Top Insurance Analytics Consulting/Services Companies
As the insurance plan enterprise undergoes splendid technological changes, insurers are taking drastic steps to enhance operational efficiencies as properly as decrease the prices, thereby making the strategies customer-oriented. Insurance corporations are focusing on presenting customized and usual communications with their customers to pressure transparency in communication. Organizations are adopting omnichannel distribution services for bettering the frequency of client interactions besides compromising on the quality.
On the science front, large records and analytics are enjoying an essential position in aggregating and inspecting human beings data, thereby empowering insurance plan groups to achieve firsthand insights and higher serve their customers. Social media systems and interactions with clients are assisting organizations extract treasured facts and put them into action. Besides, groups are deploying high-end technology, such as IoT and related devices, blockchain and cellular in an try to apprehend the clients higher and enhance their support. Underwriters are unlocking the electricity of AI and RPA for managing excessive volumes of data, parse and validate proof quicker and extra cleanly via automation. Moreover, from the safety perspective, the enterprise professionals are leveraging blockchain as a central platform for gaining access to digital scientific archives in a impervious fashion.
In addition, groups are using predictive analytics on provider systems to prioritize claims with an goal to reduce down on costs, concurrently saving time and resources. Organizations are making use of predictive analytics to expect the desires of the insured people, therefore assuaging their concerns whilst enhancing the customer-carrier relationship. While present day science ensures excellent for the Insurance industry, it is an uphill venture for groups to figure out on one from the broad assemblage of trends. To make this project easier, a distinct panel comprising CEOs, CIOs, VCs, Analysts and the editorial board of Insurance CIO Outlook has chosen a listing of Insurance Analytics Service Providers.
We existing to you Insurance CIO Outlook’s “Top 10 Insurance Analytics Consulting/Services Companies — 2019.”
CyberCube
CyberCube delivers data-driven cyber analytics built specifically for the insurance industry. CyberCube is focused on solving the most difficult and important cyber risk challenges in insurance with world-class analytics. Its team is composed of multi-disciplinary experts across data science, cyber security, software engineering, actuarial modeling and commercial insurance. CyberCube offers a software as a service platform for cyber risk aggregation modeling and insurance underwriting. The CyberCube platform was established in 2015 by Symantec to apply the cyber security company’s unique sources of data, intelligence and expertise to cyber insurance analytics and now operates as a standalone company with continued access to Symantec data and resources
Check This Out: CyberCube
Equian
Equian delivers payment integrity solutions through proprietary content, enabling technology, and highly responsive customer service. A fast-paced, innovative technology company ranked among the nation’s fastest growing healthcare companies by Inc 500, Equian provide solutions to healthcare payors in multiple markets throughout the world and connect clients to the lowest possible cost of care utilizing advanced technology, customized solutions, exclusive offerings and personalized service to drive optimal savings and reduce administrative demands. Equian is a leading provider of technology-enabled, data-driven solutions ensuring accurate payment integrity across the healthcare and property and casualty industries
Check This Out: Equian
Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector. Sapiens offers core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets, as well as business decision management software. The company has a track record of over 30 years in delivering superior software solutions to more than 400 financial services organizations
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Verisk Analytics [NASDAQ:VRSK]
In 2018, Forbes named Verisk Analytics to its World’s Best Employers and America’s Best Employers for Women lists. The company’s workplace culture earned the Great Place to Work® Certification for the third consecutive year. Verisk (Nasdaq:VRSK) is a leading data analytics company serving customers in insurance, energy and specialized markets, and financial services. It help customers make better decisions with greater precision, efficiency, and discipline. Verisk businesses include ISO, Wood Mackenzie, Verisk Maplecroft, Xactware, AIR Worldwide, Argus, and Verisk 3E
Check This Out: Verisk Analytics [NASDAQ:VRSK]
Groundspeed
Groundspeed is headquartered in Ann Arbor, Michigan. The company is solving one of the insurance industry’s most substantive challenges: how to create value from unstructured information. The company’s leadership blends C-level P&C and world class tech experience with successful entrepreneurship and deep product domain expertise. Groundspeed is a data science and artificial intelligence (AI) company serving commercial property and casualty insurance carriers, brokers and managing general agents (MGAs). The company helps clients unlock the value in unstructured information such as loss runs, exposure schedules and policy data to automate core processes and provide powerful predictive risk analytics that improve margins, identify profit pools, and improve customer experience.Groundspeed accelerates commercial insurance performance with the power of machine learning and artificial intelligence. The Groundspeed platform automatically turns files like submissions, loss runs, exposure schedules and policy documents into actionable information, empowering users to lower costs, identify profitable pools of risk and drive top-line growth
Check This Out: Groundspeed
Guidewire Software
Guidewire Cloud™ is the optimal way to experience the power of Guidewire InsurancePlatform™, combining Guidewire software, services, and ecosystem in a scalable SaaS model. It scales according to use, provides cost predictability, and transfers IT risk to Guidewire. Expert Guidewire teams and SaaS-certified partners provide implementation services, security, ongoing management, and regular updates. All Guidewire products are available via Guidewire Cloud, which is powered by Amazon Web Services (AWS). Guidewire is committed to ensuring that client’s business takes full advantage of the capabilities of Guidewire InsurancePlatform. That’s why a subscription to Guidewire Cloud includes Guidewire Cloud Assurance Services. Whether a client needs extensive configurations or simply want to run Guidewire’s applications “out-of-the-box”, the company is committed to client’s success. The Guidewire Cloud Assurance Services team verifies that all code running in Guidewire Cloud meets industry best practices and fulfills the company’s service-level agreement (SLA) with clients
Check This Out: Guidewire Software
Information Builders
Information Builders is headquartered in New York, NY, with global offices, and remains one of the largest privately held companies in the industry. Information Builders’ Professional Services team helps to maximize ROI from clients’ business intelligence, analytics, and data management solutions. This professional service team is committed to customers’ success and have proven it many times over in the cost-effective implementation of award-winning, game-changing, and revenue-generating applications across all industries. The professional service team of Information Builders utilize Strategic Value Assessments to identify business objectives, evaluate industry opportunities, leverage data assets effectively, and address business challenges. This methodology brings together the right people, processes, and technology for an organization’s ideal solution
Check This Out: Information Builders
Origami Risk
Origami Risk caters to the risk and insurance industry. The company approaches with s singular focus on its customers’ business objectives and outcomes in providing software and support. For Origami Risk, everything begins with its people — industry veterans capable of offering invaluable insight during implementation, eager to partner with clients to develop new, innovative functionality, and committed to ensuring customers continue to take full advantage of all the company has to offer. Origami Risk effectively manages every business risk, claims, safety, and underwriting activities. Whether clients use Origami’s integrated system to handle claims, collect exposure values, assess risk, or underwrite policies, they will benefit from a seamless user experience that includes award-winning data aggregation & reporting, intuitive data analytics tools, rules-based decision support solutions, and the ability to automate almost any process. Origami Risk’s experienced professionals and can-do work culture are at the heart of our Best-in-Class Service Model
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RVI Group
The RVI Group is the world’s leading provider of residual value insurance. For over 20 years, their solutions have brought financial, regulatory and accounting benefits to their clients, who are active worldwide in leasing, asset-based finance, and asset securitization. RVI’s core business continues to grow, and they are leveraging their strengths to diversify into complementary markets and geographies that offer additional growth opportunities. RVI Group’s family of products and services now includes passenger vehicle analytical services and severance management
Check This Out: RVI Group
X by 2
X by 2 is an IT consultancy focused on the practice of software and data architecture in the insurance and healthcare industries. It is a specialized group of enterprise, application, data, and integration architects and software engineers that delivers impact from strategy and architecture through project delivery. For over 20 years, X by 2 has worked with industry leaders in healthcare, insurance, retail and more, providing high impact strategy, architecture and implementation services
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