But recently some insurers have adopted the advanced techniques in predictive analytics to increase profitability and competitive position. Actuarial departments are using it for building innovative pricing models, risk selection and reserving. Underwriting, Marketing and Claims departments are also using it to develop insurance scores, effectively manage all aspects of risk, forecast Probable Maximum Loss (PML), cross sell, customer retention, decision automation, subrogation optimization and a variety of other purposes.
Our services include implementing robust platforms for data integration, storage, business intelligence and analytics, insurance-industry specific data models, analytic models and streamlined processes. |
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