Corporate Technologies has been delivering Business Intelligence to insurance companies for nearly two decades.
Business Intelligence provides Insurers with valuable information to better analyze and manage risk, improve customer service levels, maintain regulatory compliance, and develop new products and services.
We develop BI solutions that provide the information our insurance customers need to make better more informed decisions in key business areas including:
- Claims Management Intelligence: Gain insight and visibility on the cost of claims; analyze claims breakdown by age, status, loss codes, and region. Analyze reserve metrics, reserve adequacy ratio, and average reserves. Monitor expense metrics, average expense amount, total expense payments, and ratio of expenses paid to total incurred and implement measures to effectively contain costs and control claims reserves.
- Fraud Detection Intelligence: Identify fraudulent patterns and use historical data to uncover past fraud cases. Improve cost saving with more efficient and effective fraud detection. Review suspicious claims, identify fraudulent claims pre-payment, and reduce claims legal costs.
- Operational Intelligence: Analyze real-time information on hold times, call volumes, call handle times, service levels and repeat call rates to streamline operations and set appropriate staffing levels. Analyze and improve customer service by placing the right number of agents and assets by geography.
- Sales and Marketing Intelligence: Proactively manage business produced by brokers, producers, and retail agents at program level and by line of business and demographics. Target marketing activities to optimize marketing effectiveness, customer acquisition, cross and up-selling and retention programs. Analyze consumer behaviors and buying patterns to create new products and services that help sales teams meet revenue goals.