Managing risk is a blend of art and science. Don’t forget the data science.

Insurance

Data science is the next evolution for the insurance industry. Only those who take a revolutionary approach to data science will define the path ahead.

Solutions for…

  • Accident & health
  • Life (life insurance, annuities, pension products)
  • Property & casualty
  • Surety & title

Market Challenges & Opportunities

Effective risk modeling is the core requirement that unites the diverse insurance industry. Reliable models enable accurate risk-based pricing, low loss ratios, and profitable growth. Strong marketing, sales, and distribution capabilities and collaboration are also essential. Even insurers that manage these factors effectively must still contend with competition — increasingly from new technologies (“InsurTech”). InsurTech simultaneously enables growth and empowers competitors. In this environment, Big Data analytics that delivers rapid time-to-results is not optional. It is essential.

Solution IPC Can Help

Signal Hub helps insurers dramatically extend and sharpen their Big Data analytics capabilities while substantially increasing analytics throughput and collapsing time-to-results. Signal Hub enables more sophisticated underwriting capabilities through more granular understanding of the sources, probability, and financial impact of risk. It delivers greater insight into risk drivers, improving claims management. It also helps diversify and optimize the mix of customers, products underwritten, and distribution channels, enabling new business models, strengthening the revenue base, and lowering cost-to-serve. Signal Hub delivers sustainable competitive advantage.

Solution Overview

Analyze & Manage Risk

Let advanced data science and machine learning transform risk into profitable growth.

Signal Hub gives insurers a competitive edge by using data science and machine learning to impart more precision and dynamism to their risk models.
 
 

How it delivers value:

  • Augments insurers’ existing risk modeling, pricing, and management methodologies to maximize financial returns for any targeted risk profile
  • Accelerates insurers’ ability to shift from protection-based to prevention-based business models
  • Helps insurers increase operational efficiency, drive product innovation, and more effectively manage risk on a continuously improving basis via machine learning
  • Facilitates entry intro new insurance product categories, business situations, customer segments, industry segments, and geographies
  • Strengthens competitive positioning and differentiation, helping industry incumbents successfully counter new market entrants with non-traditional business models, products, and services (e.g., peer-to-peer insurance, pay-as-you-go models)
Optimize Pricing

Balance risk profile and profitability goals across your portfolio.

Signal Hub helps insurers drive greater profitability by imparting more precision in risk-based pricing. Augment your existing pricing methodologies with the power of advanced data science and machine learning

How it delivers value:

  • Enables more granularity and flexibility in pricing models, enhancing risk margin calculations
  • Enhances business agility, leading to more effective customer acquisition, larger market share within and across product categories, and lower risk of loss  
  • Improves the accuracy and sophistication of dynamic insurance pricing models
  • Establishes a dynamic pricing capability based on continuous testing, learning, and adjustment, supported by advanced machine learning techniques
  • Intelligently sets prices and guides pricing strategies, helping insurers accelerate revenue growth, improve profitability and adapt quickly to changing market conditions over time
  • Accelerates insurers’ ability to incorporate technology innovation (“InsurTech”) into products and services (e.g., opt-in monitoring to enable customized pricing)
  • Improves insurers’ ability to comply with current and emerging industry standards and regulations (e.g., ICS)
Personalize at Scale

Tailor, recommend, and deliver coverage across all modes of the individual’s life.

Signal Hub helps insurers engage with consumers more effectively, using highly tailored communications and channels that they favor, building the foundation for an enduring and mutually beneficial relationship.

How it delivers value:

  • Builds a profitable and loyal portfolio of customers, one interaction at a time
  • Helps insurers develop market offerings, promotions, and service experiences tailored to the interests and needs of specific customer segments and sub-segments on a massive scale
  • Provides a holistic view of the aggregate customer experience, from initial interaction, to adoption of the first insurance product, to adoption of multiple subsequent products as the customer’s needs change over time
  • Enables insurers and intermediaries to compete more effectively on the basis of service quality
  • Allows insurers and intermediaries to analyze consumer utilization of products, learn what is and isn’t working, and make subsequent adjustments to optimize results
Improve CLV

Optimize the entire customer journey.

Signal Hub disaggregates the customer’s journey across the stages of the customer relationship and usage of insurance products, then reassembles it in an application that enables intuitive, precise measurement and intervention, helping insurers orchestrate the entire customer experience.

How it delivers value:

  • Provides a single analytics environment that integrates customer management analytics across the product life cycle and portfolio
  • Defines and validates customer personas and associated needs at a deeply granular level of detail, enabling micro-segmentation, precision targeting, and preemptive action
  • Allows insurers to more successfully market additional insurance products, increasing the number of products per customer and strengthening loyalty
  • Orchestrates multi-channel treatments that leverage all customer touchpoints
  • Helps deliver a positive customer experience at every stage of the lifecycle
  • Proactively seeks monetization opportunities to expand customer lifetime value (CLV)
More...

Improve bottom-line results with advanced analytics.

Signal Hub improves performance of nearly all critical activities in the insurance industry, including efficiency, insight, and customer satisfaction, and allows insurers to manage risk more effectively, overtake competitors, and accelerate profitable growth.

 

  • Capital Adequacy Compliance Management
  • Capital Planning and Stress-testing
  • Customer Care Optimization
  • Liquidity and Margin Optimization
  • Customer Acquisition
  • Fraud Detection and Mitigation
  • Consumer Spend Maximization
  • Campaign Optimization
  • Churn Reduction
  • Customer Care Optimization
  • Competitor Intelligence
  • Preemptive Risk Management
  • Risk-based Pricing
  • Underwriting Risk Modeling and Credit Policy Formulation

Solutions for...

  • Agents
  • Brokers

Market Challenges & Opportunities

Brokers and agents form the essential distribution and sales channel for insurance products and services and face customers every day. Big Data analytics can help them capture the initial sale and shape the customer experience over the life of the relationship, driving underwriting volume and revenue. Analytics must also satisfy customer needs through policy coverage and claims payments while minimizing claims losses and fraud. To drive these business outcomes, insurers must utilize an efficient approach to data science, rapidly delivering accurate results on a massive scale.

Solution IPC Can Help

Signal Hub from Solution IPC helps brokers and agents drive underwriting volume, accelerate revenue growth, and manage profitability. It puts powerful data science behind every business decision and customer interaction, helping intermediaries accurately and confidently assess and price risk, increase the volume of products and services offered and sold, and lower cost-to-serve. This increases CLV across the various stages of the customer lifecycle, including key milestones and unanticipated events. With Signal Hub, distribution drives better business outcomes.

Solution Overview

Analyze & Manage Risk

Let advanced data science and machine learning transform risk into profitable growth.

Signal Hub gives insurers a competitive edge by using data science and machine learning to impart more precision and dynamism to their risk models.
 
 

How it delivers value:

  • Augments insurers’ existing risk modeling, pricing, and management methodologies to maximize financial returns for any targeted risk profile
  • Accelerates insurers’ ability to shift from protection-based to prevention-based business models
  • Helps insurers increase operational efficiency, drive product innovation, and more effectively manage risk on a continuously improving basis via machine learning
  • Facilitates entry intro new insurance product categories, business situations, customer segments, industry segments, and geographies
  • Strengthens competitive positioning and differentiation, helping industry incumbents successfully counter new market entrants with non-traditional business models, products, and services (e.g., peer-to-peer insurance, pay-as-you-go models)
Optimize Pricing

Balance risk profile and profitability goals across your portfolio.

Signal Hub helps insurers drive greater profitability by imparting more precision in risk-based pricing. Augment your existing pricing methodologies with the power of advanced data science and machine learning

How it delivers value:

  • Enables more granularity and flexibility in pricing models, enhancing risk margin calculations
  • Enhances business agility, leading to more effective customer acquisition, larger market share within and across product categories, and lower risk of loss  
  • Improves the accuracy and sophistication of dynamic insurance pricing models
  • Establishes a dynamic pricing capability based on continuous testing, learning, and adjustment, supported by advanced machine learning techniques
  • Intelligently sets prices and guides pricing strategies, helping insurers accelerate revenue growth, improve profitability and adapt quickly to changing market conditions over time
  • Accelerates insurers’ ability to incorporate technology innovation (“InsurTech”) into products and services (e.g., opt-in monitoring to enable customized pricing)
  • Improves insurers’ ability to comply with current and emerging industry standards and regulations (e.g., ICS)
Personalize at Scale

Tailor, recommend, and deliver coverage across all modes of the individual’s life.

Signal Hub helps insurers engage with consumers more effectively, using highly tailored communications and channels that they favor, building the foundation for an enduring and mutually beneficial relationship.

How it delivers value:

  • Builds a profitable and loyal portfolio of customers, one interaction at a time
  • Helps insurers develop market offerings, promotions, and service experiences tailored to the interests and needs of specific customer segments and sub-segments on a massive scale
  • Provides a holistic view of the aggregate customer experience, from initial interaction, to adoption of the first insurance product, to adoption of multiple subsequent products as the customer’s needs change over time
  • Enables insurers and intermediaries to compete more effectively on the basis of service quality
  • Allows insurers and intermediaries to analyze consumer utilization of products, learn what is and isn’t working, and make subsequent adjustments to optimize results
Improve CLV

Optimize the entire customer journey.

Signal Hub disaggregates the customer’s journey across the stages of the customer relationship and usage of insurance products, then reassembles it in an application that enables intuitive, precise measurement and intervention, helping insurers orchestrate the entire customer experience.

How it delivers value:

  • Provides a single analytics environment that integrates customer management analytics across the product life cycle and portfolio
  • Defines and validates customer personas and associated needs at a deeply granular level of detail, enabling micro-segmentation, precision targeting, and preemptive action
  • Allows insurers to more successfully market additional insurance products, increasing the number of products per customer and strengthening loyalty
  • Orchestrates multi-channel treatments that leverage all customer touchpoints
  • Helps deliver a positive customer experience at every stage of the lifecycle
  • Proactively seeks monetization opportunities to expand customer lifetime value (CLV)
More...

Improve bottom-line results with advanced analytics.

Signal Hub improves performance of nearly all critical activities in the insurance industry, including efficiency, insight, and customer satisfaction, and allows insurers to manage risk more effectively, overtake competitors, and accelerate profitable growth.

 

  • Capital Adequacy Compliance Management
  • Capital Planning and Stress-testing
  • Customer Care Optimization
  • Liquidity and Margin Optimization
  • Customer Acquisition
  • Fraud Detection and Mitigation
  • Consumer Spend Maximization
  • Campaign Optimization
  • Churn Reduction
  • Customer Care Optimization
  • Competitor Intelligence
  • Preemptive Risk Management
  • Risk-based Pricing
  • Underwriting Risk Modeling and Credit Policy Formulation

Solutions for...

  • Claims made
  • Losses occurring
  • Proportional
  • Non-proportional
  • Risks attaching

Market Challenges & Opportunities

Reinsurers play an essential role in the insurance industry, expanding underwriting capacity and serving as the risk management backbone for insurers. They must manage portfolios of diverse products across multiple insurers while maintaining capital adequacy and regulatory compliance. Big Data analytics is an essential tool for creating, testing, and using risk models that manage risk across the overall insurance portfolio. Analytics accuracy alone isn’t sufficient. Throughput and time-to-results are also critical.

Solution IPC Can Help

Signal Hub uses advanced data science and machine learning to deliver superior business outcomes for reinsurers. With Signal Hub, reinsurers can enhance the accuracy of their existing risk models, increase the speed of assessing policies to be potentially reinsured, expand the volume of policies reinsured, and accelerate the pace of underwriting. With a holistic view of risk factors, exposure, liabilities, assets, and other critical inputs, reinsurers can confidently make business decisions that grow revenue, manage profitability, and maintain capital adequacy.

Solution Overview

Analyze & Manage Risk

Let advanced data science and machine learning transform risk into profitable growth.

Signal Hub gives insurers a competitive edge by using data science and machine learning to impart more precision and dynamism to their risk models.
 
 

How it delivers value:

  • Augments insurers’ existing risk modeling, pricing, and management methodologies to maximize financial returns for any targeted risk profile
  • Accelerates insurers’ ability to shift from protection-based to prevention-based business models
  • Helps insurers increase operational efficiency, drive product innovation, and more effectively manage risk on a continuously improving basis via machine learning
  • Facilitates entry intro new insurance product categories, business situations, customer segments, industry segments, and geographies
  • Strengthens competitive positioning and differentiation, helping industry incumbents successfully counter new market entrants with non-traditional business models, products, and services (e.g., peer-to-peer insurance, pay-as-you-go models)
Optimize Pricing

Balance risk profile and profitability goals across your portfolio.

Signal Hub helps insurers drive greater profitability by imparting more precision in risk-based pricing. Augment your existing pricing methodologies with the power of advanced data science and machine learning

How it delivers value:

  • Enables more granularity and flexibility in pricing models, enhancing risk margin calculations
  • Enhances business agility, leading to more effective customer acquisition, larger market share within and across product categories, and lower risk of loss  
  • Improves the accuracy and sophistication of dynamic insurance pricing models
  • Establishes a dynamic pricing capability based on continuous testing, learning, and adjustment, supported by advanced machine learning techniques
  • Intelligently sets prices and guides pricing strategies, helping insurers accelerate revenue growth, improve profitability and adapt quickly to changing market conditions over time
  • Accelerates insurers’ ability to incorporate technology innovation (“InsurTech”) into products and services (e.g., opt-in monitoring to enable customized pricing)
  • Improves insurers’ ability to comply with current and emerging industry standards and regulations (e.g., ICS)
Personalize at Scale

Tailor, recommend, and deliver coverage across all modes of the individual’s life.

Signal Hub helps insurers engage with consumers more effectively, using highly tailored communications and channels that they favor, building the foundation for an enduring and mutually beneficial relationship.

How it delivers value:

  • Builds a profitable and loyal portfolio of customers, one interaction at a time
  • Helps insurers develop market offerings, promotions, and service experiences tailored to the interests and needs of specific customer segments and sub-segments on a massive scale
  • Provides a holistic view of the aggregate customer experience, from initial interaction, to adoption of the first insurance product, to adoption of multiple subsequent products as the customer’s needs change over time
  • Enables insurers and intermediaries to compete more effectively on the basis of service quality
  • Allows insurers and intermediaries to analyze consumer utilization of products, learn what is and isn’t working, and make subsequent adjustments to optimize results
Improve CLV

Optimize the entire customer journey.

Signal Hub disaggregates the customer’s journey across the stages of the customer relationship and usage of insurance products, then reassembles it in an application that enables intuitive, precise measurement and intervention, helping insurers orchestrate the entire customer experience.

How it delivers value:

  • Provides a single analytics environment that integrates customer management analytics across the product life cycle and portfolio
  • Defines and validates customer personas and associated needs at a deeply granular level of detail, enabling micro-segmentation, precision targeting, and preemptive action
  • Allows insurers to more successfully market additional insurance products, increasing the number of products per customer and strengthening loyalty
  • Orchestrates multi-channel treatments that leverage all customer touchpoints
  • Helps deliver a positive customer experience at every stage of the lifecycle
  • Proactively seeks monetization opportunities to expand customer lifetime value (CLV)
More...

Improve bottom-line results with advanced analytics.

Signal Hub improves performance of nearly all critical activities in the insurance industry, including efficiency, insight, and customer satisfaction, and allows insurers to manage risk more effectively, overtake competitors, and accelerate profitable growth.

 

  • Capital Adequacy Compliance Management
  • Capital Planning and Stress-testing
  • Customer Care Optimization
  • Liquidity and Margin Optimization
  • Customer Acquisition
  • Fraud Detection and Mitigation
  • Consumer Spend Maximization
  • Campaign Optimization
  • Churn Reduction
  • Customer Care Optimization
  • Competitor Intelligence
  • Preemptive Risk Management
  • Risk-based Pricing
  • Underwriting Risk Modeling and Credit Policy Formulation

Solutions for...

  • State or province entities
  • Federal or national entities

Market Challenges & Opportunities

Severe financial shocks have illustrated the critical role that insurers play in ensuring the stability of the global economic system. As a result, regulatory oversight is increasingly structured and intense. Regulators rely on Big Data analytics to understand macroeconomic and individual company risks, ensure capital adequacy, and assess the effectiveness of controls. Analytics must accurately and quickly reveal patterns and sources of risk, enabling decisive intervention in an industry that is inherently risky.

Solution IPC Can Help

With Signal Hub, insurance industry regulators have a powerful data science tool in their toolkit. Signal Hub allows regulators to peer into Big Data flows across the entire industry, identifying inefficiencies, flagging actual or potential risks, and revealing fraud. Machine learning techniques enable continuous learning, creating a virtuous cycle of risk management at the macroeconomic, industry segment, and individual company level as economic cycles and business variables change. Advanced knowledge enables timely intervention, and deeper forensic insight into past events helps regulators take action that reduces the likelihood of adverse events recurring.


 

Solution Overview

Analyze & Manage Risk

Let advanced data science and machine learning transform risk into profitable growth.

Signal Hub gives insurers a competitive edge by using data science and machine learning to impart more precision and dynamism to their risk models.
 
 

How it delivers value:

  • Augments insurers’ existing risk modeling, pricing, and management methodologies to maximize financial returns for any targeted risk profile
  • Accelerates insurers’ ability to shift from protection-based to prevention-based business models
  • Helps insurers increase operational efficiency, drive product innovation, and more effectively manage risk on a continuously improving basis via machine learning
  • Facilitates entry intro new insurance product categories, business situations, customer segments, industry segments, and geographies
  • Strengthens competitive positioning and differentiation, helping industry incumbents successfully counter new market entrants with non-traditional business models, products, and services (e.g., peer-to-peer insurance, pay-as-you-go models)
Optimize Pricing

Balance risk profile and profitability goals across your portfolio.

Signal Hub helps insurers drive greater profitability by imparting more precision in risk-based pricing. Augment your existing pricing methodologies with the power of advanced data science and machine learning

How it delivers value:

  • Enables more granularity and flexibility in pricing models, enhancing risk margin calculations
  • Enhances business agility, leading to more effective customer acquisition, larger market share within and across product categories, and lower risk of loss  
  • Improves the accuracy and sophistication of dynamic insurance pricing models
  • Establishes a dynamic pricing capability based on continuous testing, learning, and adjustment, supported by advanced machine learning techniques
  • Intelligently sets prices and guides pricing strategies, helping insurers accelerate revenue growth, improve profitability and adapt quickly to changing market conditions over time
  • Accelerates insurers’ ability to incorporate technology innovation (“InsurTech”) into products and services (e.g., opt-in monitoring to enable customized pricing)
  • Improves insurers’ ability to comply with current and emerging industry standards and regulations (e.g., ICS)
Personalize at Scale

Tailor, recommend, and deliver coverage across all modes of the individual’s life.

Signal Hub helps insurers engage with consumers more effectively, using highly tailored communications and channels that they favor, building the foundation for an enduring and mutually beneficial relationship.

How it delivers value:

  • Builds a profitable and loyal portfolio of customers, one interaction at a time
  • Helps insurers develop market offerings, promotions, and service experiences tailored to the interests and needs of specific customer segments and sub-segments on a massive scale
  • Provides a holistic view of the aggregate customer experience, from initial interaction, to adoption of the first insurance product, to adoption of multiple subsequent products as the customer’s needs change over time
  • Enables insurers and intermediaries to compete more effectively on the basis of service quality
  • Allows insurers and intermediaries to analyze consumer utilization of products, learn what is and isn’t working, and make subsequent adjustments to optimize results
Improve CLV

Optimize the entire customer journey.

Signal Hub disaggregates the customer’s journey across the stages of the customer relationship and usage of insurance products, then reassembles it in an application that enables intuitive, precise measurement and intervention, helping insurers orchestrate the entire customer experience.

How it delivers value:

  • Provides a single analytics environment that integrates customer management analytics across the product life cycle and portfolio
  • Defines and validates customer personas and associated needs at a deeply granular level of detail, enabling micro-segmentation, precision targeting, and preemptive action
  • Allows insurers to more successfully market additional insurance products, increasing the number of products per customer and strengthening loyalty
  • Orchestrates multi-channel treatments that leverage all customer touchpoints
  • Helps deliver a positive customer experience at every stage of the lifecycle
  • Proactively seeks monetization opportunities to expand customer lifetime value (CLV)
More...

Improve bottom-line results with advanced analytics.

Signal Hub improves performance of nearly all critical activities in the insurance industry, including efficiency, insight, and customer satisfaction, and allows insurers to manage risk more effectively, overtake competitors, and accelerate profitable growth.

 

  • Capital Adequacy Compliance Management
  • Capital Planning and Stress-testing
  • Customer Care Optimization
  • Liquidity and Margin Optimization
  • Customer Acquisition
  • Fraud Detection and Mitigation
  • Consumer Spend Maximization
  • Campaign Optimization
  • Churn Reduction
  • Customer Care Optimization
  • Competitor Intelligence
  • Preemptive Risk Management
  • Risk-based Pricing
  • Underwriting Risk Modeling and Credit Policy Formulation

What the Market Is Saying

"Solution IPC solves problems unlike any other analytics solution provider. Nothing holds them back. They continue to expand the differentiation between themselves and their competitors, who may say that they do what Opera does, but in reality do not."

—Judson Ivy, Managing Partner; Ensemble Health Partners

"Signal Hub is at the top of the list when it comes to generating fast, actionable insights.”

—Group Head, B2B Payments; Top-5 Payment Card Network

"We were able to look to the data to prove we were in compliance. That's a powerful thing."

—Alan Levine, Senior Vice President and Florida Group President; Health Management Associates

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