Analytics in Insurance is tricky because of the huge volume of data that is generated in real time that directly impacts the business. Ideal-Analytics with it's vast features are redefining the way in which business problem specific products are used by the stakeholders, so that over a period of time analytics in insurance becomes a part of the "business as usual" and not an activity restricted for a select group. Advanced statistical concepts and deep industry knowledge are the bedrock of our models.
By seeing the large volume of data we have analyzed and give the ROI as follows:
- Tentative collection increase
- Expected yield in decision service level can increase @ 30 days.
- Expected yield in collection service level can increase @ 30 days.
- Improved effectiveness in policy decision status.
- Lowered cost of renewal campaigns.
- Increased organization awareness of factors affecting renewability for different customer segments.
- Automation of MI-Reporting system.