organisations. This however leaves a huge opportunity for insurers to learn from companies further down the road, but the difficulty lies in connecting with other industries to gain insight into their analytics capabilities. That is why Insurance Analytics Europe Conference (5-6 October, London) is uniting insurers with key players from e-commerce, mobile, and media to share experiences. Put simply, there is...
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Motor Insurance Pricing Strategy using Advanced Analytics

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Today insurance companies are attempting to improve the bottom-line by containing cost which has very limited scope. While continuing driving the cost insurer must focus on innovative product pricing which is more market driven than the regulator. Some of the product segments are highly price sensitive, especially motor segment; profits are eroding and it has become practically unsustainable business if not for the size. However, with the ‘internet of everything’ and ‘social media’, insurance players can look at innovative pricing...
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Analytics in Insurance Industry – Out-of-box Solution

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Insurance Analytics (IA+) is out-of-box “Management Reporting Solution” which covers complete spectrum of Analytics in Insurance business such as Sales & Distribution Analytics, Marketing, Claims Analytics, Operation, Underwriting Analytics, Finance and Actuarial. The data analytics in insurance Industry offers vast repository of KPI’s and metrics for various roles and responsibilities – running into several hundreds. The Insurance Data Analytics solution come with pre-built dashboard and management reports for all department heads. This Insurance Data Analytics is a role-based analytics application is designed to...
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