Insurance Industry
Overview
Insurify Overview

View Links Insurify empowers P&C insurance carriers with an operational intelligence solution to uncover customer value and its activities in order to increase profitability and reduce risks. The Insurify solution focuses on providing real time decision support along the entire process of Underwriting, Claims Processing and Claims Investigation.

Insurify analyzes multiple internal and external data sources and activate cleansing algorithms to improve its quality. Insurify identifies patterns and correlations even with a limited number of transactions and links seemingly unrelated data to achieve superior results for its users.

Insurify Overview
Personalized Underwriting
Claims Processing Controls
SIU: Special Investigations
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Benefits
View Links Insurify improves operational efficiency, allowing:


Underwriters: Reduce the acceptance of negative value customers with accurate personalized customer view across insurance segments.


Claim Adjusters: Prioritized claims processing with comprehensive customer view and early fraud detection.


SIU Managers: Integrated visual investigation suite. Retrieve historic data, correlate and link local and enterprise information sources into a single case file.


Managers: Quality measurements, balance workload, sales goals simulation and personalized damage estimation.


Reduced training with uniform methodology and processes.


With Insurify the insurance organization obtains new insights on its customers and can enhance the operations to optimize procedures and improve profitability.
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How does it work

The Insurify application is a modular four-tier solution that provides:


Data pulling and data cleansing


Rule-based engine applying dynamic algorithms and built-in rule knowledge sets for P&C Insurance segment (Auto, Home, Commercial Property).


Comprehensive operational tools and visual investigation methodologies.


Simulation and Analytics.

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Personalized Underwriting
Insurify provides underwriters a comprehensive "customer view" for policy application and renewal. Insurify prioritizes all pending applications with the appropriate alerts highlighting relevant entities (e.g. Customer, Car/home/business, Third Party etc.) and immediately filtering "problematic" policies and applications. Underwrites can drill down into each application and receive a clear explanation for the alert reasoning, retrieve additional information on historical policies and claims and review premiums and payments paid across insurance segments (Auto, Home, Commercial etc.) to the customer and other service providers (Doctors, Lawyers, Investigators). Insurify can easily be integrated to the Policy Administration system to increasing the efficiency of the overall underwriting process.


Claims Processing Controls
Insurify provides automated alerts for all claims allowing instant focus on high alert claims. High alerts can indicate potentially fraudulent claims or very important customers that should be handled with priority. Adjusters can drill down into each claim and receive a plain explanation for the results. A comprehensive claims view gathers historical data from multiple sources, with the ability to drill down and retrieve necessary details to support the decision making process.

As a result, claim Adjusters are more efficient, detect fraudulent claims earlier, good customer claims are released faster to improve customer retention and appropriate cases are forwarded to the SIU for further investigation. Insurify can easily be integrated to the Claims Processing application sharing alerts and increasing the efficiency of the overall process.


SIU: Special Investigations
Insurify offers an integrated investigation tool and methodology for Special Investigation Units (SIU). Insurify utilizes link analysis algorithms to visualize and map the relationships of each high alert entity to other entities. The advanced user interface shows networks graphically, through timelines and hierarchies. VIA supports short and long investigation processes with abilities to integrate all relevant data (images, video, documents, e-mails, raw text etc.) into a single logical case file maintained locally or on a shared server accessible throughout the application. By linking expertise and experience in investigation management and decision-support with intelligent data-mining technologies, Insurify supports its users through the entire investigation process. As a result improved settlement results are achieved together with more efficient and faster investigations.