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Insurance Analytics
Embrace data-driven practices as an insurer to reduce risk, enhance customer understanding, and boost profitability.
Our expertise lies in assisting insurance companies in leveraging their data to deliver the utmost customer service experience while adeptly navigating challenges arising from stringent regulatory norms and fierce competition within the industry.
Leveraging our comprehensive data and analytics solutions, insurance companies gain profound insights into their customers, enhance retention, improve risk assessment in underwriting, reduce claims costs, and discover new avenues for growth.
Data and Analytics Services for Insurance
Our expertise lies in seamlessly integrating insurance data from various sources such as sales (CRM), claims, and policy (underwriting) to offer a comprehensive 360-degree view of your customers. We understand that standard out-of-the-box analytics solutions may not meet your specific needs. Thus, we develop intelligent, robust insurance-specific dashboards that empower you to intuitively analyze crucial KPIs like loss ratio, combined ratio, rate, retention, earned, and premium.
Risk Assessment
Utilize historical claims data analysis to identify trends for assessing applicant risk and develop pricing strategies aligned with the determined risk levels.
Track Insurance Fraud
Effortlessly recognize and automate red flags in the application process, empowering agents to take decisive actions on policy issuance. Unearth patterns over time and proactively prevent fraudulent claims.
Improve Customer Experience & Develop Customized Policies
Through the implementation of analytics techniques such as customer segmentation, we enable you to attain a detailed and sophisticated comprehension of customer preferences and behaviors. This empowers you to craft personalized policies tailored to individual needs.
Claims Modernization
Combine claims and policy data to assess profitability. Extract crucial insights from adjuster claim notes. Optimize claim adjuster staffing models using historical data and claim volume projections.
What We Do
Parabola9 implements the best solution to transform your organization with data-driven decisions. We help you understand your data, identify trends, and make informed decisions that will help you achieve your goals. We offer a wide range of services, including data analysis, data visualization, and data-driven decision-making. We work with you to understand your needs and develop a custom solution that meets your specific requirements.
Strategy
Our team helps you see the big picture with data-driven insights and a custom action plan to achieve your business goals.
Execution
Our team of experts will help you build and deploy the foundation for data analytics success, saving you time and money.
Migration
We will help you migrate your legacy data solutions to modern cloud-based platforms without disrupting your business.
Data Team
Our team of data experts can help you fill talent gaps and provide ongoing support at any level of your organization.
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Sign up to meet with one of our analytics experts who will review your data struggles and help map out steps to achieve data-driven decision making.
