8% reduction in Loss Ratio by underwriting 0.5% of the policies for a top P&C insurer
Overview
- Served over 8+ Top 15 P&C carriers globally providing solutions and strategic partnerships around claims, customer experience, marketing, distribution, pricing, and underwriting
- Developed a suite of AI and analytics solutions across functions in the industry
- Built accelerators and workbench for scaled applications
Expected business impact
- $45M recovery in fraud for major insurer through advanced analytics
- 8% reduction in Loss Ratio by underwriting 0.5% of the policies for a top P&C insurer
- $150 M growth in premiums for leading insurer through CLTV
- 30% reduction in call center costs and 40% agent’s potential time saving
- ~$4M losses avoided by selecting risks and pricing using ML based pricing models
Priority capabilities
- Reducing Customer Acquisition cost
- Cross-sell & Up-sell
- Better pricing framework
- Reducing cost per claim
- Fraud detection
- Automate key operation process
Success stories
Use data to identify ideal premiums and non-renewable policies
Match individuals across data sources without a unique key
Targeted In-house Solutions
Google cloud services used
BigQuery
Compute Engine
Cloud Storage
Cloud Composer
Cloud SQL
