With more insurance companies turning to robust analytics solutions to better understand their liabilities, risks, and underwriting expenses, CoEnterprise has you covered. Let us help empower your insurance data analytics to support your operations.
Whether you are trying to collect data from a variety of internal or external sources to better understand and predict the behaviors of insureds, using predictive modeling to prepare for the underwriting workload, or evaluating the impact of a stress scenario on your book of business, we have the expertise to help you visualize your data in one central location–with just a few clicks.
Are you struggling to monitor your call center claims? Are you unable to get clarity into which regions are closing claims in line with your specified target timeframe to ensure customer claims are being processed in a timely manner?
Our Call Center Claims Handling & Monitoring dashboard enables you to gain greater insight into your claims business. You can seamlessly track call center effectiveness, identify the number of claims a specific team member is closing out, and easily see how long it takes for claims to be closed out–all allowing you to evaluate your team’s overall effectiveness.
This insurance data analytics dashboard seamlessly integrates directly into CRM workflow to allow for immediate follow up (like clicking through to Call Representative Object through Salesforce Embedding). It natively integrates data from IVR systems, (for example, to deepen analysis using external data like call statistics), and integrates into the business workflow, enabling the tracking of claimants through their customer lifecycle.
How will this dashboard help you?
You’ll get greater visibility into:
The total cost of insurance fraud (non-health insurance) is estimated to be more than $40 billion per year. An astonishing number.
That’s why it’s vital for insurance agents to continually monitor and assess the number of claims received compared with claims that have a high overall suspicion score–which is based on a number of fraud factors for each claim. This dashboard seamlessly integrates with your existing ML/AI systems.
How will this insurance data analytics dashboard help you?
You’ll get greater visibility into:
Are you an insurance broker who is looking to better understand your book of business? Our Insurance Broker dashboard does exactly that. Insurance brokers and team leads can easily identify and track insurance financials on the branch and broker/producer level. You can easily drill down to your different lines of business and better understand your retention rates for both policy and premiums. The dashboard gives you a high-level summary of your quotes, from submitted through to quoted and written, along with your hit ratio, declination ration, total premium, and written premium. This is a must-have for all brokers!
How will this insurance data analytics dashboard help you?
You’ll get greater visibility into your:
Insurance Fraud Cost a Year
On average to settle a claim
Of insurance brokers time is spent on admin tasks
How CoEnterprise’s Insurance Data Analytics Solutions can help your business grow and flourish
With the increased demand for predictive insurance data analytics tools, now has never been a better time to turn to a trusted partner to help you understand and predict the behaviors of your insured. Knowing how quickly your team is processing claims, being able to predict potential market/claim trends, understanding your liabilities, and knowing your risks are the foundation of your success and growth.
Collecting data from a variety of sources–both internal and external–to better understand and predict the behavior of the insured from a central location is paramount to your success. Whether that data is coming from customer interactions, agent interactions, smart homes, social networks, or other sources, understanding and managing it will help your claims and underwriting teams be more successful.
With the increased variety and depth of data sources, information curated by insurance companies will become more actionable. Data collected from first-hand sources can provide valuable insights for insurers and will ultimately improve pricing and risk selection.
Learning from your customers and providing a stellar customer experience is what will make you stand out from the crowd. Consumers are demanding more and it’s imperative that insurers understand and analyze the history and behaviors of loyal customers and anticipate their future needs to retain existing customers.
Using insurance data analytics, you can determine events, information, or other factors that could affect the outcome of claims. By streamlining the process and reducing the amount of time spent on processing and researching claims–which traditionally takes weeks or months–you can enable your claims department to quickly mitigate risk.
