Hexaware Insurance Analyticshexaware.com/casestudies/BFSI_Insurance_Analytics_Presentation_1.… ·...

Hexaware Insurance Analytics

2 © Hexaware Technologies. All rights reserved.

Hexaware Insurance Practice Highlights

Process Consulting

• Business Consulting.

• Enterprise Architecture.

Legacy Modernization.

• Service Oriented Architecture.

• Quality Consulting

Key Industry Solutions

• PAS Implementation.

• CMS Implementation.

• BI & A

• Testing Services

• Insurance Testing accelerators.

• Business Rule Engines

Enterprise Applications.

• Human Resource Management.

• CRM.

• ERP Finance

• Content Management

• Internet / Intranet Portals.

BPO / KPO.

• Voice and non-voice.

• Claims Pre processing

• Data Correction.

• Payment processing.

• Actuarial process outsourcing.

• Market Research Outsourcing

Over 25+ Globally satisfied clients and over 400+ insurance professionals..

Business Intelligence and Analytics. KPI Dashboard across Insurance value chain

LOMA /AICPCU and IBM SOA Certified professionals.

Dedicated CoE for Insurance providing thought leadership.

Alliances with the best-in-class application vendor for PAS & CMS

Partnerships:

Core PAS – Life and P&C

Claims Administration

SOA Enabled, Componentized,

Rule based processing,

Channel Management

Channel Management

Service

New Business & Underwriting

Policy Administration

System

Claims Administration

ERP System Business Analytics


Business Analytics - Insurance

Insurance Analytics Pack

Life and Non-Life insurance.

Technology agnostic, Platform independent and customizable.

Bottom up design for holistic and granular level of data analysis

Process Coverage

Claims,

Channel & Marketing

Policy Admin

Underwriting

Components

Strategic Question Repository

Pre Built Dashboards,

Performance Metrics & Reports,

Pre built Data model,

Pre Built data marts,

Pre

Built

– J

um

p S

tart

Kit

CRM

HR-IT

General Ledger

Sales

SCM

Counterparty

Risk

OpRisk Pack

Additional

Analytics

Partnerships with Greenplum, Oracle, IBM, Microsoft, Informatica, QlikView


Processes

Sub Processes

Sales and Distribution

Underwriting Policy

Services Claims

Processing

Process TAT Business Growth

Customer Retention

Channel Performance

Quote / Rates Underwriting Policy Issuan

ce

Reserving/ Severity

Processing Analysis

Channel Analytics

• Sales Performance

• Critical Ratios

Underwriting Analytics

• Process TAT

• Underwriting Effectiveness

Policy Admin Analytics

• Process TAT

• Persistency Analysis

Claims Analytics

Claims Severity

Claims Pattern

Management Dashboard


Marketing Analytics; Monitor Business Growth

Complete view of your business data.

Analyze the performance against targets. Download reports in excel format.


Slice and Dice of Persistency / Customer Retention

Persistency Analysis, get complete view

Drill down

slic

e a

nd

dic

e

Get complete view.


On-screen TAT Analysis

• Our solution helps track all the

operational metrics.

• Measure your TAT for all process and

know the bottle necks.

Entire Process

Sub-Process


Dashboard + Drill down

• Identification of key ratios useful for claims operations.

– Dashboard + drilldown.

• Control costs and reserving accuracy by tracking

Combined, Loss, Expense, Settlement and Claim ratios.

Monitor performance.

• Multi dimensional drill down

• Same KPI different analysis

• Export to Excel

Drill Down

Oth

er

Dim

en

sio

n


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


Claims data analysis – meaningful insight

One set of claims data when analyzed on different dimensions yield different inferences

Claim by cover type helps you decipher –

Garage coverage claims is on higher side

Claims

distribution

by vehicle-

make helps

you analyze

which

brand’s

pricing needs

correction

Claims repudiation analysis by distribution

channel by Geo helps analyze possible

fraudulent behavior

1

2

3


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 a

visual dashboard of the reason of claims in

a Geo.

It can also be used to analyze the claim type

and reason associated with catastrophic

claims like flood, typhoons etc.

Analyze, How fast you settled claims.


www.hexaware.com

© 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

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