In today’s digital environment, empowered consumers demand prompt and personalized services—anytime and anywhere. To sustain profitability in this scenario, insurers need to aggressively focus on boosting retention rates through enhancement of customer service. To enhance customer experience across different touch points, carriers must effectively leverage social media, mobility, and data analytics. Our offering captures attributes like individual risk profile, profitability, policy coverage, claim and engagement history, and social interactions. These data sets are processed using analytics tools, to generate actionable insights on customer preferences and sentiment, recommend predictive customer service initiatives, and proactively offer personalized products and services.

Predictive Analytics

By combining segmentation with predictive analytics, companies can also cut down on risk. For example, to decide whether certain customers are likely to pay off their credit cards. This analysis takes into account the demographic characteristics of customers’ neighbourhoods and makes calculated predictions. By studying search volume data provided by Google Trends, they were able to identify online precursors for stock market moves. Their results suggest that increases in search volume for financially relevant search terms usually precede big losses in financial markets.

Unlock new business value with digital technology

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