These are challenging times for insurance organizations around the globe. Never have stakeholder requirements been so demanding of corporate performance and funding in insurance businesses. Capital adequacy, performance, cash generation, and risk management are critical to the financial position of an insurer and must be transparent. Regulators want insurers to demonstrate that diversification is legitimate and capital is truly ‘fungible’. Insurers must successfully manage—separately and in totality—a myriad of risks: natural and human catastrophes, stability in credit and equity markets, regulatory scrutiny, capital requirements, and pressure from ratings agencies.

Challenges Multi-line insurers continue to focus on achieving both profitable growth and excellence in risk management. As margin compression increases with competition, insurers seek to improve market share through the following: Underwriting excellence Overhead reduction Claims leakage reduction Improved customer relationships and customer segmentation Determining new distribution channels Improving agent productivity and performance Developing tailored and targeted products and services Regulatory reporting under IFRS and the forthcoming Solvency II

 Insurance Risks 

Insurance fraud is a significant and growing issue, particularly impacting health, workers' compensation, auto and home insurance businesses. Whether committed as "hard fraud" by organized criminals, or as "soft fraud" by individual policyholders misstating claim circumstances or amounts, insurance fraud has the same impact -- inflated payouts of claims, that impact on loss ratios, and increased administrative costs for investigating claims. The net effect is increased costs for buyers as policyholders (or in the case of public insurers as taxpayers) in the form of “pass throughs” with higher premiums, increased deductibles, and reduced coverage options.

We provide insurance companies a comprehensive suite of integrated knowledge discovery, predictive modeling, strategy and scorecard development software programs that are easy to deploy, learn and use, and that drive significant return on investment within weeks of deployment.

Our predictive analytics systems empower insurance marketing, sales and risk management organizations to create revenue opportunities, and reduce risks of loss, at every stage of the customer credit lifecycle, from acquisition and targeting, through cost effectively integrate predictive capabilities with their underwriting and pricing engines, to provide comprehensive analysis and surveillance capabilities of their claims systems for retrospective and prospective fraud and abuse detection.