TEOCO’s assurance and analytics solutions, powered by IBM PureData System for Analytics, powered by Netezza technology, enable CSPs to access and analyze massive amounts of data to uncover the source of cost and network issues.
Optimize Operations and Reduce Fraud
Santam wanted to find a way to improve its service to customers by settling claims faster and keeping premiums low.
To achieve this, the company needed to maximize operational efficiency and find smarter ways to combat fraud.
Santam worked with Olrac SPSolutions, an IBM Business Partner, to design a claims segmentation solution based on IBM SPSS® predictive analytics software.
Senior leaders at Westfield Insurance realized that future success depended on gaining a better understanding of the performance of its business and its network of agents. However, driving a more analytical approach to decision-making would require not only new technology, but also significant cultural change.
Westfield began its analytics transformation by creating an Analytics Resource Center (ARC) and building a powerful data warehousing and analytics platform under the sponsorship of its CEO. With the help of IBM® Global Business Services®, the ARC team worked with the IT team and internal business partners to develop a range of new analytics applications.
What the Miami-Dade Police Department is doing with advanced analytics to close the toughest robbery cases is one facet of a broader Smarter Cities strategy followed by Florida’s largest county.
Today, two major factors are poised to change the insurance industry in a way it hasn’t seen in more than 50 years—emerging capabilities enabled by cognitive computing and big data, and an empowered consumer. We are starting to get a glimpse of the possibilities these trends hold, as well as the challenges they represent. To understand their full impact on the future of the insurance industry, we need to look at the past to understand how paradigm shifts in the insurance industry follow paradigm shifts in the underlying computing technology. If history is any indication, these technologies will usher in a new paradigm for the insurance industry.