The future of intelligent insurance
Drive operational efficiencies, reduce risk and unlock new opportunities with revolutionary intelligence
The insurance industry is at the inflection point, facing an exponential increase in the complexity of decision making.
- Rapidly rising amounts of data to process
- Information overload and decision-making complexity
- Heightened customer expectations for innovation and segmentation
- Low interest rates and economic pressures
- Loopholes in fraud detection
- Labor-intensive claim processes that take months to finish
This is the time when augmented intelligence and new technologies will become a key competitive differentiator in the insurance industry. Blackswan Technologies ELEMENT™ of Insurance changes the game for deploying big data and A.I. capabilities quickly, allowing your enterprise to redefine market leadership.
ELEMENT™ of Insurance
An industry-customized version of ELEMENT™, the world’s first Enterprise A.I. Operating System that leverages leading-edge capabilities in big data, cognitive computing, artificial intelligence and contextual analytics to transform insurance enterprises.
Leverage data for more accurate outcomes
Insurance companies mostly rely on the static data categories to assess risk.
ELEMENT™ of Insurance completely revolutionizes this process, enriching the existing internal information with vast variety of data, both structured and unstructured, open and restricted to build a dynamic, up-to-date picture of inquirer’s situation, executive staff, relationships with third parties, and pertinent transactions.
Provide elevated insight to facilitate decision-making
Using machine learning technology we help insurers to increase visibility to risks directly or indirectly impacting insured entities and potential clientele. ELEMENT™ algorithms can reliably identify patterns in the data and provide “at a glance” visual depiction of the most important transactions, external changes, and threats that affect the customer’s situation makes helping to recognise risks and improve fraud detection.
Increase productivity and employee performance
ELEMENT™ of Insurance instantly delivers massive productivity gains by allowing you to shift staff focus from low-skill administrative work to high value account management, all while maximizing volume. By putting all the timely and accurate data right in front of the agent we empower employees to go beyond data gathering to fast, accurate conclusions and actions – in weeks instead of months or years.
Drive new revenue opportunities with customer intelligence
ELEMENT™ enables insurance companies to gain unprecedented insights into customer behaviour allowing enterprises to not only better predict fraud but also enhance their revenue models. We deliver a data-driven 360-degree view of customers enabling enterprises to build better marketing campaigns, more effective cross and up-selling, more personalised products and more targeted pricing. More than that, with ELEMENT™ insurance companies are able to drastically improve customer experience through each stage of their journey – from prospecting, to on-boarding, to policy management; reinforcing customer loyalty and retention rates.
Insurance companies, their products and business models are undergoing major transformation. Learn how we can help your business to stay ahead of the curve (links to sub-industries for insurance)
– Property & Casual Insurers
– Insurance Carriers
The insights from ELEMENT™ of Insurance can be incorporated across the entire enterprise – from underwriting and product development to risk monitoring, claims processing, marketing, customer service, and beyond – empowering the entire organisation to make smarter business decisions, faster than ever before. (links to applications for insurance, boxes with longer text appearing once you get the cursor to the box)