Insurance Analytics

Intense competition, shifting customer loyalties and a stringent regulatory environment are some of the primary imperatives facing insurers. Insurance companies are now under pressure to change their business models, streamline operations and improve process efficiencies.

WNS' insurance analytics solutions span the insurance value chain of property and casualty, life, pensions, and annuity. These solutions are built on deep experience of delivering business insights for several of the world’s leading insurers. We combine domain expertise, strong talent and operational excellence that allow insurers to focus on their core business, while we harness analytics to help them gain a competitive edge.

A leading online US auto insurer saves more than USD 5 Million through fraud detection

Case:

WNS’ analytics solution helped the client reduce applicant misrepresentation, which was leading to lost revenu..

Related To: Insurance Industry General Insurance

A leading U.K. insurance company enhances profitability through improved claims forecasting

Case:

WNS’ analytical models analyzed volume of premiums, which helped predict cash flows. The analysis brought abou..

Related To: Insurance Life Insurance

A U.K. insurance company determines optimal price for customers

Case:

WNS designed an optimal business pricing strategy, which helped understand different drivers of pricing and op..

Related To: General Insurance Insurance Insurance Provider Set-up

The WNS Advantage

WNS is one of the leading providers of analytics services to the insurance industry. Our customer-centric approach, deep insurance domain expertise, global delivery network and strong focus on operational excellence, combined with innovative analytics solutions, enable us to help our clients differentiate in the insurance market.

Serving more than 30 clients ranging from insurers, brokers, loss assessors, self-insured auto fleet owners fraternity
A rich talent pool possessing deep domain expertise, managing core industry-specific processes, besides actuarial and analytics
WNS Analytics Decision Engine (WADE)^SM– a proprietary predictive analytics solution framework to drive better decision-making

" This allows Aviva to continue our working relationship with a provider that truly understands the insurance industry and has a tireless commitment to process excellence and customer care, making WNS our partner of choice. "

Cathryn Riley

Chief Operating Officer, Norwich Union Life, Chairman, Aviva Global Services

A ‘High Performer’ in HfS Research Blueprint Report: Enterprise Analytics Services 2015

Services

Claims Analytics Claim process is a critical component to achieve operational efficiency and provide better customer experience. Improving claims has become important for insurers to protect revenue and profitability. Though fast tracking of claims process improves the customer experience, it can increase the risk of fraud. WNS provides end-to-end claim analytics solutions to accelerate the processing of claims and reduce the risk of fraud.

Fraud Analytics Early detection of fraud is a key challenge for the insurance organizations. Leakages arising out of fraudulent claims and underwriting impact margins. WNS’ comprehensive fraud analytics solution increases the detection rate and accuracy. Our solutions leverage text mining to tap both structured and unstructured data, including claim notes, call center notes, medical reports, police reports, e-mails, and web-based content.

Subrogation Analytics Insurers are using predictive analytics to identify subrogation opportunities and turn to arbitration as the means to resolve disputes. WNS’ subrogation analytics solution increases the yield through the use of advanced text analytics and predictive modeling. Predictive modeling identifies factors that drive successful subrogation recovery based on the data, patterns, business rules and other related characteristics.

Customer Analytics WNS’ customer analytics solutions helps clients acquire new customers, enhance customer engagement with a particular product or service through cross-sell / up-sell propositions

DEEP DIVE

End-to-end Analytics and Decision Support for Insurance Providers

Case Study A Leading Insurer Improves Operational Efficiencies and Accuracy of Actuarial Reporting

Related To: Insurance Actuarial Services Life Insurance Actuarial analytics

Articles Are Closed Books Difficult Chapters for Insurers?

Related To: Insurance General Insurance Premiums Life Insurance

WNS DecisionPoint Managing Growth in a Stringent Regulatory Environment

Related To: Insurance Analytics Solvency II Governance, Risk and Compliance

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