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August 6, 2024
Insurance
Scandic Fusion has experience with implementing BI solutions for both non-life and life insurance companies and business units.
ANALYTICAL METRICS
The data marts typically required by our customers enable product-specific insight of MTPL, CASCO, property, travel, accident, health and civil liability insurance types among others.
The commonly used analytical metrics include such insurance industry relevant measures as:
- Gross written premiums
- Earned/unearned premiums in time
- Submitted/processed/paid claim amounts
- Loss ratio
- Regulated-unpaid and other potential payments outstanding
- Various insurance specific financial reserves in time
SOLUTIONS
Typically, our customers prefer to have their insurance analytics bundled together with several cross-company solutions, including, but not limited to:
- Master data management
- Data mining and financial analytics
DASHBOARDS
Interactive dashboards, which often serve as an end product for the BI users can afterwards support the everyday business decisions for various functions such as: sales, claims administration, product managers and risk underwriters, actuaries, business controllers, accountants, general management and others.
- Sales
- Claims administration
- Product managers and risk underwriters
- Actuaries
- Business controllers
- Accountants
- General management
- Others
Relevant areas of analysis
Policies and claims
- Gross written premium
- Unused premium reserve
- RBNS reserve
- Payout
- Drilldown to risk premiums and insurance type
- Calculated amounts (derived KPIs)
- Sales budget
Claims management
- Activity monitoring
- Handling time
- Reserves and regresses
Actuaries
- Solvency II
- Insured amounts with drilldown to risk & insurance type level
Accumulated capital for life insurance
- Investment analysis
- Accumulated capital history tracking
Reinsurance
- Profitability
- Risk profile
- Reinsurance contract
Want to learn more?
