Learn how insurance organizations can leverage FastTrack Analytics to improve financial, underwriting, agent & customer service operations. Use your data to gain competitive advantage in challenging economic times.
14. Why Analytics for Insurance? Why should I be considering analytics? Enhanced customer service, extendable to Agents Move from avalanche of data to actionable information Ad-hoc capabilities, remove the need for IT Analyzing information vs. searching for data Self-service access to key data points Visual hotspots, no more searching reports
15. FastTrack! Analytics – Insurance Focus Areas Build on the core dimensions by adding others to address specific business questions in one of these areas: Customer Service (Policy status, cash value, complementing products) Operations(Efficiency, Planning, Forecasting, Quality Metrics) Core Dimensions: Policy, Product, Client, Group, Eligibility, Claim Core Metrics: Sales, Persistency, Status, Premiums. Losses Agency(Products across region, TPA tracking, Agency production, Lapse rates, license / appointment tracking) Actuarial (Product types by region, profitability, rates) Finance(Planning and Budgeting Metrics, Customer or Item Profitability) Underwriting(Policy Status, Time to Issue, Declination rates, Replacements)
82. Extending FastTrack! Analytics The FastTrack! Analytics pilot can be extended in many different ways towards the creation of an enterprise analytics platform More Sophisticated Analytics Extended to Other Departments Additional Integrated Subject Areas Additional Users/Roles More Analytical Views Expanded Metrics Additional Data Sets Expanded Dimensions