Insurance

Unleash the value of Insurance IoT and advanced analytics to drive better business decisions

As customers become more knowledgeable, their expectations grow, and insurance companies are looking to differentiate themselves by delivering great customer experiences while controlling risk. Technology innovations and the emergence of IoT are also influencing how insurers are working today, and their quest to become insight-driven.

It's all about risk control, and now, through configurable machine learning models, event processing and streaming analytics, you can uncover insights that transform the way you do business.

Leverage IoT telematics to lower costs and more accurately price policies
 
Detect fraud
 
Reduce risk with real-time risk management
 
Leverage IoT telematics to lower costs and more accurately price policies
Leverage unified data science and real-time application platform to ingest and analyze sensor data across many streams and analyze patterns in real-time to simplify and accelerate streaming telemetry ingestion and gain full business value from IoT adoption.
By collecting and analyzing data about your policyholders, you can help protect them and provide optimum personalized service. Predictive and geospatial capabilities based on Insurance Telematics can determine the personalized premium for each customer based on risk profile. Simplyfing data ingestion and running advanced analytic on the data in motion provides you with real-time information for dynamic pricing for the individual or as a base for a profile group.
For example, you can obtain real-time information about how policy holders are driving their cars, such as their speed, sharp braking, where they drive, and at what time etc. Using this information, safer drivers are rewarded with lower lowering premiums.
You can also build sophisticated algorithms to analyze driving patterns and predict the behaviors that are most likely to result in an accident. Real-time streaming analytics and machine learning leverage IOT telematics to enhance user experience and convenience features, meet government regulations and improve operational efficiency and profitability with diagnostics data for predictive analytics.
Detect Fraud
By combing predictive analytics and machine learning you can recognize increasingly complex patterns of hidden fraud.
Fraudulent claim payments can be avoided on time which reduces pay and chase situations.
Real-time Risk Management
Promote the long-term success of your business by measuring, evaluating and reporting on insurance risk metrics in real-time, delivering instant insights to empower the insight-driven organization and help you adhere and comply with regulatory requirements such as SOX, FINRA, BCI.
You can improve risk analysis with the ability to build a fast data analytics pipeline to perform aggregate risk analysis on various portfolios leveraging the combination of geo-spatial analysis, Monto-carlo simulations and advanced analytics on a cloud-native platform at high-throughput and low-latency.
Leverage efficient IoT sensor data ingestion, aggregation and advanced analytics for dynamic analysis; to come up with the right risk model; influencing personalization
A unified data science and real-time application platform can help you evaluate the risk in your portfolio by leveraging the combination of geo-spatial analysis and monto carlo simulations running directly against transactional data while leveraging low latency advanced analytics to power your insight-driven transformation.

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Insurance