Analytics improves the insurance claim process significantly. It offers several benefits for insurers, customers and other stakeholders. It smoothens, automates and accelerates the claims process. It helps to unearth relevant data to understand customers better, and offers customised services, including customized pricing plans. Insurers can apply analytics to prevent fraud, apply subrogation, pin-point customers at risk of cancellation, treat claims according to its worth, and transform the process.
This infographic lists 10 ways analytics improves the insurance claims process.