Financial Services & Insurance

More established financial institutions are facing the threat of remaining relevant in the face of new challengers whilst overcoming the constraints of legacy systems.

Increasingly competitive markets, encouraged by comparison sites, coupled with the rise of Fintech necessitate reduced development life cycles. More agile product and service development rooted in enhanced business intelligence can deliver the necessary speed to market.

At the same time ensuring the right metrics are readily available to meet regulatory and governance requirements is an on-going headache. Advanced analytics coupled with a robust data strategy provide the opportunity to better manage the risks through more intelligent fraud detection and management.

Read our Insurance White Paper - Data: The Key to Transformation for UK Insurers

Data Use Cases in Financial Services & Insurance

Customer Personalisation

Data Analytics can be used in insurance to create personalised offerings and personalised insurance policies around groups of loyal customers who share meaningful demographics, purchases, loyalty etc.

Fraud Detection

Big data can be used for fraud detection and is extremely effective. By using data management and predictive models, variables in every claim can be compared against past claims which were fraudulent. If match is found, the claim can be stalled and further investigation can be carried out.

Improve Risk

Big data and analytics can enables insurance firms to conduct the real-time risk analysis, and therefore be extremely responsive in an increasingly volatile risk environment.

Reduce Customer Churn

Help Identify, predict and prevent customers with a high propensity to churn.

Insurance White Paper

Data: The Key to Transformation for UK Insurers

How UK insurers can use data to modernise, innovate and thrive. This paper looks at the challenges and opportunities facing
UK-based insurance companies across the sector, from property and casualty (P&C) to life, commercial and health. It explores how insurers can make best use of data to modernise their processes, develop new propositions, and deliver the products and services that today’s customers want and need.

Read our Insurance White Paper

Case Studies

INSURANCE BROKER CASE STUDY

Insurance broker gains powerful sales and marketing insights with Power BI-based self service reporting from Adatis

A third-party insurance broker couldn’t get the granular insight it needed to target sales and marketing campaigns effectively. They needed detailed geospatial and demographic insights to know where to target campaigns. Adatis showed that Power BI was capable of delivering the required insights.

The company can now get access to powerful, self-service data visualisation and reporting.

Read the full case study

PRIVATE BANK CASE STUDY

City of London Private Bank creates new Loan to Value Production system with Help of Adatis

This private bank were seeking a new accurate and efficient way to flexibly calculate their key loan to value metrics.

Adatis needed to implement a mathematical model within their ETL process to help predict the risk associated with their lending activities. With the risk of loans falling into negative equity being a key concern for lenders, the ability to automate part of the risk assessment calculation allows those involved to identify risky loans faster, and plan to mitigate the issues presented quickly.

Read the full case study