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Data analytics consulting

Tailor-made solutions across the insurance value chain

Global Consulting supports leading-edge data analytics

Digitalisation continues to play a key role in the insurance industry. An even vaster pool of structured and unstructured data is available than was the case just a few years ago. This trend is accompanied by a need for enhancements in infrastructure and the computational power to store and handle very large volumes of data, as well as sophisticated algorithms for its analysis.

In this fast-changing environment, we are your competent partner. Our experts combine their experience in primary insurance with their knowledge of data science and advanced analytics to deliver end-to-end support that encompasses modern pricing strategies.

Our offer includes, but is not limited to:

  • Smart household value propositions can leverage on advanced geospatial analytics.
  • Technical excellence is also driven by the identification of new rating factors. A novel, promising approach is to develop an isolation index.
  • This “remoteness” score is based on the actual travel times between the written risks of a portfolio, and a selection of points of interests (POI).
  • The set of POI is fully customizable, once the risks have been geo-located accurately. This analysis translates into a bespoke solution for the most competitive players.
  • Complement existing underwriting and claims processes with geospatial analytics.
  • Easily and reliably assess the risks to your portfolio from natural hazards and support with comprehensive and transparent business insights.
  • Turn risk into resilience through climate risk score analysis that can deliver more insights about the estimated climate impacts and identify opportunitiess simultaneously.
  • Develop bespoke rating factors using geospatial data and remote sensing techniques to improve technical modelling, underwriting assessment and claims management.
  • Increase efficiency of the claims notification and assessment process which has a direct positive impact on claimants and assessors in the motor insurance industry.
  • Make claims assessment effortless, fast and user friendly with AI: Streamlines photo capturing process, digitalization of FNOL, digitize and optimize the process to enable efficiencies, and mitigate fraud.
  • Significantly reduce time spent on claim payouts, optimize claims triage process, save time & allow assessors to focus on more complex claims.
  • Speed up the digitalization journey and financial transactions.
  • Design the solution using cutting-edge deep-learning architectures to be able to automatically detect damage levels, damage types, and loss estimates.
  • Artificial Intelligence based fraud propensity scoring, which can aid in better claims triage and claims process management.
  • Machine Learning based models for identifying top fraud variables and generating fraud rules.
  • Network analysis and collusion detection, e.g. between agents and workshops.
  • Case management for claims process optimization post fraud detection.
  • Use of hybrid collaborative filtering models to generate propensity scores for product purchases across millions of customers and hundreds of products.
  • Deep-learning based models for generating propensity to purchase for specific lines of products.
  • Provide Advanced Analytics and Machine Learning services using Munich Re’s analytics platforms.

Would you like to know more?
Get in touch with our experts today.

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