Banking, Financial Services and Insurance

Banking and financial services firms are tasked with managing the rapid evolution in business models to meet the needs of today’s digital consumer while ensuring structure regulatory compliance and managing risk, security and customer privacy at every stage.

Our advanced analytics solutions help banks and financial firms to support consumer and commercial portfolios as well as traditional banking lines of business. Our expertise includes marketing and risk data analytics solutions offering strategic consulting services.

Financial Analytics

We help financial services companies to acquire, engage and retain profitable customers by applying our advanced analytics capabilities tailored to each business need.

Our financial services analytics have been adopting across four broad functional areas of:

  • Customer Relationships & marketing
  • Profitability & Growth
  • Risk
  • Asset/Liability Management

Fraud Detection

We deliver fraud identification and analysis techniques that have been developed for Financial/Insurance transactions.

Potential situations include:

  • Covering-up for a situation that wasn’t covered under insurance (e.g. drunk driving, performing risky acts, illegal activities etc.)
  • Misrepresenting the context of the incident: This could include transferring the blame to incidents where the insured party is to blame, failure to take agreed-upon safety measures
  • Inflating the impact of the incident: Increasing the estimate of loss incurred either through the addition of unrelated losses (faking losses) or attributing increased cost to the losses

Analytics is emerging as a potent tool for insurers to make more accurate decisions, improving core-insurance processes such as underwriting risk, pricing, and fraud detection, and also helping insurers in customer selection, targeted marketing, and customer retention.

Our data analytics solutions empower insurers to leverage data from across the organization, eliminating application boundaries and silos. This helps fully unleash the power of analytics to drive competitive advantage and business benefits.

Renewal Management

Greatest and most game-changing source of revenue is customer renewals. Renewals are run by distracted new-business reps or untrained non-sales staff.

Our Solutions:

  • Churn Analysis
  • Manage renewals effectively
  • Customer Lifetime Value

Customer Loyalty

Customer Loyalty Analysis will look at all factors driving conversion and retention for each of your customer groups to determine the optimal approach to target and drive loyalty for each customer segment.

Our Solutions:

  • Understand and engage your customers
  • Customer Segmentation

Claim Analysis

Analyze and benchmark your claims data, model potential plan designs, estimate renewal costs and enhance employee decision-making.

Our Solutions:

  • Cost Analysis
  • Fraud Detection
  • Manage Outlier Claims

Product Management

Understanding what users are doing with your product, the first step is instrumenting it with analytics.

Our Solutions:

  • Policy Pricing on Performance
  • Forecast performance in budgets and product demand

Marketing Analysis

Marketing Analysis helps to understand data on your market, customers, competitors, trends, and opportunities.

Our Solutions:

  • Target potential clients
  • Identify purchasing behavior Relevance

Service Center Analytics

Service Center Analytics has ability to measure various performance indicators like agent quality, customer satisfaction, emotion, compliance risk.

Our Solutions:

  • Sentiment Analysis
  • Agent Scoring
  • Topic Mining

Featured Case Studies

Artificial Intelligence for Lending

How a global lending firm reduced operating costs & enterprise risk by using a single Artificial Intelligence based platform for various types of lending

Predictive Marketing Analytics

How a US based large education provider increased lead acquisition and conversion rate using Artificial Intelligence

Financial Fraud Analytics

How a global financial firm builds a strong fraud detection strategy to safeguard customers and reduce financial risk using financial fraud analytics

IoT Analytics

How a US based heavy equipment rentals agency improved equipment utilization and saved costs with predictive maintenance

Sales Forecasting

How a global E-commerce store achieved optimized pricing and identified candidates for various forecasting techniques using sales forecasting

Service Center Analytics

How a global BPO Improved customer retention by analyzing the customer interactions using machine learning and natural language processing techniques

Legacy Data Integration

How a U.S. based insurance company achieved 18% savings in cost and 1% improvement in sales by integrating legacy and complex business applications

Insurance Process Automation

How a large insurance company improved work efficiencies and turnaround time leveraging business process automation