Insurance analytics solution is a wide-ranging “performance management” solution that is specifically developed for the senior level officers or senior management of the insurance companies, that covers all the major areas of this industry.
This solution comprises the insurance specific enterprise data warehouse and business intelligence suit, incorpor
ated and integrated suite of various components like dashboards, analysis, reporting management and data mining with advance analytics.
Insurance Analytics and new Dimension:
This is an out of the box management solution that provide complete reporting spectrum of the insurance business such as marketing, sales, claims, underwriting, finance and much more of the field related issues. This solution offers a vast repository of specified dashboards and key performance indicator, and other metrics that runs into several hundreds.
This insurance analytics solutions provide dashboard that enables the lead team a bird’s eye-view of all the key functions and mission critical aspects of the insurance business. Management dashboard broadly covers the key functional areas and has the ability to showcase a tactical scenarios of the business which can assist the strategy decision across the business functionalities.
Claims management are the single and largest cost center for the insurers with and average pay out of 60-80% of the other premium earned. Most of the insurance companies are attempting to improve customer satisfaction while continuing to contain costs and expenses. Insurance analytics solution provide head claim spectrum of information required to monitor claim activity and effective management.
Underwriting is based on analytic solution that claim experience by providing different portfolios and segments which relates to the premium and exposure.Each of the insured product is underwritten by a company and maintain its own characteristics of risk, and to determine the insurance pricing much accurately, underwriters need to analyze the claim experiences for each product according to its specified risk parameters.
Alrasmyat provide insurance analytics solution in saudi arabia which is complete solution to any of the insurance company that want to increase your business productivity and want to manage business efficiently. It contain administration of policies, claims, billings, and much more that need to better administer the company.