{"id":2231,"date":"2023-09-04T21:06:18","date_gmt":"2023-09-04T21:06:18","guid":{"rendered":"https:\/\/exalttechsoft.com\/demo\/?page_id=2231"},"modified":"2023-09-04T21:06:21","modified_gmt":"2023-09-04T21:06:21","slug":"insurance","status":"publish","type":"page","link":"https:\/\/procurementpowerai.com\/insurance\/","title":{"rendered":"Insurance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2231\" class=\"elementor elementor-2231\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-76f07659 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"76f07659\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-276af523\" data-id=\"276af523\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-188326f elementor-widget elementor-widget-heading\" data-id=\"188326f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Insurance<br><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-143d56a7 elementor-widget elementor-widget-text-editor\" data-id=\"143d56a7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Data analytics creates new possibilities that can empower insurers to optimize every function in the insurance value chain with the help of data-driven decision making.<\/p><p>AI in insurance utilizes behaviour-based analytics and credit scores to determine which of the customers are bound to pay their bills on time.<\/p><p>It can also detect fraudulent activities and hence using data for determining the right and trustworthy customers is shaping the digital transformation of insurance companies.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-259df210\" data-id=\"259df210\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cf32332 elementor-widget elementor-widget-image\" data-id=\"cf32332\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"400\" src=\"https:\/\/procurementpowerai.com\/wp-content\/uploads\/2023\/09\/1524832922988.jpg\" class=\"attachment-large size-large wp-image-2233\" alt=\"\" srcset=\"https:\/\/procurementpowerai.com\/wp-content\/uploads\/2023\/09\/1524832922988.jpg 650w, https:\/\/procurementpowerai.com\/wp-content\/uploads\/2023\/09\/1524832922988-300x187.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-764061a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"764061a4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f331008\" data-id=\"3f331008\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d6a8133 elementor-widget elementor-widget-text-editor\" data-id=\"d6a8133\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tBig Data makes the insurance industry perfect for data analytics to construct basic patterns, get fundamental insights about the insurance business and manage the complex relations between agents and clients.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48ad8d14 elementor-widget elementor-widget-heading\" data-id=\"48ad8d14\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><strong style=\"font-weight: bold;font-family: Helvetica, sans-serif;font-size: 20px;text-align: center\">The top use cases where data analytics can help insurers are\n<\/strong><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-174e0f43 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"174e0f43\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">To develop an enhanced customer experience<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Design products based on customer behaviour<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">To improve Risk Management Strategy<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Minimize the risk of insurance fraud<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-49cba774 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"49cba774\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3c5ca2da\" data-id=\"3c5ca2da\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-351eff8f elementor-widget elementor-widget-treck-service\" data-id=\"351eff8f\" data-element_type=\"widget\" data-widget_type=\"treck-service.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t<!--Coaching Four Start-->\r\n\t<section class=\"coaching-four\">\r\n\t\t<div class=\"container\">\r\n\t\t\t<div class=\"row\">\r\n\t\t\t\t\t\t\t\t\t<!--Coaching Four Single Start-->\r\n\t\t\t\t\t<div class=\"col-xl-4 col-lg-4 wow fadeInUp\" data-wow-delay=\"100ms\">\r\n\t\t\t\t\t\t<div class=\"coaching-three__single\">\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__img\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__img-content\">\r\n\t\t\t\t\t\t\t\t\t<p class=\"\">Default Tag Line<\/p>\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__hover\">\r\n\t\t\t\t\t\t\t\t\t<p class=\" \">Default Tag Line<\/p>\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__arrow\">\r\n\t\t\t\t\t\t\t\t\t\t<a href=\"#\">\r\n\t\t\t\t\t\t\t\t\t\t\t<span aria-hidden=\"true\" class=\"  icon-up-right\"><\/span>\t\t\t\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__content\">\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__title-box\">\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"coaching-three__title\">\r\n\t\t\t\t\t\t\t\t\t\t<a class=\"\" href=\"#\"  >Insurance Pricing\n<\/a>\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<p class=\"coaching-three__text\">Models based on comparing cost Vs risk can help customers in selecting the right insurer\n\n<\/p>\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<!--Coaching Four Single End-->\r\n\t\t\t\t\t\t\t\t\t<!--Coaching Four Single Start-->\r\n\t\t\t\t\t<div class=\"col-xl-4 col-lg-4 wow fadeInUp\" data-wow-delay=\"200ms\">\r\n\t\t\t\t\t\t<div class=\"coaching-three__single\">\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__img\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__img-content\">\r\n\t\t\t\t\t\t\t\t\t<p class=\"  \">Default Tag Line<\/p>\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__hover\">\r\n\t\t\t\t\t\t\t\t\t<p class=\"   \">Default Tag Line<\/p>\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__arrow\">\r\n\t\t\t\t\t\t\t\t\t\t<a href=\"#\">\r\n\t\t\t\t\t\t\t\t\t\t\t<span aria-hidden=\"true\" class=\"  icon-up-right\"><\/span>\t\t\t\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__content\">\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__title-box\">\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"coaching-three__title\">\r\n\t\t\t\t\t\t\t\t\t\t<a class=\" \" href=\"#\"  >Claim Payment Automation Modelling\n<\/a>\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<p class=\"coaching-three__text coaching-three__text\">Build robust pricing models using the predicted developed loss for each claim\n\n<\/p>\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<!--Coaching Four Single End-->\r\n\t\t\t\t\t\t\t\t\t<!--Coaching Four Single Start-->\r\n\t\t\t\t\t<div class=\"col-xl-4 col-lg-4 wow fadeInUp\" data-wow-delay=\"300ms\">\r\n\t\t\t\t\t\t<div class=\"coaching-three__single\">\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__img\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__img-content\">\r\n\t\t\t\t\t\t\t\t\t<p class=\"    \">Default Tag Line<\/p>\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__hover\">\r\n\t\t\t\t\t\t\t\t\t<p class=\"     \">Default Tag Line<\/p>\t\t\t\t\t\t\t\t\t<div class=\"coaching-three__arrow\">\r\n\t\t\t\t\t\t\t\t\t\t<a href=\"#\">\r\n\t\t\t\t\t\t\t\t\t\t\t<span aria-hidden=\"true\" class=\"  icon-up-right\"><\/span>\t\t\t\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"coaching-three__content\">\r\n\t\t\t\t\t\t\t\t<div class=\"coaching-three__title-box\">\r\n\t\t\t\t\t\t\t\t\t<h3 class=\"coaching-three__title\">\r\n\t\t\t\t\t\t\t\t\t\t<a class=\"  \" href=\"#\"  >Claim Development Modelling\n<\/a>\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<p class=\"coaching-three__text coaching-three__text coaching-three__text\">Automatic predictive model to determine the final value of the claim amount\n\n\n<br><\/p>\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<!--Coaching Four Single End-->\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t<\/section>\r\n\t<!--Coaching Four End-->\r\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36620afb elementor-widget elementor-widget-heading\" data-id=\"36620afb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h3 class=\"elementor-image-box-title\" style=\"padding: 0px;margin-bottom: 0.5em;font-family: Helvetica, sans-serif;font-weight: 600;font-size: 24px;line-height: 1.4;text-align: center\">AI in Insurance<\/h3><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d784482 elementor-widget elementor-widget-text-editor\" data-id=\"2d784482\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tInsurance companies who invest in big data analytics have seen 30% more efficiency, 40-70% cost savings thus benefiting both the customer and the insurer.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52af1ab5 elementor-widget elementor-widget-heading\" data-id=\"52af1ab5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><h3 class=\"elementor-image-box-title\" style=\"padding: 0px;margin-bottom: 0.5em;font-family: Helvetica, sans-serif;font-weight: 600;font-size: 24px;line-height: 1.4;text-align: center\">Take the next step<\/h3><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-30997b4f elementor-widget elementor-widget-text-editor\" data-id=\"30997b4f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tOur data experts run a series of consultations with your organisation to help understand your existing data processes and requirements. They translate the task into a concrete problem, figure out which data analysis services will be best suited to solve your problem and then form a comprehensive strategy to give a perfect solution to the task at hand.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7325e2f4 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7325e2f4\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get Started Now!<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Insurance Data analytics creates new possibilities that can empower insurers to optimize every function in the insurance value chain with the help of data-driven decision making. AI in insurance utilizes behaviour-based analytics and credit scores to determine which of the customers are bound to pay their bills on time. It can also detect fraudulent activities [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-2231","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/pages\/2231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/comments?post=2231"}],"version-history":[{"count":2,"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/pages\/2231\/revisions"}],"predecessor-version":[{"id":2235,"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/pages\/2231\/revisions\/2235"}],"wp:attachment":[{"href":"https:\/\/procurementpowerai.com\/wp-json\/wp\/v2\/media?parent=2231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}