Insurance Claims Data Analysis and Analytics

This Insurance Claims Data Analysis Dashboard includes Motor Insurance Claims Data based in the UK. The application runs on Qlik Sense Associative Engine which allows users to perform in depth analysis of the claims payments across a wide range of factors including time, location and claim type. In the application you can see how poor data quality and significant outliers can have a direct impact on the performance results of the company.

The Insurance Claims Analytics video below shows how you can use business intelligence to analyze insurance claims data to identify claims fraud, unusual transactions and data quality issues. You can try the Insurance Claims Data Analysis Dashboard yourself here in the demo page.

One of the issues insurance companies face is fraud. Fraud attempts have seen a drastic increase in recent years with the increase in online businesses thus making fraud detection more important than ever. Despite efforts on the part of the affected institutions, hundreds of millions of dollars are lost to fraud each year and quite likely to increase as well. Just like a needle in a haystack relatively few cases show fraud in a large population. Finding these is not just tricky but sometimes impossible too.

A key weapon for insurers in identifying these fraud perpetrators is the analysis of data. In a classical data analysis scenario, insurers need to be able to search for associations in data between similar types of claims, in similar locations, including something unique like a mobile phone number. These associations between the data can lead to a significant increase in identifying the groups of people that commit these types of fraud. This is exactly where a data visualization solution like Qlik Sense can play an important role in this activity.  Qlik Sense can help Insurance Fraud Analysts identify trends, patterns and examples of fraudulent Whiplash claims.

One step further can be predicting which claims are fraud cases using predictive analytics. Predictive analytics do not require insurers to go through the relationships in their data manually and try to find out the cases where fraud probability is high. This task can be tedious if there are many parameters in the claims data but can easily be handled by a predictive model.

For example below, you can see how an automated machine learning tool (Enhencer in the below case) can help to identify fraud cases.

Predictive Analytics and Machine Learning Webinar - Customer Propensity Example

Beyond business intelligence, where you can slice and dice your historic data to understand what happened and why, predictive analytics will tell you what will happen and make powerful predictions about the future. This will replace intuition based decisions with data driven decision making process. You will also see how powerful machine learning algorithms are open to business users now thanks to self service advanced data analytics tools like Enhencer.

 Enhencer enables business users to use advanced analytics and machine learning on their data without data science knowledge. This allows them to create predictive models on certain metrics within minutes and then predict individual records based on the model (model can be exported to SQL or your favorite BI solution like Microsoft Power BI, Tableau or Qlik).


 For more information please visit https://www.enhencer.com/

Predictive Fraud Analysis - Enhencer (self service data analytics)

Fraud attempts have seen a drastic increase in recent years with the increase in online businesses thus making fraud detection more important than ever. Despite efforts on the part of the affected institutions, hundreds of millions of dollars are lost to fraud each year and quite likely to increase as well. Just like a needle in a haystack relatively few cases show fraud in a large population. Finding these is not just tricky but sometimes impossible too.

Predictive analytics can make fraud detection very easy and help you to seek out the needle in the haystack in no time.

• Using the dynamic segmentation, you can find the customer segments with the highest fraud rates.
• Predict the fraud activity
• You can learn the features of the customer segment likely to become a fraud and take actions to reduce the frauds.

Fast & Powerful Data Analysis

You don't need expensive and complex data science resources to benefit from advanced data analytics. Enhencer enables you to import, analyze and predict in less than few minutes requiring no coding or statistical expertise at all. Enhencer puts the data analysis in a nutshell with 4 steps.

1 - Connect/Upload Data
Upload data of many formats or Import data from various sources like Typeform, Survey Monkey, Google Form and many more in a matter of seconds.

2 - Instant Actionable Insights
Bring down the analysis time from days to minutes as Enhencer empowers the data analysis with decision tree algorithm in an accessible manner for everyone.

3 - Powerful Segmentation
Enhencer is designed with machine learning algorithms that can explore and provide the best & reliable segments automatically no matter the complexity of the data.

4 - Predictive Models
Enhencer builds the perfect predictive model & digs out the variable that truly effects your target automatically leaving you the task of just clicking the predict button.

Advanced data analytics segmentation

Dynamic Data Analytics Features

Enhencer brings all these features together to present the most complete data analysis package featuring from simple & stunning visuals to the most advanced data mining & predictive modeling algorithms. Enhencer also brings machine learning algorithms to the table making the data insights and predictions more accurate and reliable than ever.

Machine Learning Algorithms
Enhencer takes an approach for improving performance and reliability by using machine learning algorithms.

Powerful Segmentation

Enhencer provides powerful & reliable segments automatically from the data using machine learning algorithms.

Stunning Visual Stories

Using intuitive and interactive interface of Enhencer acquire stunning visual stories for all your data types.

Robust Prediction

Predict the unknown using powerful predictive models such as decision tree, random forest, XGBoost & neural network.

Likert & Promoter Score

Survey friendly features to spot the business growth opportunities that no other data analysis packages provide.

Flexible Integrations

Connect and integrate the different data sources from online data collection platforms and database platforms.

For more information, demo-request or free trial, please visit www.enhencer.com

Predictive Insurance Data Analytics and Segmentation - Enhencer

Fast & Powerful Data Analysis

You don't need expensive and complex data science resources to benefit from advanced data analytics. Enhencer enables you to import, analyze and predict in less than few minutes requiring no coding or statistical expertise at all. Enhencer puts the data analysis in a nutshell with 4 steps.

1 - Connect/Upload Data
Upload data of many formats or Import data from various sources like Typeform, Survey Monkey, Google Form and many more in a matter of seconds.

2 - Instant Actionable Insights
Bring down the analysis time from days to minutes as Enhencer empowers the data analysis with decision tree algorithm in an accessible manner for everyone.

3 - Powerful Segmentation
Enhencer is designed with machine learning algorithms that can explore and provide the best & reliable segments automatically no matter the complexity of the data.

4 - Predictive Models
Enhencer builds the perfect predictive model & digs out the variable that truly effects your target automatically leaving you the task of just clicking the predict button.

Advanced data analytics segmentation

Dynamic Data Analytics Features

Enhencer brings all these features together to present the most complete data analysis package featuring from simple & stunning visuals to the most advanced data mining & predictive modeling algorithms. Enhencer also brings machine learning algorithms to the table making the data insights and predictions more accurate and reliable than ever.

Machine Learning Algorithms
Enhencer takes an approach for improving performance and reliability by using machine learning algorithms.

Powerful Segmentation

Enhencer provides powerful & reliable segments automatically from the data using machine learning algorithms.

Stunning Visual Stories

Using intuitive and interactive interface of Enhencer acquire stunning visual stories for all your data types.

Robust Prediction

Predict the unknown using powerful predictive models such as decision tree, random forest, XGBoost & neural network.

Likert & Promoter Score

Survey friendly features to spot the business growth opportunities that no other data analysis packages provide.

Flexible Integrations

Connect and integrate the different data sources from online data collection platforms and database platforms.

For more information, demo-request or free trial, please click.

Self-service predictive visual data analytics

You are invited to Enhencer Predictive Visual Storytelling webinar on May 4th 2018 at 10:00 AM GMT +8:00.

In this free event, you will discover how self-service visual data analytics can help you to derive actionable insight from data with no data science experience. Enhencer self-service visual predictive platform achieves this by selecting and running the best ready-made machine learning algorithm as you explore your data by click on the visual dashboard. This helps companies to;

• to free business users from data scientists and perform advanced data analytics
• to reduce the data analytics time to minutes from days
• to reduce dependency on expensive data scientist resources and statistical tool
• increases the use of data analytic so value extracted from data analytics is increased

You will also have a chance to see a demonstrations of Enhencer. Please click register to join.

Event Information

Date :May 4th 2018, 

Time

10:00 – 10:45 AM GMT (Singapore / Malaysia / Hong Kong)

09:00 – 09:45 AM GMT (Indonesia / Thailand)

(Can’t make it or missed it? Click here to request for a demo)

Predictive visual storytelling - Data analytics for business users without data science experience

Today, many companies collect huge amount of data which can add tremendous value if data analytics is applied on it. Unfortunately, predictive modeling and machine learning algorithms requires data science expertise and/or specialized statistical tools. These traditional resource are expensive. Many companies cannot afford to keep such employees. Even if they can, the process is rigid. A business users needs new data analytics requirement, he / she needs to ask it from data scientist and wait for the scientist to come up with the new model.

Enhencer Predictive Visual Storyteller is a self-service visual data analytics for business users to derive actionable insight from their data in a few clicks and with no data science expertise and coding.  Enhancer's visual dashboard is easy to use with clicks while best ready-made machine learning algorithms are run in the background in each click.

Enhencer offers segmentation using ready-made machine learning algorithms. Enhencer explores and provides best segments for your target objective no matter the complexity of the data. Enhencer offers instant actionable insights. Users can simply upload their data to Enhencer and within a few clicks and minutes can perform data analysis which requires days to do with traditional data analytics tools.

Example

Suppose that you have integrated your CRM to Enhencer. You want to analyze the customer churn & retention. Suppose that you have a field in your data named customer status which can be "lost" or "existing". Suppose that for a selected group of customers, 48% are lost.

Your CRM holds customer data with many information like age, gender, income, how long / frequent customer uses a service, customer source, customer location, etc. By segmentation, you can find out what segments of customers are retained most and what segments of customers are lost most.

With dozens or even hundreds of properties in your data, it is difficult to intuitively segment the customers. You don't know which categories are significant in customer retention and which are not. Is age a factor? Customer source? Gender?

Below video shows the segments generated by Enhencer. You simply select the value (here customer loyalty) to analyze and Enhencer automatically segments them. Top segments mean which categories of customers are most loyal and bottom segments show the least loyal ones. In the example below, first segment is 110% gain on average which means they are more than twice loyal compared to average loyalty. This segment is :

Salary Amount > 10,397
Age > 29
Gender = Male
Nationality = Japan or UK

The least loyal ones are :
Salary <4,031.
Customer Class = Silver
Nationality = US, Japan, France, UK and Italy.

Locating these significant customer properties among dozens and even hundreds of categories you have in your CRM is difficult if you do not have data analytics. With this info data analytics provides, you can have an action plan (i.e. target high income bucket more or investigate why Silver customers in certain countries are least loyal).

You can also perform predictive analytics in Enhencer on fly. For example, you can select several properties of customers (age range, gender, location, class, nationality, etc ...) and ask Enhencer to predict the probability of this customer to stay loyal to your company.

The platform is available on cloud by monthly subscription or if required can be installed in-house. You can request a demo here.