Data Analytics Solutions for Claims Management
Increase efficiency and reduce costs with our data analytics consultation
Global Consulting improves the claims management processes
Our Claims solutions are then positioned to focus directly on your questions:
- Is my data sufficient enough to apply adequate analytics solutions?
- What are the most relevant drivers for different cost types?
- How can I better monitor the development and performance of my claims portfolio over the time?
- Which claims are likely to be fraudulent?
- Which claims can I accept/reject without manual assessment?
- Can I improve practices by identifying trends over time?
- Which risks are most likely to see a loss in the near future?
- Can external data help to make the on-boarding of new customers leaner?
Use Cases - Our straightforward processes get results:
The basis for detecting cost drivers in claims is a comprehensive analysis of your current portfolio. We prepare your data for transparency on all relevant customer and product segments. You can detect trends, anomalies and systematic problems of claims handling in order to conduct more granular inspections.
Claims Cockpit, our dynamic dashboard which evaluates your claims data form in a multitude of perspectives. The advanced dashboards also allow proactive steering through up-to-date data at all times and act as early warning systems. This also helps you in identify trends/differences in customer segments, monitor your agents and assess performance of different sales channels and portfolio segments.
Keep an eye on the right claims and get support setting up a predictive model for claims approval probability.
You can increase processing speed and accuracy by automatically processing routine claims and enabling staff to concentrate on heavy-impact claims. Finally pattern will be identified to boost an automatic system of processing claims.
Understanding fraud likelihood for each claim enables ranking and reduces the workload for your fraud specialists. As your sparring partner we offer support to implement more streamlined processes which will help you to increase your fraud detection in a timelier fashion and avoid paying unfair claims. We have a proven track record in the implementation of external fraud detection software.
Our experts can help you assess how text mining could be applied to your claims documents and thus help you to utilize the additional information.
An analysis of any unstructured data can bring a new level of understanding to your decision-making and help build a more comprehensive multi-channeled scrutiny of all of your claims material.