With Life Insurance business in its most competitive state, with additional burden of Downturn/Recession, Retention of the existing policy holders is the biggest concern. There is a need for being able to model the behavior in each product / region / customer category and constantly making the right adjustments in the marketing / sales strategies is a must for staying profitable.

Our dashboards focus on integrating data from the various systems used in a Life Insurance company. Starting with the Policy Management System (like Life 400 from CSC, or Ingenium), we have integrated various systems including Risk Management (like Credence), HR (like SAP HR), Policy Origination also called as Login / Token, Claims, Re-insurance and the Financial Accounting Systems. The Unified Data Model created is then used to create various Dashboards / Reports to provide a rich insight into the various management aspects.

The various dashboards including Branch Management, Sales Reporting, Login/Acquisition Reporting being used across hundreds of branches for daily/weekly management decision making is a highlight of our offering. The organizations using these offerings are some of the largest insurance companies in terms of Lives Insured.

Most interesting metrics including Renewal Ratio, Claims Ratio, Written Vs. Earned Premiums are all given as of date, without having to run time-consuming reports every time we want to look at a section of the organization – product wise, region/branch wise, person wise, customer category wise, and so on. This puts a great power in the management’s hands to take informed decisions to grow / prune any section of the business at any time, without having to just rely on Intuition alone.

Persistence – Existing Business vs. New Business is always a challenge, and higher persistence is an important key to profitability. We have built analytical what-if models to help understand the profitability gaps in various sub-sections of the organization – product level / region or branch level / customer segment level in-depth persistency analysis – with ability to project for future to plan strategies is readily available. In this model, appropriate changes can be made to reflect the particular unique differentiators of your business, to fit the model to your business.

Integrating all systems into a unified whole, the ability to take interconnected decisions is much faster and easier. We are very focused on reducing the cost per report or cost per question raised by the management, making decision making a pleasure – a combined right brain – left brain collaboration!