GoodData, a US-based embedded and distributed analytics startup has entered the insurance industry by introducing solutions which will streamline insurance claims and underwriting processes. The two solutions are called ‘Underwriting Insights’ and ‘Claims Insights’ that automate data integration and delivers actionable insights to insurers.
Additionally, with its machine learning and AI capabilities, GoodData can deliver ‘next-best-action’ recommendations to improve the accuracy of adjusting decisions and enhance customer service. It can also be deployed quickly via a six-week production-ready solution that delivers an immediate business outcome for specific kinds of key claims and underwriting decisions.
GoodData Machine Learning predictions embedded directly into the end-user workflow application
GoodData also has plans to develop additional insurance-specific offerings such as Customer Acquisition Optimization and automated underwriting and claims.
Roman Stan, GoodData’s founder/CEO has said of this entry into the insurance industry: “These solutions address two of the most important and time-sensitive areas for insurance companies: claims processing and underwriting. While most Business Intelligence tools require a separate pane of glass to deliver static information based on historical data, we’re bringing analytics and recommendations directly into the business process so employees can determine the correct course of action to take within seconds.”
