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Predictive Analytics for Insurance

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 in Insurance Industry

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The application of Predictive Analytics in Insurance to 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: Increasing Hit and Retention Ratio Predictive Analytics in Insurance Industry can be used to market insurance products and services more efficiently. Let’s examine this from the context of a hit ratio, a...
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