We are a Flatworld Solutions company.
Today’s multiple influencers – rising customer expectations, technology disruptors like IoT, technology reducing barriers of entry, fading industry boundaries – are creating dramatic changes in the insurance industry. Perhaps more so than what other industries are experiencing.
With the fast-paced changing world, insurance companies need to be much more agile – to quickly adjust products and make better portfolio decisions based on data and analytics. At Quadratyx, our portfolio of AI and Big Data solutions crosses the broad spectrum of all the insurance value chain. We help clients address their strategic needs and create clear roadmaps for their digital transformation journey.
40%
Drop in number of Case Rejections
Improved Underwriting Efficiency
Reduction in total Underwriting Time
Increased Case Acceptance % & Revenue
A global mortgage company wanted to automate underwriting processes that are manually intensive and difficult to scale to drive company productivity. Quadratyx built intelligent underwriting tool for easy review and pre-approval process for conventional loans :
Case-by-case automation considering income calculations, debt to income ratio, qualifying income calculations, etc.
A leading UK automobile insurance company struggled with the performance of its KPIs (such as Combined Operating Ratio (COR), Estimated Loss Ratio, Conversion Ratio, Claims Frequency). Also, the insurer was unable to make real-time pricing decisions.
Quadratyx built an end-to-end AI software that:
70%
Quicker and real-time
Decision-making
Historical KPI trends to make
Data-informed Decisions
Simulate
Various Scenarios
& its impact
Predictive Models help underwriters work more efficiently
Reduce Acquisition Cost By predicting customer needs
Better control & transparency increase Operational Efficiency
In the world of internet, where competition is only one click away, understanding customer behavior and forecasting insurance policy renewals is crucial for business survival.
Our client, a leading health & vehicle insurance company was facing TWO business problems:
Data from various business processes were analyzed & a potential set of features that influenced customer behavior were selected. Standard and ensemble predictive models were built. Visualizations on prominent factors that influenced renewal behavior were presented – help make policy level decisions.
A leading Indian financial institution (FI) with over 50,000 employees runs a in-house call center, with team of 50. Responds to employee queries regarding employee benefits and related HR policies. Our client wanted to automate the task.
Quadratyx deployed SRIA with other additional features such as:
24/7
365 Days
HR Support Services
Reduce Manual Intervention Maximize Personnel Productivity
Reduces Cost/Contact BOTs handle questions with ease
Customers today seek sophisticated, luxurious and extremely personalized services with custom recommendation tactics. Using the combined power of predictive analytics, NLP and AI in the insurance industry, agents can gain access to the full profile of high value customers. This data can be further analyzed to generate mature insight, accurate predictions on customer preferences and what exact products or offers should be added in their marketing activities.
Validating customer information, generating audit reports, sending out account close notifications – are few scenarios that are tedious and error-prone processes. Automation can play pivotal role in keeping on the right side of the authorities as it essentially replaces the need to devote significant staffing to go through operations to enforce regulatory compliance manually.
Our training courses focus on helping clients understand the core concepts of data science and statistical learning into their relevant industries. We have separate and customized training designed to specific vertical needs for CXOs, Mid-Level executives and Analysts. Our intense classroom training is complemented by e-learning modules that help the audience learn complex topics at their own pace.
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