Insurance Analytics: Driving Smarter Decisions
Insurance Analytics: Driving Smarter Decisions Insurance analytics refers to the use of data analysis techniques, predictive modeling, and artificial intelligence to support decision-making across the insurance value chain. This includes underwriting, pricing, claims processing, fraud detection, customer segmentation, and risk assessment. It helps improve accuracy and efficiency. Insurance analytics involves structured and unstructured data to provide insights and help improve business performance. It also uses natural language processing and machine learning to automate decision-making. Insurance analytics enhances the customer experiences using chatbots, virtual assistants and others, that are powered by artificial intelligence. Insurance analytics help evaluate risk, determine premiums, and predict future claims. It uses predictive models to determine the possibility of the customer filing a claim during a certain period. This allows insurers to adjust the pric...