As the insurance industry draws towards an impending evolution, insurers are realizing the need to deliver superior customer experience to stay ahead of the competition. Moreover, aspects revolving around data explosion and changing consumer preferences like instant gratific≤ation, sharing economy, etc. are making it a taxing job for insurers. Aureus Analytics, customer Intelligence & Experience company for insurers and banks have launched the CRUX platform to address this particular business challenge.
A first of its kind comprehensive Data Analytics platform, CRUX has been designed specifically for insurers to deliver better customer experience. Anurag Shah, CEO and Co-Founder, Aureus Analytics, remarks “The solution is disruptive, cost-effective, and swift. This platform will help insurers currently perplexed with the decision of building expensive in house big data analytics capabilities, or service providers who are thrive on never ending projects.”
With CRUX, business and analytics users can capture data from multiple sources, both internal and external to the insurer, to create a single source of truth. Moreover, a variety of predictive algorithms could be run, which helps in predicting critical consumer behavior. This in turn helps in improving persistency, cross sell, fraud detection, etc. in real time.
CRUX stands at an intersection of technologies such as machine learning, Big Data, and Advanced Analytics. The platform combines the power of all these technologies together to deliver real-time actionable insights in simple business English at the Point of Decision. Any business user can access insights anytime, and on any device, as CRUX has been designed for all device form factors.
CRUX will help insurers to:
- Reduce claims processing and payout time from weeks to days.
- Improve their persistency / retention rates, so as to realize significant gains to their bottom line.
- Enhance fraud detection capabilities
- Improve cross sell capabilities by comprehending their customers and the preferences better.
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With a background in Engineering, Amit has assumed the mantle of content analyst at Analytics India Magazine. An audiophile most of the times, with a soul consumed by wanderlust, he strives ahead in the disruptive technology space. In other life, he would invest his time into comics, football, and movies.