Policy & Claims Analytics

PROVIDER: INCORTA

BUSINESS FUNCTION: Cross Function

DATA SOURCE: Guidewire

Policy and Claims - Advanced Analytics for you P&C platform via Incorta

Until now, the reporting needed to understand and optimize new line-of-business products—and integrate other data sources as they arose—demanded an analytics agility most Property and Casualty (P&C) insurers wanted, but couldn’t achieve.

With no data modeling or ETL required. Users get instant access to up-to-date, consolidated policy and claims data, and can build all of the high-performance reports they need—on their own—without waiting for IT support.

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Pre-Built Incorta Content Accelerates Your Policy and Claims Analytics Initiatives

Quickly unify data across policy, claims, and billing systems in order to:

improve cross sell/up sell conversion rates by analyzing policies across accounts and policyholders;
analyze general premium data comprised of the key fiscal year premium and loss performance indicators like Written and Earned Premium—along with the associated incurred loss components (loss payments and total Incurred losses) for the year—while calculating a Loss Ratio for the Year;
understand the annual financial history through “Written” and “Earned” premiums for both new business and renewals at the end of the accounting period; and
easily drill down to Company, Line Division, Line of Business, Product, and Coverage levels.

Sample Reports & Metrics

FINANCIAL OVERVIEW

In Force and Unearned Premium Trending and Summary
Written and Earned Premium Trending and Summary
In Force Premium Metric
YTD Written Premium Metric
Retention and Lost Business
Analysis

OPERATIONAL KPIS

New Business
Retention Analysis
Cross Sell/Up Sell Analysis
Inforce Book Average Age
Inforce and Unearned Premium Trending and Summary
Cancellation Monitoring
Regional Coverage Analysis
Lost Business Analysis
At-Risk Submissions and Renewals Analysis
Activity, Planning, and Performance
Audit Analysis
Account Evaluation
Tenure Retention Analysis
Sales Channel Performance Monitoring
Premium Transaction Allocation Summary and Summary by Day
Product Offering and Customer Behavior

COMMON DASHBOARDS

Marketing Results
Large New Business Alerting
General Premium Summary
Executive Dashboard

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