Transformational Analytics in Insurance

Discovery in Insurance

Data-driven insurers are achieving successful analytics transformation by becoming custodians of customer value and turning scale to their advantage.

Treat customers like people

Attract customers with personalized communications, tailored rates, loyalty offers, and intuitive product bundling by leveraging demographic and behavioral information.

Break away from static actuarial tables

Instead, draw upon additional data sources and provide underwriting decisions that reflect the specificity, nuance, and diversity in human life – automatically.

Right product, right price

Create granular customer segments that determine the best product, at the best price, at scale. Such optimized premiums help calculate accurate LTV and retain the most profitable customers.

Mitigate risk with improved health & wellness

Promoting beneficial behavior and creating consumer value in wellness requires targeted recommendations, drawing from disparate data, including connected devices.

Accelerating data-driven digital transformation

New world, new models….Data and AI have the opportunity to drive more impact than ever

New data models for a new world

Nearly all existing models have been invalidated by the coronavirus pandemic. They will presumably be invalidated again as the situation evolves as the world recovers. Even after recovery, it is unlikely that we will return to where we started before the crisis began. So how does that affect our data models?

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Applications for SparkBeyond Discovery in Insurance

Risk scoring

Personalize credit decisions while minimizing risk and exposure.

Fraud

Analyze anomalies and subtle signals in large amounts of data to identify criminal activity.

Customer retention

Accurately identify customers at the highest risk of lapse for effective, personalized retention campaigns.

Cross-sell and upsell

Use granular customer insights to accurately predict the most effective product or service.

How SparkBeyond is powering a global response to COVID-19

The unfolding health and economic crisis of 2020 demanded bold action. SparkBeyond provided governments, communities, and health organizations a creative, holistic, and adaptive AI solution to tackle the pandemic with confidence.

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Generative AI for data analytics: the future of enterprise sense-making

In the case of enterprise data analytics, generative AI will radically change the way we interrogate our data to explore, react to and shape our business realities.

Generative AI for data analytics: the future of enterprise sense-making

New data models for a new world

Nearly all existing models have been invalidated by the coronavirus pandemic. They will presumably be invalidated again as the situation evolves as the world recovers. Even after recovery, it is unlikely that we will return to where we started before the crisis began. So how does that affect our data models?

The Game Changers: AI in Banking

AI analytics helps major banks stay connected to their customers – especially during the dramatic rise of online financial management use. As leading banks apply a range of strategies to navigate the new normal, AI analytics is opening greenfield opportunities to raise profits, combined with agility and ethical responsibility.