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Managing Insurance Risks: Quantzig's Perspective on Insurance Risk Management Using Analytics
[June 26, 2020]

Managing Insurance Risks: Quantzig's Perspective on Insurance Risk Management Using Analytics


Quantzig, a leader in delivering scalable analytics solutions and data science services, today announced the completion of its recent article that offers comprehensive insights on managing insurance risks using advanced risk analytics solutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200626005019/en/

As the insurance industry adapts to the new normal, the 'Risk Function' must keep pace, failing which businesses can incur huge losses and lose market value. (Graphic: Business Wire)

As the insurance industry adapts to the new normal, the 'Risk Function' must keep pace, failing which businesses can incur huge losses and lose market value. (Graphic: Business Wire)

Risk culture and its impact on effective risk management have become a top-of-mind issue for senior management. Wonder how analytics can help you drive continuous improvements in risk management? Request a FREE proposal for expert insights and personalized recommendations.

As the insurance industry adapts to the new normal, the 'Risk Function' must keep pace, failing which businesses can incur huge losses and lose market value. At the same time, insurers must focus on effectively managing insurance risks by ramping up their analytics inestments and transforming themselves digitally to stay relevant and recover lost shares. With an increasing focus on improving data governance, data management, and productivity, we now witness a rise in inclination towards risk analytics. As a result, there has been an intensified effort across the industry to review and assess risk management processes and implement changes to proactively manage the risk culture. Read the complete article for detailed insights on the benefits of customer experience analytics: https://bit.ly/2YyAHL5



We help businesses to translate ever-increasing amounts of data into actionable business insights that can help minimize risks, maximize profits, and increase operational efficiency to gain a competitive advantage. Speak to our experts for comprehensive solution insights.

Managing Insurance Risks: Three focus areas when implementing risk analytics in insurance


#1 Speed and accuracy of insights

Identifying and managing insurance risks by leveraging risk analytics is crucial in the current scenario as it enables businesses to save time and resources by automating data analysis and insight generation.

#2 Organization-wide, unified view of risk

The use of advanced risk analytics will enable businesses to drill down on issues of relevance including, customer behavior, concentrations of risks, and other technical deviations. This ability will, in turn, enable the insurers to fully incorporate risk, as well as factors impacting growth, throughout its decision-making process.

#3 Alignment to the business strategy, rather than compliance

As business activities become increasingly automated, the information gathered through risk analytics will help insurers to understand and analyze the impacts of different risk scenarios driving strategic decision-making.

Our risk analytics platforms integrate a wide range of granular datasets from both external and internal sources, Book a FREE Demo to learn more about our risk analytics platforms.

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal


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