GoodData Launches Analytical Insurance Solutions to Improve Insurance Claims and Underwriting Processes
GoodData, a provider of embedded and distributed analytics solutions, is expanding into the insurance space to simplify the claims and underwriting business processes. GoodData is announcing two new analytical solutions to automate data integration and rapidly deliver analytics and insights within multiple insurance workflows: Underwriting Insights and Claims Insights to help accelerate insurers’ digital transformation journey.
Eliminating time consuming creation of analytics models by hand, GoodData deploys models through reusable building blocks and automating multiple steps in the claims and underwriting process to help organizations streamline their processes. Machine Learning and AI capabilities in the GoodData solutions provide next-best-action recommendations to reduce underwriting risk, improve accuracy of adjusting decisions, and enhance customer service.
The new solutions address two of the most important and time-sensitive areas for insurance companies: claims processing and underwriting, said Roman Stanek, founder and CEO of GoodData. While most BI tools require a separate pane of glass to deliver static information based on historical data, GoodData is bringing analytics and recommendations directly into the business process so employees can determine the correct course of action more quickly, he noted.
GoodData’s expansion into the insurance space comes at a critical time for the industry, according to the vendor. It plans to continue to develop additional insurance-specific offerings, such as customer acquisition optimization. To get started quickly, GoodData created a six-week production-ready solution that delivers immediate business outcome for a select number of key claims and underwriting decisions.
More information about Underwriting Insights and Claims Insights is available from GoodData.