Combating Insurance Claims Fraud: How to recognize and reduce opportunistic and organized claims fraud [ Source: SAS ]
September 2009- Many insurers still believe that it is too expensive to detect fraud, and they simply accept a certain amount of fraud loss as a standard cost of doing business. With the increased focus on customer satisfaction, insurers also are understandably reluctant to stall claims processing to investigate a hunch – or worse, to mistakenly target a legitimate claim and an honest policyholder for investigation. However, insurers that have invested in automated fraud prevention systems have been ...

Best Practices for Leveraging Business Analytics in Today’s and Tomorrow’s Insurance Sector [ Source: SAS Institute ]
January 2009- The use of business analytics continues to permeate the insurance marketplace. This report shares the insights of industry thought leaders as they describe the cultural, organizational, technological and personnel challenges required to more broadly adopt and utilize business analytics. New technology capabilities, business models and data sources are constantly emerging. The successful organizations will be those that concentrate as much on the implementation and deployment of business analytics as on the technology itself. For these ...

Better Business Intelligence: The Adaptive Data Modeling Advantage [ Source: Oracle Insurance ]
January 2012- What if you could give your business users the ability to configure their own requirements for business intelligence and data warehousing projects? What if they could easily re-configure those requirements as business needs change, and automatically generate data structures? How would this impact the length of time it takes to complete BI projects, and how would it affect the quality of information your company relies on to make business decisions? <br><br&...

Predictive Analytics Enables Insurers to Drive Profitability and Growth [ Source: Tata Consultancy Services (TCS) ]
May 2011- In the current post-economic crisis climate, insurers find themselves faced with myriad challenges that they must address to safeguard and grow their business. The upside is that these challenges can bring valuable opportunities for the savvy insurers that can recognize and overcome them. Predictive analytics enables insurers to drive profitability and growth. Read this whitepaper to learn how insurers can harness massive amounts of data using predictive analytics to safeguard business and capture new market ...

Retain and Grow your Customer Base with IBM Business Analytics [ Source: IBM ]
October 2010- In the highly competitive insurance industry, customers are less loyal, more price conscious and have higher service expectations. For insurers and producers to retain customers, attract new ones and offer differentiated service - they need to understand customer needs, behaviors and preferences. But how do you know what customers want?

IBM Business Analytics can help you combine the power of business intelligence, predictive analytics and decision optimization to improve customer retention and wallet ...

The Evolution of Data Quality in the Insurance Market [ Source: SAS Institute ]
March 2010- Users care less whether a data element is accurate 99 percent of the time than they do about the 1 percent inaccuracy that caused problems with reconciling a financial report, responding to a customer or adjusting a claim decision. So it is important to have a program in place that ensures users’ trust in data. Data needs to be treated as a long-term corporate asset to be protected, invested in, maintained and improved for sustained ROI. Insurance ...

Combating Insurance Claims Fraud: How to recognize and reduce opportunistic and organized claims fraud [ Source: SAS ]
September 2009- Many insurers still believe that it is too expensive to detect fraud, and they simply accept a certain amount of fraud loss as a standard cost of doing business. With the increased focus on customer satisfaction, insurers also are understandably reluctant to stall claims processing to investigate a hunch – or worse, to mistakenly target a legitimate claim and an honest policyholder for investigation. However, insurers that have invested in automated fraud prevention systems have been ...