INSURANCE
Octave Analytics offers guided data exploration and automatic visualization to aid marketing and sales decisions. Insights from Octave Analytics enables insurers to quickly spot a hidden opportunity or an intended fraudulent transaction. Our Analytics Process Outsourcing services generate insights insurers need to make data-driven decisions. Our solutions answer questions about customer behavior, customer preferences and customer loyalty with the intention of maximizing your customers’ lifetime value. We can help you to identify the right customers to retain and prescribe the best channels to engage them and build the right campaign to optimize your customer value
Premium Investment Model
Our model can determine the most profitable investment decision of your Earned/Unearned Premium
- Asset Under Management Modelling
- Returns on Investment Forecast
- Investment Headcount Ratio
- Percentage of Revenue Earned from Investment
Predictive Analytics Models for Insurance
Improve both the efficiency and effectiveness of your underwriting operations through
- Claim Scoring
- Underwriting and Pricing
- Claim Fraud
- Underwriting Optimization Models
- Underwriting Fraud
- Policy Application Fraud
- Provider Payment Abuse
- Brokers Analytics
- Agent Performance Scorecards
Business Planning Analytics
Take advantage of our analytics models to improve your business planning processs​
- Gross Premium Income (GPI) Forecast vs. Actual
- Total Claim Forecast vs. Actual
- Survival Data Mining
- Claim Reserve Model
- Credit Control – Outstanding Ratio
- IBNR (Confirmed but Not Reported)
- Worst Insured Client GPI Forecast vs. Actual
- Best Insured Client GPU forecast vs. Actual
- Not Taken Up Ratio vs % of Neglected Claim
Predictive Analytics Models for Insurance
Improve claim performance & optimize your marketing and sales strategy to achieve greater results
- Claim Denial & Resolution Model
- Claim Adjustment Ratio
- CGE vs PGE Modelling
- Combined Cost & Claim Ratio
- Claim Foreclosure Rate
- Claims Report by Product Line
- Claim Solvency Modelling
- Average Handling Time of Claim
- Claim Fraud Detection Model
- %Claim Overdue Distributions
Underwriting Models
We provide diagnstic models that project the payoffs from making underwriting decisions
- Underwriting Risk Assessment Model
- Catastrophe Modelling
- Policy Premium to Personnel Cost Model
- Underwriting Expense Ratio
- New Business Channel Modelling
- Application Processing & Remittance Rates
- New Premium Written
- Policy Renewal Prediction
- Broker/Agent Revenue Model
- Distributions of New Acquisitions
- Moving Average of Daily Premium Written
- Underwriting Fraud Detection Model
Insurance Cycle Time Analytics
Octave Analytics CTA helps your team to improve and deliver faster by identifying outliers & trends
- New Business Processing
- Underwriting
- Repair Completion
- Claim Processing
- Coverage Offer
- Policy Renewal Prediction
- Claim Settlement
- Claim Payment Remittance
- Initial Damage Inspection
- Initial Customer Contact
- Claim Payment Remittance
Growth & Profitability Model
When considering using data to maximize revenue and drive down cost, consider Octave Analytics
- Customer Segmentation
- Customer Lifecycle Management
- Cross Sell & Up-sell
- Retention & Acquisition Model
- Salesforce Distribution Optimization
- Propensity Modelling
- Policy Profitability Model
- Actuarial Analysis & Ratemaking
- Value Band Segmentation
- Customer Demographics & Behavioural Profiling
- Brand Health Check
Insurance Analytics
Unleash the power in your insurance data and transform how you do business
- Policies in Force Model
- Commercial Combined Ratio Analytics
- Net Premium vs. Total Expense Ratio
- Loss Ratio Modelling
- Expense Ratio Modelling
- Net Premium vs Marketing Ratio
- Earned vs Unearned Premium Model
- Moving Average of Total Earned Premium
- Policy Holders Analytics
- Reinsurance Modelling
- Co-Insurance Modelling
- Agent/Brokers Business Analytics
Trusted By Top Global Brands
We deliver first class service to all clients, both large and small-scale venture