Insurance Analytics Solutions
The insurance industry is full with information prepared for reporting and analytics. Claims, pay outs, bonuses, and strategies. However, preparing partners in your organization to sufficiently analyze and use that information in a well-timed manner has been a dare. Each day, senior managers in the insurance industry must make difficult, business-critical selections that take into account an extensive array of performance metrics and market knowledge. Bilytica Insurance Analytics provide with interactive reporting tools that combine the important data and provide with quick understandings to estimate future payments. The reports produced can be modified as per your needs and wants.
We can help you to:
- Understand how your business organization is performing.
- Investigate claims patterns to recognize probable fraud.
- Monitor claims processing status.
- Generate reports for revenue comparisons.
- Create estimating models that let you intuitively explore situations.
- Evaluate general portfolio risk profile in single dashboard.
Does a claim submitted by a physician have a different claim paid ratio than those give in to by phone or web? You bet. Is it appreciated to dig into these modifications to make more up-to-date decisions? Absolutely.
Do not stop there. Combine this claims information with other significant data.
Understandings such as these, demonstrated in the visualization to the right, help managers, agents and supervisors alike rapidly identify where they can improve call center resources, and identify possibly fraudulent designs.
Click on the visualization to see how claims status varies by region and how the claim was initiated.
Using ancient data to estimate future payments is not new. But making an interactive report that enables quick understanding to forecast these expenses is not a common feature in most insurance reporting tools.
By using Bilytica’s solutions you can make an interactive report that is accurate for your needs, you can rapidly be evaluating your decisions and future budgets, not waiting for a new round of analysis.
Report show how expected costs for a manager could differ based on some factors. Gender, age, region all affect estimated costs.
Click on the visualization to adjust these criteria and others to see historic trends and projected costs.
Fraud detection is also a feature of Bilytica’s Insurance Analytics. With the help of many conceptions, Bilytica Insurance Analytics assist you in outlining the outliers and any kind of doubtful data patterns in a planned and timely manner. Bilytica Insurance Analytics Solutions helps in producing reports which are used for income comparisons which is also an important for business in order for them to make forward-thinking decisions. These reports produced not only highlight the minimum and maximum pay outs but also group codes alphabetically to define a region of interest.
Click into this report and adjust the filters to find claims that fall outside normal bands. Where would you focus your investigators?
Year-to-year evaluations are a basic, but essential element to insurance analysis. Managers, sponsors and agents alike depend on ancient data to gather intelligence for forward-looking decisions.
In this report, you can select a set of codes then determine a region of interest. Using the scroll bar, any claims code can be studied at a look. The influence of a straightforward, yet interactive time series report such as this gives more information much faster than could be collected in a table.
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