Insurance

Actionable Intelligence for Insurance Providers in Real Time

0 %

Insurance Claims are Fraudulent, Costing USD 80 Bn to Insurance Providers Globally

0 %

Customers do not rate the trustworthiness of their insurance provider highly

0 %

Policies Lapse within the First 3 Years and further 40% Lapse within the First 3 Years

MECBot Embeds Augmented Analytics Capability into the DNA of Insurance Providers

MECBot automates complete data preparation, orchestration, and unification from diverse and disparate sources at scale, and then converts it into a single, smart enterprise graph of business-critical insights.

With MECBot, you can leverage:

  • hidden revenue opportunities unraveled from your enterprise data – both external and internal
  • time-bound, actionable insights on insurance risk concentration and mitigation strategies
  • real-time, evidence-based triggers for early identification of insurance frauds, exceptions & anomalies

Strategic Growth & Profitability

Data-Driven Product Strategy

Effortless Risk Management

Fraud Detection, Control & Management

Reduced Legal & Complaince Burden

Comprehensive Stakeholder Integration

Strategic Growth & Profitability in Insurance Using MECBot

  • Recommendation Engine for Next-to-Buy Products – Cross-sell & Up-sell

  • Personalized Promotional Campaigns

  • Increased Loyalty, NPS, and Customer Lifetime Value (CLV)

  • Customer 360º, Intelligent Micro-Segmentation

  • Differentiated Customer Experience

  • Larger Share of Customer’s Wallet

Data-Driven Product Strategy Across Multiple Insurance Verticals

  • Product Strategy for verticals like Life Insurance,  Auto Insurance, Health Insurance, Property Insurance and others

  • Product Mix & Bundling

  • Performance & Profitability

  • Need-based Product Development

Time-bound, Actionable Insights at Scale for Effortless Risk Management in Insurance

  • Integration of Third Party Databases for Dynamic Risk Assessment

  • Claims Optimization, Leakage Control & Reduced Cost-to-Serve

  • Accurate Risk-based Pricing by Underwriters

  • Stress Testing, Liabilities Valuation, Reinsurance Strategy

  • Identify Coverage Gaps in Customers Segments Early on

  • Comprehensive Lapsation Model from Multivariate Data

MECBot for Insurance

 

  • Identification of the most popular policies is done from unstructured data from chats, emails & voice calls when agents respond online to customers

  • Insights from text data that is derived from voice data as generated by customer service agents using smart text analytics

  • Top policies mentioned in the overall conversation data are then clustered by time, top trends and ngrams 

MECBot has performed advanced text analysis for a leading platform that performs online comparison of insurance policies

text_analysis

MECBot’s Augmented Data Fabric Enables Smart Data Discovery for Insurance

insurance_mecbot1

MECBot’s Augmented Data Fabric Enables Smart Data Discovery for Insurance

Insights

nielsen
FIS
ESPN CRICINFO
Monster Jobs
cloudera

Request a Demo

Please fill in the details below to get a demo.

OR