Insurance Claims

High Level Design

Overview

For insurance companies to stay profitable, they need to keep constant track of the claims being made for their different policies. This can enable them to adjust premiums for policies that have a high claim ratio or even add new policies to help reduce premiums for clients. In addition, identifying the amount of claims per customer, per policy, can help insurers offer cheaper premiums that both the customer and the insurance companies can gain from. This is where the insurance analytics dashboard comes into play.

Goals

Minimize losses from claims.

Objectives

• Reduce number of claims per customer
• Adjust policy premiums where claim costs are high

KPI Architecture

Data Modeling (Elasticube Design)