AI and Advanced Analytics for Insurance Companies
Fraud prevention and compliance are making it vital to analyse massive data sets, while pressure from new competitors is leading insurers to simplify engagement with the market, to improve expense ratios, and to develop personalised policies that enhance customer engagement. Insurers also want to boost competitiveness by increasing automation, to execute more business with current resources.
To address these requirements, Northdoor can help insurers understand the immediate benefits of advanced analytics and automation solutions, and the future potential of AI and cognitive computing. With 30 years of experience in the London Market, we offer proven, practical approaches to deploying analytics and cognitive solutions that deliver rapid return on investment.
In addition to designing, deploying and managing solutions, Northdoor offers a comprehensive set of services to help you understand where you are today, identify the best opportunities for new solutions based on your specific business processes and organisation, and plan a phased deployment with clear payback at every step in the journey towards cognitive.
Get the cognitive edge for…
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Improving compliance
With GDPR on the near horizon, advanced analytics and machine learning can help insurers discover, assess and manage compliance-related information in both structured and unstructured data sets.
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Personalising insurance policies
Advanced analytics solutions help insurers to understand and model customer requirements, enabling the sale of highly tailored policies to a mass market of consumers without additional administrative overhead.
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Tackling fraud
Using advanced analytics and machine learning empowers insurers to extract insights directly from claims audits and insert them into critical stages of the claims process, then take action to cut leakage.
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Improving customer engagement
Using advanced analytics to build a deeper understanding of customers can transform relationships, accelerating interactions and enabling fully personalised services that strengthen customer satisfaction and loyalty.
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Increasing automation
Intelligent process-automation solutions take the strain off human resources, applying adaptable business rules to process information automatically and freeing up skilled human resources to focus on competitive differentiation.
Take the next step
With deep experience of both the London Market and the latest analytics and cognitive technologies, Northdoor can help you identify priority use-cases, define the business case, the starting point and the roadmap, and then run proof‑of‑concepts to demonstrate the likely ROI.
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