Aumento successfully completes the design of Solution for Analytics and Mobility for a leading Medical Devices manufacturing company.
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Business Intelligence for Insurance Industry

The insurance industry must comply with strict government and industry regulations, and deal with increasing challenges every day. Enterprise systems for the insurance industry must ensure adequate protection of consumer and financial data. In today's rapidly changing business landscape, these systems must also integrate information from various sources and provide up-to-date data for analysis and decisions. Faced with uncertain economics, escalating risk, market competition, strict governance and regulation and demanding customers, insurance professionals must identify and support profitable customers, improve operations and establish and monitor action-oriented business intelligence to understand and improve corporate performance.

The identification and analysis of risk is crucial to the success of an insurance enterprise. Users must have the ability to view and analyze data and to make swift corrections to strategy, processes and objectives with a full understanding of the underwriting strategy, client portfolio and customer demographics, claim analysis and current and planned profitability.

KPI / Analytics for Insurance

True business intelligence (BI) can support, grow and ensure the success of the insurance enterprise and the insurance business user and professional.
  • Sales, Marketing, and Channel Management - Sales, marketing and channel management analysis enables the business user to monitor information from various distribution channels and identify which customers are more profitable and forecast results with complete insight into which channels are the most cost efficient
  • Agent Performance Analysis - Agent performance analysis identifies cost saving opportunities and increases yield. Managers can quickly ascertain which agents have the highest customer retention rates and monitor actual results against plan
  • Claims Analysis - Aumento BI Consulting can help you monitor claims results and look for trends and patterns to detect fraud and risk. Your users can establish automated alerts to notify them of specific issues so the user can take immediate action to resolve problems or determine the root cause before the enterprise misses targets
  • Actuarial and Risk Management - Actuarial and risk management analysis evaluates trends, identifies areas and markets where risk is increasing and enables swift risk analysis with robust reporting, charts, graphs, gauges, alerts and other tools to support decision-making and help the enterprise to mitigate risk

Aumento BI Implementation for Insurance - Benefits at a Glance
  • Increase value of investment with full insight into costs, performance and risk
  • Provide business performance measurement tool for executives and managers
  • Identify problem areas, improve customer satisfaction and boost investor confidence
  • Assist in cost control, resource allocation and operational management
  • Ensure accurate, timely decision-making with granular, enterprise-wide information, graphical displays and personalized dashboards and alerts to provide up-to-date information and simple analysis
  • Monitor and manage sales related KPI for insurance like sales targets, agents and channels with a complete picture of results and issues
  • Strengthen customer/agent loyalty by offering client value in the form of policy and claims information in personalized reports
  • Monitor claims by geography, business area, customer, product, type and handler to help scrutinize false claims and identify issues
  • Identify and take corrective measures for inefficiencies, process issues, and under performance using KPI for Insurance and metrics
  • Sustain complete operational insight at all times
  • Calculate and adapt pricing and strategies based on accurate forecasts and trends
  • Deliver relevant, concise information to policyholders, regulators and business users
  • Align performance with strategy and objectives and enforce accountability
  • Monitor and report claim performance with KPI for Insurance
  • Balance the risk involved with business and growth while maintaining regulatory compliance
  • Leverage investments in existing resources and infrastructure by integrating data from existing sources
  • Meet regulatory requirements with timely accurate information
  • Produce BI Reports for management on branch performance, customer demographics and other factors
  • Provide a 360° view of customer profiles, products, services, regions, sales, marketing and other information
  • Assess all aspects of organization performance, e.g., income, profit, customer satisfaction, flexibility, transformation and growth
  • Perform profit analysis, find and retain the most profitable customers, develop and analyze services and locations, and manage risk
  • Create a simple, intuitive reports, standardize portfolio and credit analysis; and achieve full insight into financial and operational results, claims adjustment and management, overhead costs and fraud and risk management