Predictive modeling solutions

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Solvency II - Munich Re

Background

Business Analytics

The term "Business Analytics" refers to a number of different statistical methods and techniques for prognosticating events. The objective: to learn from the past in order to predict individual future outcomes. Business Analytics can be utilised to positively influence business development at various points along the value chain. The results include not only cost reduction and enhanced effectiveness, but also improved customer satisfaction.

The main difference between Business Analytics and the conventional methodology of traditional data analysis is the volume of information employed: to gain a complete picture and identify all relevant interactions, the models use more than 100 parameters drawn from existing policies, claims statistics and call centre information. These data are further linked to geographical statistics such as income per postcode. Based on these insights, you can launch precisely targeted measures with an absolute minimum of scatter loss.

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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.