Data in the insurance sector
About our client
Our client is an International world leader in the design and management of international healthcare solutions.
Industry :
Insurance sector
Database
Management
Advanced
data analytics
BI reporting
Data Mining
Dashboarding
Challenge
Insurance companies always need to have access to actionable, timely information. And the Lack of data visualization makes those companies lose revenue, destroy customer confidence and pull down productivity levels.
So to solve any future challenges, our client trusted us to create a PoC that deal with two goals
- Enhancing fraud detection
- Streamlining their business processes by automating the reporting process
Solution
To respond to our client requirements and goals, we proposed a dynamic dashboard that manages all their resources by automating the reporting process.
And as KPI management is crucial for insurance companies to track progress against targets and goals to improve performance, the report will effectively visualize Key Performance Indicators (KPIs) that ultimately will fasten the decision-making process.
Also, we suggested how advanced analytics can assist in customer profiling, financial forecasting, and improving fraud detection.
Keeping in mind the goals of our client, Our data science team proposed taking into account the following points:
- Offering better insurance plans and avoiding human-based errors through machine learning
- Managing data such as the definition of KPIs
- Estimating future data behaviors with the help of predictive analytics
- Performing detailed cost analysis to improve risk management
- Optimizing customer analytics processes to gain a competitive advantage
- Dynamic dashboards with interactive charts and the ability to import data, then export analysis and reports in different formats (excel, CSV, pdf ….)
- Applying advanced data analytics techniques that will help in fraud detection, financial predictions, and the profiling of members, providers, and companies
Technologies & tools
Our Method of work
best practices in every project.
First of all, we define priorities and the needed requirements. Then, we estimate the timeline with great precision. Once validated, we define the sprints and start the design and conception. After finishing the creative work, we start the development. Finally, we validate every sprint with the client and deliver automatically with DevOps tools.