During the most recent years, Digital became the new hype in the insurance industry. Most insurance companies have started to turn their operations into a digital factory and use digital approaches from distribution to accounting. As a matter of fact, this trend has also started to impact the reinsurance industry. The reinsurer builds upon its strength and focuses on a strong analytical competence but also on an efficient administration.
«The general change potential of digitalization is subject of intense market discussions. Thanks to our industry- and outside-in perspectives across markets and financial industries, we jointly develop concrete fields for action and implement them successfully. Thus digitalization is no longer a threat but becomes an opportunity.»
Smart Analytics / Predictive Modelling
People and machines increasingly generate vast amounts of data, which could be used to make more informed business decisions by blending it with internal data. Many clients struggle harvesting insights from that newly available data Synpulse helps clients to find suitable vendor solutions, identify use cases and source/cleanse/analyze data so clients can deduce valuable insights from them.
The time is now to focus on Smart Analytics and Predictive Modeling. Today, every online action we take leaves a digital trace, which leads to unprecedented explosions of available data. Furthermore, substantial upgrades in available computational power and machine learning technology are being carried out daily. These trends have the potential to revolutionize the way people can glean valuable insights from onslaughts of data.
Realizing this, many financial service companies embark on digital transformations and harness the latest technology to improve their data collection and interpretation efficiency, so they can better understand and serve their customers’ needs while obtaining valuable insights into market shifts and product risks.
Areas of interest
Smart analytics and predictive modeling are not limited to one area, but are best applied in the following five areas:
- Market insights
- Client insights
- Risk insights
- Operational insights
- Asset insights
The Synpulse Approach to Smart Analytics & Predictive Modeling
We see financial service companies taking many different routes in their efforts to cope with the smart analytics challenge. Some enlist a smorgasbord of data scientists, statistic experts and SAS programmers to help them build models to prove data-generated hypotheses. Others try to recognize data patterns through machine-learning capabilities in end-user facing applications. At Synpulse, we assist with both approaches, but we notice clients trending toward end user facing solutions that connect business users directly to a machine. With this, the human expert is not made obsolete, but made a leader in the Smart Analytics and Predictive Modeling approach
Synpulse Service Offering and Expertis
Synpulse helps clients with Smart Analytics and Predictive Modeling from data-to-insight as well as insight-to-action on technical or business-related topics. To do so, we employ selective vendor technologies to guide our client through the digital transformation process.
At Synpulse, we are well equipped with a team of experts specializing in Smart Analytics. We also partner with leading tool providers in the area of augmented intelligence using machine learning. Our team and partnerships apply their expertise in the fields of motor insurance, health insurance, commercial insurance, and reinsurance.