Data for Insurance Question #1 How many of you have More than 200 - - PowerPoint PPT Presentation

Next Generation Data for Insurance

Question #1

More than 200 LinkedIn contacts? An email address that has been active for more than 5 years? A private Facebook or Twitter Profile?

How many of you have…

You are very un unlikely likely to commit insurance fraud

Question #2

Very low customer rating scores Negative employee reviews Limited social media presence

How likely is a restaurant to file a claim with the following:

Very lik likely ely to file a claim within 12 months

4

The social web & next gen data is the foundation for the rating factors and underwriting rules of the future

SOCIAL & WEB ALTERNATIVE DATA INSURANCE CARRIER

SCORES DATA TOOLS

The Next Generation Data Company

Use Cases Across Entire Policy Lifecycle

Lead scoring Policy acquisition Offer incentives Fast track purchase Accelerate underwriting Report avoidance Fast track payments Investigation avoidance Offer discounts Report avoidance Product Development Portfolio Management Mark rketing ting Qu Quote te Is Issue ue Policy icy File e Claim Renew MEASURABLE ROI ACROSS THE POLICY LIFE CYCLE

BUSINESS PROFILE BUSINESS CHARACTERISTICS NEXT GEN DATA ATTRIBUTES LOSS PREDICTION

Commercial Data

Claims Activity Process

11

Claims Activity Alert

Top 5 P&C Carrier

CLAIMANTS COST FLAGGED AVERAGE CLAIM COST REDUCTION

• 1. DATA
• 2. LIKELY FRAUD
• 3. SAVINGS

50k

250k $

5k

$

3% 7.5m+

$

$5/CLAIM 750 CLAIMANTS

MILLION SAVED

ROI-30x

ROI Case Study

Why does this matter to reinsurers?

• Accurate risk classification and pricing for underlying risks within a

treaty can create significant reinsurance premium uplift

• Primary claims fraud reduction protects both specific, facultative

and aggregate reinsurance layers

Next gen data & the rating factors of the future transforms risk for entire insurance industry

Next Generation Data for Insurance