What if insurance underwriters or the underwriting processes could look into the past at a more detailed level and predict exactly how a risk would perform in the future? What If underwriters were provided with a solution that would provide meaningful insight into customers’ risk characteristics? Data analytics, data mining and predictive modeling can provide this ability to enhance business processes and improve profits for Insurance companies.
Our experienced technical team recently pulled together a white paper on this topic. These guys have worked with one of the largest personal property insurers in the country for several years, and have loads of experience in implementing cost-saving solutions for this industry. In this paper, they discuss auto and property/casualty insurance underwriting, how big data analytics can influence an increase in sales and revenues for companies and introduce a high level Microsoft based solution implementation that can solve this business problem.