The quest of an insurance organization to become an informed enterprise amidst rapidly changing market dynamics is stronger than ever. This is essential to control costs, develop new products, negotiate underwriting premium and improve customer satisfaction.
Business Intelligence and Analytics technologies provide a consistent data foundation that stores the single version of the truth in an accessible manner. Insurers are focusing on data quality and collecting, storing, managing, and analyzing this data effectively. There is also an increased interest in Predictive and Descriptive Analytics that analyze various links of the business, detect fraud and risk patterns, decision support and intercept problematic issues, provide valuable insight and foresight enabling them to make smart move.
Hexaware’s BI & Analytics Offering for Insurance
“One size does not fit all”
. This is at the heart of our endeavor to weave customized analytical ecosystems and business intelligence infrastructure that provide actionable decisions and blend with the core operating model of the insurers.
Our BI (Business Intelligence & Analytics) Solution Offerings enables insurers to unlock the business value hidden in operational data and addresses challenges along the life cycle and maturity of the entire BI Infrastructure. Our ability to evolve and partner with customers to tackle the growing, dynamic business requirements through pertinent services has been a cornerstone in long term association with them.
Hexaware’s Analytics Offering for Insurers
The Analytical Solutions offering of Hexaware is a critical stepping stone in shortening decision making cycles and improving decision making capabilities at all managerial levels, be it operational, tactical or strategic. Hexaware brings to table a deep understanding of strategic and tactical questions and issues that confront insurance business users daily. Our solution architectures are crafted by practitioners with deep insurance domain experience.
Hexaware brings together market leading products, complementary pre-built extensions and building blocks to provide compelling tailored offerings, enabling you to incrementally invest and steadily bolster your analytical capability. This is supplemented through our own prepackaged analytical building blocks, setting the stage for reaping benefits from advanced analytics.
Hexaware’s in-house BI&A components, frameworks and analytical packs helps in reducing the cost of implementing analytics by almost 25%, improves processes, productivity and efficiency.
Hexaware’s BI Analytical Packs
The key Features of our Insurance Analytical Packs
- Technology agnostic and Platform independent. Our Analytical Solutions can be deployed easily on various Business Intelligence tool sets. This allows us to reuse existing Analytical Frameworks and extend them to deliver value at much lower costs
- Bottom up design for holistic and granular level of data analysis for each insurance business process – core and non-core. At Hexaware, we are acutely aware that analytics derives its strength from clean and consistent data and from business intelligence frameworks that protects consistency
- Segregation of possible fraudulent claims with predictive analytics using specialized Data Mining and Quantitative Model development and maintenance
- Advanced Analytics to secure a competitive advantage. Typically the capability of advanced analytics is lost in a quagmire of inconsistent data. At Hexaware we solve this through the cohesion of Domain Experts and Technology Architects leveraging methodologies and toolsets that have been designed to prevent late surprises and implementation overruns
Why Hexaware for Insurance Analytics?
We help you to reduce the cost of executing short or one-off Business intelligence implementations using our flexible pool of skilled BI consultants.