CTI’s predictive models for insurance industry analytics, key performance indicators and industry-specific dashboards make implementing behavior-based segmentation efficient, accurate and precise. You can optimize every customer touch point to enhance both customer satisfaction and your bottom line.
Predictive analytics can analyze a few years of past claims data, as well as other records to predict how expensive a client is likely to be in the future. Predictive analytics can help underwrite these quantities by predicting the chances of illness, bankruptcy, default, and so on. Predictive analytics can also reduce the amount of time it takes for the approval of coverage. Well-designed predictive analytics can lead to proper pricing decisions, which can then help mitigate future risks.
Financial and Operational Dashboards
Collect, monitor and analyze operational profit/loss through any number of financial metrics including staffing levels, transaction volumes, products sold, complaints, refunds and error corrections. Comply with industry regulatory requirements.
Portfolio Reporting and Analytics
Evaluate and analyze products and services portfolio to existing and new customers. Gain deeper insight into portfolio risks, exposure and overall profit margins. Maintain and monitor customer actions and life events that impact purchase/sale of financial assets.
Risk and Fraud Analytics
Monitor, evaluate and understand loss impact from internal risk exposure resulting from employees, inadequate systems, or failed processes. Better understand, identify and manage customer exposure levels through analysis of purchasing trends, account activity and events to identify mistakes, credits risks and possible identify theft.
Sales and Marketing Analysis
Get the big picture and supporting details to identify behaviors, buying trends and preferences of important profitable customers. Analyze product sales, revenue levels, and customer segments to develop targeted marketing campaigns, promotional pricing and new products and services to acquire new clients and cross-sell into customer base.