Hexaware Insurance Analytics

1. Hexaware Insurance Analytics

2. Hexaware Insurance Practice Highlights
Over 25+ Globally satisfied clients and over 400+ insurance professionals.. Partnerships:
Business Intelligence and Analytics. KPI Dashboard across Insurance value chain
Core PAS – Life and P&C
Claims Administration
LOMA /AICPCU and IBM SOA Certified professionals. SOA Enabled, Componentized,
Rule based processing,
Dedicated CoE for Insurance providing thought leadership.
Channel Management
Alliances with the best-in-class application vendor for PAS & CMS
Channel Policy
New Business Claims Business
Management Administration ERP System
& Underwriting Administration Analytics
Service System
Process Consulting Key Industry Solutions Enterprise Applications. BPO / KPO.
• Business Consulting. • PAS Implementation. • Human Resource • Voice and non-voice.
• Enterprise Architecture. • CMS Implementation. Management. • Claims Pre processing
Legacy Modernization. • BI & A • CRM. • Data Correction.
• Service Oriented • Testing Services • ERP Finance • Payment processing.
Architecture. • Insurance Testing • Content Management • Actuarial process
• Quality Consulting accelerators. • Internet / Intranet Portals. outsourcing.
• Business Rule Engines • Market Research
Outsourcing
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3. Business Analytics - Insurance
Insurance Analytics Pack Additional
Life and Non-Life insurance. Analytics
Technology agnostic, Platform independent
and customizable. CRM
Bottom up design for holistic and granular level
of data analysis HR-IT
Pre Built – Jump Start Kit
Process Coverage General Ledger
Claims,
Channel & Marketing
Sales
Policy Admin
Underwriting
SCM
Components
Strategic Question Repository Counterparty
Risk
Pre Built Dashboards,
Performance Metrics & Reports,
OpRisk Pack
Pre built Data model,
Pre Built data marts,
Partnerships with Greenplum, Oracle, IBM, Microsoft, Informatica, QlikView 3
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4. Management Dashboard
Channel Underwriting Policy Admin
Analytics Analytics Analytics Claims
Analytics
• Sales • Process TAT • Process TAT
Performance • Underwriting • Persistency Claims Severity
• Critical Ratios Effectiveness Analysis Claims Pattern
Channel Policy
Business Customer Reserving/ Processing
Performance Quote / Rates Underwriting Issuan Process TAT
Growth Retention Severity Analysis
ce
Sub Processes
Sales and Policy Claims
Underwriting
Distribution Services Processing
Processes 4
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5. Marketing Analytics; Monitor Business Growth
Complete view of your business data.
Analyze the performance against targets. Download reports in excel format.
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6. Slice and Dice of Persistency / Customer Retention
Persistency Analysis, get complete view
Drill down
slice and
dice
Get complete view.
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7. On-screen TAT Analysis
• Our solution helps track all the
operational metrics.
• Measure your TAT for all process and
know the bottle necks.
Sub-Process
Entire Process
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8. Dashboard + Drill down
• Identification of key ratios useful for claims operations.
– Dashboard + drilldown.
Drill Down
Dimension
• Control costs and reserving accuracy by tracking
Other
Combined, Loss, Expense, Settlement and Claim ratios.
Monitor performance.
• Multi dimensional drill down
• Same KPI different analysis
• Export to Excel
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9. KPI based - Claim Pattern Analysis.
• Analysis across all key parameters (Product, Region, Channel) - Deep insight for
improving operational efficiency.
• Real time view of settlement ratio to monitor target versus actual performance with
drill down option to know what is pulling you down
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10. Claims data analysis – meaningful insight
One set of claims data when analyzed on different dimensions yield different inferences
2 Claims
distribution
by vehicle-
make helps
you analyze
1 which
Claim by cover type helps you decipher – brand’s
Garage coverage claims is on higher side pricing needs
correction
3 Claims repudiation analysis by distribution
channel by Geo helps analyze possible
fraudulent behavior
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11. Catastrophic claim analysis
Claims Amount Analysis by Zone helps in
analyzing claims reported from a particular
Geography.
This dashboard allows analysis on
Geographic basis. The Zone hierarchy
includes States and City.
Claim Analysis by Type by Zone gives a
visual dashboard of the reason of claims in
a Geo.
It can also be used to analyze the claim type
and reason associated with catastrophic
claims like flood, typhoons etc.
Analyze, How fast you settled claims.
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12. Thanks
© 2009 Hexaware Technologies Limited. All rights reserved. For internal circulation only. Neither this publication nor any
part of it may be reproduced, stored in a retrieval system or transmitted in any form or in any means, electronic,
mechanical, photocopying, recording or otherwise, without prior permission of Hexaware Technologies Limited.
Published by Corporate Marketing & Communications
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www.hexaware.com