Insurance Services

We work with insurers to find opportunities that deliver profitable growth while protecting and optimizing their enterprise. Drawing on our deep insurance experience and a new, whole brain analytics approach, we’ll help you unlock new areas of value.

A.I In Insurance

 

Data is at the heart of each Insurance company. For instance, insurers have been using data in underwriting.

For insurance companies, finding and building customer relationships and managing risks are key elements of growing profitable business. In today’s volatile market, insurance claim losses and unprofitable customer relationships can easily overwhelm an insurance provider. 

To transform these potentially costly challenges into opportunities, many insurance companies are harnessing Data Analytics and AI to improve their daily operations. Companies that are making extensive use of Data Analytics and AI are reaping the benefits of increased customer satisfaction and loyalty while decreasing fraud which adds to their bottom line. 

These companies are using Data Analytics and AI for several scenarios including risk management, fraud detection, customer retention, and optimized marketing. Covariance Team, is empowering leading insurance companies to deliver Data-Driven and AI solutions that are changing the industry while supporting the maximization of your customers’ value, minimizing claims risks/costs by incorporating real-time analysis into existing processes. 

Filling health insurance claim

Claims Management

Data-Driven AI is ideal for automating repetitive processes and spotting abnormal behavior that may indicate fraud or other issues. ..

Credit card security

Fraud Detection

AI ideally adapts to fraud detection for insurance claims...

Two creative designers working in workshop

Personalized Product Bundling

Bundling the right product with Data Analytics and AI...

Discussing rate changes

Personalized Rate Management

Customizing Rates based on individual data using Data Analytics and AI..

Calculating business expenses

Underwriting Process Improvement

Customizing Rates based on similar groups using Data Analytics and AI ...

Business team

Customer Retention

Data-Driven AI helps retain valuable insurance customers ...

Marketing Meeting in Office

Enhancing Marketing Strategies

Advanced Customer Insights using Data Analytics and AI...

Analyzing sales

Sales and Channel Assessment

Data-Driven AI assess sales and sales channels ...

Young broker

The Intelligent Broker

Make more informed business decisions with data-driven insights ...

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