Claim analysis is one of the most challenging management issues for insurance companies in these times of escalating risk and changing markets. More than any other industry, insurance is based on decision-making: claim analysis is in itself a decision-making process. Managing an efficient claim analysis process is of vital importance to insurers, and they know that a decision is only as good as the data it's based on. Leading insurers are accomplishing their goals by making claim analysis faster, smarter, and more efficient with performance management software from IBM.
Cognos Has Business Intelligence Solutions for Insurance Claim Analysis
Six of the top ten insurance companies in the world have already chosen IBM to help them stay competitive and maximize profitability with technology for claim analysis and reporting. These, and many other leading players in the industry, rely on IBM to consolidate their data and make it easily accessible for decision-making. IBM has not only solutions specific to insurance, but the expertise developed from years of experience in claim analysis and reporting. And only IBM has created performance blueprints—targeted, pre-built data, process, and policy models for claim analysis based on proven best practices in insurance. Cognos blueprints help insurers to fast-track the claim analysis process and speed up adoption of new technology.
Cognos Unlocks Your Data for Claim Analysis
In a mature industry like insurance, the data that underlies claim analysis exists, but accessing the information is often a major problem. Some organizations state that up to 60 percent of their time in claim analysis is spent on data, leaving only 40 percent for analyzing the data and making decisions. With IBM software, data is collected and consolidated from disparate sources and systems, and presented in a graphical, Web-based format for easier claim analysis. A sound decision-making base from IBM performance management solutions speeds up claim analysis—in some cases by over 50 percent—leaving claims teams significantly more time for planning and other corporate initiatives. With the IBM business intelligence solution for claim analysis, insurers have transformed their data into a strategic weapon for competitive advantage.
Learn more about IBM models and blueprints for insurance claim analysis here.
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