Capgemini Commercial Insurance Risk Analytics Powered by HP HAVEn
 

Capgemini Commercial Insurance Risk Analytics Powered by HP HAVEn

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With Capgemini Commercial Insurance Risk Analytics powered by HP HAVEn Insurers can gain unprecedented access to information on individual risk factors for a more informed, faster risk assessment.

With Capgemini Commercial Insurance Risk Analytics powered by HP HAVEn Insurers can gain unprecedented access to information on individual risk factors for a more informed, faster risk assessment.

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Capgemini Commercial Insurance Risk Analytics Powered by HP HAVEn Capgemini Commercial Insurance Risk Analytics Powered by HP HAVEn Presentation Transcript

  • Commercial Insurance Risk Analytics G i d d i f iGain unprecedented access to information on individual risk factors for a more informed, faster risk assessment, © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.
  • Is the insurance industry keeping up with the changing risk environment ? “Insurers and brokers are trying to get their arms around the challenges better. I think part of the answer is investing in research and development; making better use of the vast amount of dataand development; making better use of the vast amount of data available and perhaps looking at solutions with a greater degree of innovation - without discarding the fundamentals of insurers managing their books of business in a way that has served them ll i ti f fi i l t il f th t ”well in times of financial turmoil for other sectors.” President of FERMA © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.2
  • Most insurers agree on Big Data’s potential for competitive advantage Believe those insurers that do not capture the potential of Big Data will become uncompetitive 82% Agree that analyzing multiple-source data together, rather than separately, is crucial to86% making accurate predictions Agree that linking information by location isAgree that linking information by location is key to usefully combining disparate sources of Big Data 88% Say that the digitally-enabled world will see the emergence of new risk rating factors 96% © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.3 g g Source: the big data rush: how data analytics can yield underwriting gold. Survey conducted by Ordnance Survey and the Chartered insurance Institute, 25 April 2013
  • A wealth of data exists inside and outside the organization that could improve risk assessment Geographicg p Is the facility located in a site prone to natural disasters? Political Is the facility located in a region of political stability/instability? Economic Is the facility located in a high, middle, or low economic area?area? Crime Is the facility located in a high crime area? Risk DensityRisk Density What are the nearby risk factors? CustomerCustomer Personal details, claims history, other policies ? Claims How many claims have been © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.4 How many claims have been made in this area ?
  • The challenge is to integrate large volumes of varied data and make it accessible How do separate Business impact Delays and inefficiencies inHow do separate the data I need from the vast data that exists? Delays and inefficiencies in collation of data required for informed decision-making How and where can I access the data I need? Inability to treat risks individually and assess t l = How do I identify new data sources to mine for relevant information? How do I analyze d t i lti l accurately Inability to use data information? data in multiple formats from disparate sources? proactively and lack of predictive capabilities © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.5
  • Introducing a “one-stop shop” for collecting, synthesizing, and analyzing risk data Capgemini Commercial Insurance Risk Analysis (CIRA) powered by HPCapgemini Commercial Insurance Risk Analysis (CIRA), powered by HP HAVEn • Focus on the business ofFocus on the business of underwriting • Supporting risk• Supporting risk assessment on an individual policy basis • Integrate multiple sources• Integrate multiple sources for real-time decision making • Provide the right data for• Provide the right data for the right decisions © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.6
  • Backed by a business-driven approach, CIRA directly addresses real client challenges Capgemini intellectual property (IP) development originates from ideas pain points andCapgemini intellectual property (IP) development originates from ideas, pain points, and issues of our insurance clients and involves clients and independent industry experts throughout the IP lifecycle. Business-driven CIRA core concept originated in a workshop with one of our global insurance clients Business-driven approach to the definition and development of intellectual property i ifi t Independent underwriting firm qualified to QA the CIRA - Proof of Concept (PoC) removes a significant amount of risk for our clients PoC is being demonstrated to multiple insurersPoC is being demonstrated to multiple insurers in the EU and NA for feedback, shaping the next stage development © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.7
  • HP HAVEn – the leading Big Data platform HAVEn Hadoop/ Autonomy V ti Enterprise nAHadoop/ HDFS Autonomy IDOL Vertica Enterprise Security nApps Scale Source Speed Secure Powering HP Software + your apps © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.8 Transactional dataSocial media IT/OT ImagesAudioVideo Mobile Search engineEmail Texts Documents hp.com/haven
  • More information Capgemini Insurance :Capgemini Insurance : www.capgemini.com/CIRA HP HAVEn: www.hp.com/HAVEn Request a live demonstration of CIRA: InsuranceRisk.fsgbu@capgemini.com © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.9
  • About Capgemini and HPpg About Capgemini With more than 131,000 people in 44 countries, C i i i f th ld' f t id f About HP HP creates new possibilities for technology to have a meaningful impact on people, businesses, Capgemini is one of the world's foremost providers of consulting, technology and outsourcing services. The Group reported 2013 global revenues of EUR 10.1 billion. Together with its clients, Capgemini creates and delivers g p p p , , governments and society. With the broadest technology portfolio spanning printing, personal systems, software, services and IT infrastructure, HP delivers solutions for customers’ most complex challenges in every region of the world Moreg , pg business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business ExperienceTM, and draws on Rightshore® its worldwide delivery model challenges in every region of the world. More information about HP (NYSE: HPQ) is available at http://www.hp.com draws on Rightshore , its worldwide delivery model. Rightshore® is a trademark belonging to Capgemini www.capgemini.com/financialservices www.hp.com © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice.