Key applications of predictive analytics in insurance
Fraud Detection
Identifies suspicious patterns in claims to flag potential fraud.
Claims Management
Predicts claim escalation likelihood to streamline resolution.
Catastrophe Modeling
Assesses disaster impacts for better policy design, like industrial all risk policies.
Operational Efficiency
Enhances customer experience and reduces administrative overheads.
Big Data Integration
Transforms specialized insurance products like construction and erection all risk insurance.
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