Improving the claim process for Middle East insurance company
Our client, a large Middle East insurer, had experienced a 50% increase in claims year-on-year and wanted to understand if there were loopholes in its process and build solutions to eradicate them.
Using data from multiple source systems and applying ACL and SQL to model the process, we identified comparable anomalies. These were presented to the client via a series of customised Qlikview dashboards, which allowed a focus on critical KPIs and peer evaluation.
Our analysis highlighted a number of gaps within the client’s claims process, which it was able to fix immediately. Our recommendations have also helped the client improve its processes integrating industry best practices, reducing risk and increasing confidence in its framework.
Leveraging analytics for new London-based insurer
Our client wanted us to assess its possible capital requirements over the next five years and consider the capital impact of several key strategic options.
Over the past few years, PwC has developed the largest proprietary database of insurance planning information in the market. For this project, we combined information from our database with an internally developed model to deliver tailored capital insight around our client’s business. Using a range of data visualisation techniques we helped the board to understand possible future capital requirement and created insight to help them develop their future plans.