INSURANCE

Solve provides solutions for actionable insights for our Insurance clients, enabling more informative decision making and overall increased efficiency within the businesses. Solve’s solutions include:

Claims:

 

  • Claims processing
  • Supplier analysis & management
  • Claims Fraud Investigation
  • Case load analysis
  • Policy Portfolio Analysis

Integrating Underwriting & Claims:

 

  • Customer Analysis
  • Loss ratio analysis
  • Channel optimization
  • Sales Advisor Analysis

Case Studies

Commission Calculation & Analytics for commissions tracking dashboard with Qlik to replace the multiple excel spreadsheets used to calculate and report agent commissions. The dashboard tracked agents performance based on policies sold and dollars collected. The dashboard provided data access and analysis capabilities to the commission facts.

The goal was to provide users with access to policies sold and fees collected at the agent, field manager and AVP levels.

The Commissions model incorporated both fiscal information and new meta data. Solve assisted client with design and recommended changes to the core business processes before implementing those changes in the client’s core systems. The application design will allow scalability for future phases and show additional data from which to make critical business decisions. Tasks included:

  • Developed extract scripts
  • Developed data model
  • Iterative development of Commissions Dashboard application, including trending, visualization and recommended actions.
  • Load testing
  • User acceptance testing and feedback
  • Migration of applications to production

Claims Data Analytics for a national insurer for home and auto allowed the client to analyze claims data and identify potential fraudulent claims including roof repair and replacement based on geography, weather metrics and dates. The analytics application also allowed them to identify errors in claims processing and better streamline internal processes that ultimately lead to a more profitable organization.

BI Environment Optimization and support for an organization that supports Benefits Consulting, Compliance and Healthcare Data Analytics. Utilized data analytics for:

Cost reduction and control for benefits administration

Identification of problem areas and associated solutions

Evaluation of plan performance to ensure effective and more efficient benefit plans