Insurance: the profitability of every group, in real time.
A group insurer calculated the profitability of its groups by hand. It now sees it in real time.
Knowing the profitability of every group, in real time.
The problem
The insurer calculated the allocation by group and the profitability of each of its groups by hand.
The data it needed was split between its claims system and an internal application that served as both ERP and invoicing.
We connected these systems and sync them into one place. Teams keep their current tools.
- Claims system
- Internal application (ERP)
- Invoicing
We agreed with the insurer on the definitions used to calculate a group's profitability, down to insureds and their dependents.
- Group
- Insured
- Dependent
- Claim
- Invoice
- Payment
On that context, we delivered a complete analytics solution that draws on every source.
- Smart dashboards → The profitability of each group, in real time, from claims, invoices and payments.
- Automated actuarial calculations → Group allocation and profitability are calculated automatically instead of being redone by hand.
- Simulation tools Evaluating a group by changing adjustable parameters, before making a decision.
Results
The insurer now calculates the profitability of each of its groups in real time, with no manual calculation.
Tell us about your calculations.
Tell us which calculations you redo by hand and which systems hold the data. We'll start there.