AI-Powered Data Analytics in Insurance Industry.
The Goldmine for Insurers.
Data Analytics in Insurance for life and non-life businesses.
RUSA Analytics Insurance Analytics is a complete solution for life and non-life insurance companies' enterprise-wide BI & analytics needs. The answer is based on a user's specific role and satisfies the demand for business insights at all levels across all divisions of an insurance company.
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Our pre-built life and non-life data models, extractors, KPIs, dashboards, reports, and queries make it possible for IA to be a pre-built solution with a 4-week delivery guarantee. The data model is based on the ACORD principle, a business standard. The solution includes 10 predictive models, 150+ KPIs, 25 dashboards, 7 modules, and 24 sub-modules.
Modular Proposition
The modular design of the solution ensures coverage of specific sub-functional areas within the Insurance business. The below content depicts the IA modules and the value proposition of each of the modules
Operations
Improves policy issuance TAT by improving operational efficiency
Finance
Improves profitability from premium income by analyzing Value of New Business (VoNB) from each product line
Sales & Distribution
Improves new business, Renewals & Agent’s productivity thro’ effective management of distribution channel
Marketing
Significant improvements in ROI from marketing campaign & sales contest
Claim
Reduce loss ratio by identifying claim ratio of risky segments.
Actuarial
Improves product level profitability thro’ experience study of lapse, surrender, mortality, morbidity
Traditional Insurance vs. Insurance Data Analytics
There is a large difference between the insurance process carried out using data analytics and the process done manually using traditional digital technologies.