Data Analytics & Modeling Services :: Insurance

Case Studies: Customer Churn Analytics Demand Forecasting Insurance Analytics Medical Claims Analytics Credit Risk and Scoring Retail Analytics

Market Equations offers customized Data Analytics and Modeling Solutions for the Insurance Industry to include Customer Acquisition strategies, Cross –sell strategies, Churn Management strategies and Retention Scorecards and Policy Lapse Renewal strategies helping our customers retain customers, manage risk , minimize cost, increase revenue generation and maximize returns. We manage credit risks by minimizing fraud and bad debts and enhancing collections. We help you identify the most profitable customers’ right from the initiation process to payment collection. We offer expertise in risk modeling throughout the acquisition to retention cycle.

Cross-sell strategies: Market Equations offers value driven Data Analytics and Modeling services for the Insurance sector aimed at helping organizations acquire new customers, cross sell new products to existing customers, enhance customer relationships, retain customers and increase revenue generation and profitability. Our domain experts have proven expertise to build successful helping you succeed in a fiercely competitive Insurance space.

Retention Scorecard: Due to the competitiveness in the Insurance marketplace, customer churn is an inevitable phenomenon. Market Equations optimize the collection processes by segmenting the data on the basis of propensity of payment. We develop specific retention strategies for each risk segment in order to maximize collection and minimize costs. Market Equations custom data analytics and modeling services helps you identify the customers with very high probability to churn or defect. We develop different strategies for different segments retain customers by offering better customer services and product offerings.

Renewal of Lapse Policies: As is customer churn, the rate of policy lapses is very high in the insurance industry. Market Equations offers data analytics and modeling solutions and Insurance industry specific expertise that identifies the target customers who are more likely to revive their lapse policies. This ensures customer retention, minimizes costs and enhances profitability.

Our unique Analytics and Modeling solutions for the Insurance industry helps you identify, authenticate and validate your member base to help you maximize profits.

Medical Claims Analytics: Market Equations works with medical claims and customer demographic data to provide real time intelligence on prevention through early identification of high cost members. Our solution help you identify members with diseases, sort members based on disease maturity, identify and analyze gaps, prevent through early identification of diseases and estimate actual vs predicted costs. Our complex quantitative analytical and modeling skills including fitting linear and non-linear statistical models to continuous or count responses, developing HECON model combined with our familiarity with payment models, utilization factor assessment, ICD-9 diagnosis codes, etc help the insurance companies take preventive action by identifying individual members who have high probabilities of incurring high medical costs.