Hexaware insurance analytics


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Hexaware Insurance Analytics

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Hexaware insurance analytics

  1. 1. Hexaware Insurance Analytics
  2. 2. Hexaware Insurance Practice HighlightsOver 25+ Globally satisfied clients and over 400+ insurance professionals.. Partnerships:Business Intelligence and Analytics. KPI Dashboard across Insurance value chain Core PAS – Life and P&C Claims AdministrationLOMA /AICPCU and IBM SOA Certified professionals. SOA Enabled, Componentized, Rule based processing,Dedicated CoE for Insurance providing thought leadership. Channel ManagementAlliances with the best-in-class application vendor for PAS & CMS Channel Policy New Business Claims BusinessManagement Administration ERP System & Underwriting Administration Analytics Service System Process Consulting Key Industry Solutions Enterprise Applications. BPO / KPO. • Business Consulting. • PAS Implementation. • Human Resource • Voice and non-voice. • Enterprise Architecture. • CMS Implementation. Management. • Claims Pre processing Legacy Modernization. • BI & A • CRM. • Data Correction. • Service Oriented • Testing Services • ERP Finance • Payment processing. Architecture. • Insurance Testing • Content Management • Actuarial process • Quality Consulting accelerators. • Internet / Intranet Portals. outsourcing. • Business Rule Engines • Market Research Outsourcing 2 © Hexaware Technologies. All rights reserved.
  3. 3. Business Analytics - Insurance Insurance Analytics Pack Additional Life and Non-Life insurance. Analytics Technology agnostic, Platform independent and customizable. CRM Bottom up design for holistic and granular level of data analysis HR-ITPre Built – Jump Start Kit Process Coverage General Ledger Claims, Channel & Marketing Sales Policy Admin Underwriting SCM Components Strategic Question Repository Counterparty Risk Pre Built Dashboards, Performance Metrics & Reports, OpRisk Pack Pre built Data model, Pre Built data marts, Partnerships with Greenplum, Oracle, IBM, Microsoft, Informatica, QlikView 3 © Hexaware Technologies. All rights reserved.
  4. 4. Management Dashboard Channel Underwriting Policy Admin Analytics Analytics Analytics Claims Analytics • Sales • Process TAT • Process TAT Performance • Underwriting • Persistency Claims Severity • Critical Ratios Effectiveness Analysis Claims Pattern Channel Policy Business Customer Reserving/ Processing Performance Quote / Rates Underwriting Issuan Process TAT Growth Retention Severity Analysis ce Sub Processes Sales and Policy Claims Underwriting Distribution Services Processing Processes 4© Hexaware Technologies. All rights reserved.
  5. 5. Marketing Analytics; Monitor Business GrowthComplete view of your business data.Analyze the performance against targets. Download reports in excel format. 5 © Hexaware Technologies. All rights reserved.
  6. 6. Slice and Dice of Persistency / Customer Retention Persistency Analysis, get complete view Drill down slice and dice Get complete view. 6 © Hexaware Technologies. All rights reserved.
  7. 7. On-screen TAT Analysis• Our solution helps track all the operational metrics.• Measure your TAT for all process and know the bottle necks. Sub-Process Entire Process 7© Hexaware Technologies. All rights reserved.
  8. 8. Dashboard + Drill down • Identification of key ratios useful for claims operations. – Dashboard + drilldown. Drill Down Dimension • Control costs and reserving accuracy by tracking Other Combined, Loss, Expense, Settlement and Claim ratios. Monitor performance. • Multi dimensional drill down • Same KPI different analysis • Export to Excel 8© Hexaware Technologies. All rights reserved.
  9. 9. KPI based - Claim Pattern Analysis. • Analysis across all key parameters (Product, Region, Channel) - Deep insight for improving operational efficiency. • Real time view of settlement ratio to monitor target versus actual performance with drill down option to know what is pulling you down 9© Hexaware Technologies. All rights reserved.
  10. 10. Claims data analysis – meaningful insightOne set of claims data when analyzed on different dimensions yield different inferences 2 Claims distribution by vehicle- make helps you analyze1 whichClaim by cover type helps you decipher – brand’sGarage coverage claims is on higher side pricing needs correction 3 Claims repudiation analysis by distribution channel by Geo helps analyze possible fraudulent behavior 10 © Hexaware Technologies. All rights reserved.
  11. 11. Catastrophic claim analysis Claims Amount Analysis by Zone helps in analyzing claims reported from a particular Geography. This dashboard allows analysis on Geographic basis. The Zone hierarchy includes States and City.Claim Analysis by Type by Zone gives avisual dashboard of the reason of claims ina Geo.It can also be used to analyze the claim typeand reason associated with catastrophicclaims like flood, typhoons etc. Analyze, How fast you settled claims. 11© Hexaware Technologies. All rights reserved.
  12. 12. Thanks © 2009 Hexaware Technologies Limited. All rights reserved. For internal circulation only. Neither this publication nor any part of it may be reproduced, stored in a retrieval system or transmitted in any form or in any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of Hexaware Technologies Limited. Published by Corporate Marketing & Communications 12© Hexaware Technologies. All rights reserved. www.hexaware.com