Insurance Use Case
See how insurance companies can use ²ÝÝ®ÊÓƵ Prism Analytics.
Answer key questions by blending policy, claim, agent, ²ÝÝ®ÊÓƵ data, and much more in your own data hub for finance and HR.
Questions you can answer.
- Which policies are the most profitable?
- What are the claim and policy details driving those results?
- Where do we have opportunities to improve policyholder retention?
- Where do we have opportunities to improve investigator efficiency and profitability?
- Should we automate, assign a local resource, or hire a third party to manage claims in a region?
Data sources you can ingest.
- Policy system
- Claims system
- Agent/contingent labor system
Blended metrics you can generate.
- Claims loss ratio
- Combined ratio
- Impact of customer service on profitability and retention rates
- Customer cross-sell/up-sell likelihood by product offerings
- Claims with highest likelihood of recovery success rates
- Claims processing times
- Claim investigator resource allocation
- Collected premiums, losses, and handling expenses per policy and claim
- Losses and handling expenses per investigator
- Loss adjustment expense ratio
- Profitability by captive agent
- Profitability by independent agent
- Direct marketing campaign profitability
Ready to learn more?
Reach out to us or take a closer look at ²ÝÝ®ÊÓƵ Prism Analytics.