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To complete a robust digital transformation (DT), an insurance company needs to capitalize on its business intelligence. Only through gaining a cohesive picture of its entire data ecosystem can an organization know why a digital transformation is needed, and track the key outcomes that indicate a DT project has been a success.
Robust data management is a requirement for any company that wishes to gain a competitive edge by utilizing big data. Big data is defined by three specific characteristics: information collected in immense volume, real-time data analyzed at high speed, and information drawn from a wide variety of sources.
Insurtech agencies use big data-dependent solutions to enhance customer services, optimize business operations, and assist critical decision-making. Proactive insurance companies that are able to tap into this resource outpace their competitors on almost every front.
I need real-time data analytics from multiple disparate sources
High-performing insurance companies turn data into actionable insights by unifying disparate sources of information from both inside and outside their agencies. By so doing, they place themselves in a better position to conduct comprehensive data analysis that helps them improve customer services, upgrade data security, assure data accuracy, and capitalize on emerging trends.
The level of analysis required to process such huge amounts of information is too large a task to be handled manually, and thus requires the use of intelligent digital applications.
RD Global regularly works with insurtech and insurance companies to implement smart “event stream processing” systems that effortlessly harnesses data from every sector of an organization’s information ecosystem. With a robust RD Global solution in place your company’s data will be more connected, accurate, and usable.
I need to fuel data driven decisions with advanced visualization
For data to be actionable, it needs to be quickly and easily understood by human beings. A frictionless data analysis experience incorporates easy-to-use interfaces and user-expected assets that depict data stories that can be effortlessly understood by any member of your team.
RD Global’s dedicated UI/UX design experts are well-versed in creating visual experiences that empower employees across an organization to access information in a usable way. Our data analysis tools are built to allow on-demand, secure access to your company’s analytical data so that your organization can make better, faster decisions without software getting in the way
Technologies & Certifications
Related Insights
Common Customer Questions
Data Lifecycle Management (DLM) is a structure or system that controls the total “lifespan” of a piece of datum in your organization. DLM is influenced by internal and external policies such as data protection legislation, and by the digital technology used to collect and manage it. For insurance companies, it’s important to work with software developers who are well-informed about the standards and legal requirements of managing data within the industry. This guarantees that your data management solution is fully compliant.
Real-time data analytics involves processing data at the moment it’s created. A few examples of typical real-time events that generate usable data include ecommerce transactions, bill payment, form submissions, phone calls, website visits, chat messages, or text messages. Insurance companies use real-time data to gain insight on customer behavior, produce policy estimates, process claims, and personalize customer services.
A few examples of big data streams that can help the customer acquisition process include social media posts, page views on your company’s website, and emails or forms submitted to your team. These data sources provide precise information about customers’ needs and how your agency can best meet them. With intelligent automation in place, these disparate streams of data can be quickly analyzed to help formulate a customer acquisition strategy.
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