Insurance companies are constantly seeking ways to expand their understanding of customers, their behaviour, purchase patterns, and claims.
Comprehensive customer profiling with predictions based on historical analysis help insurers arrive at a premium that increases profitability and at the same time provide value to customers.
With disparate data sources at multiple locations, the challenge for any insurance company lies in its ability to get insights from highly fragmented data. Legacy systems, outdated data formats, poor data quality and newer unstructured data sources complicate this problem.
Scalend has been working with insurance marketers and actuaries, helping them make sense of not only customer data, but also offering the ability to quickly iterate through different experiments for new product development.