The dangers posed by fraud and improper payments have intensified thanks to technological and digital advancements. Government agencies must leverage new technologies and advanced analytics to proactively anticipate and respond to threats to bolster the integrity of their programs.
In claims resolution, speed and efficiency are paramount. Just as drivers choose the optimal racing lines to put together the fastest lap during qualifying, insurers also must optimize their claims resolution process to avoid being overtaken by a competitor. Don’t be the insurer who is left in a
Predictive analytics may be the competitive edge your company needs to stay ahead. It operates ahead of the speed of business, allowing you to make more intelligent decisions for your company’s future. Read on to see seven reasons why your business should be employing predictive analytics today.
Where can customers go when they need help with their insurer? How can insurers boost customer retention? Just ask Annie Analytics. Annie has all the answers for enhancing customer retention and insurance services offerings through the application of analytics.
Existing customers are worth retaining. Organizations have the ability to cross-sell and up-sell to their existing customers, which is why these organizations must keep in mind a customer’s lifetime value.
Integrity within social governmental agencies can be a big problem in the digital age. City, state and federal agencies can lose huge sums of money to errors, waste and abuse. Analytics can go a long way in helping these agencies validate claims and minimize the potential for fraud. Having read
Christopher Morkunas, Data Governance Manager of Safety Insurance Company and this week’s Big Data & Analytics hero, says his executives were really bothered that their “company still did not have a single version of the truth” despite the fact that they have been in business for a long time,
RIMAC uses IBM Analytics and IBM Global Business Services to make more money out of the same insurance premiums, while remaining customer-centric and discovering hundreds of millions of dollars in fraud and leakage.
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Safety Insurance Company had the common problem of too many databases. There was no single version of the truth, and this led to inconsistent answers across the enterprise. With IBM solutions, the organization now has one repository for all its data and the power to use big data to fight fraud.
Financial services and banking are data-driven. Organizations in these industries store and analyze data on millions of customers, this data valued in the billions. As a consequence, they have to struggle with ever increasing volumes, velocity and variety of data. To stay ahead of competition, and