BFSI (Banking, Financial Services & Insurance)


Banking	Insurance

Banking & Financial Services

Banks have to cross a number of hurdles to come out winners on top of the game. With higher funding costs, high customer attrition, stringent statutory regulations, and lack of a comprehensive national database on customer risk profile they navigate an uncertain business environment. Our team’s expertise in utilizing advanced statistical, econometric and business strategy tools helps banks address key business issues in target customer profiling, identifying cross/up selling opportunities and reducing customer churn leading to higher profitability with minimum default risks.

Some of our key expertise and strengths within the areas of customer acquisition, stimulation, reactivation, retention, and win back within Banking Analytics can help you address your most significant questions:



	How can we maximize the value of our customers? What is the most appropriate mechanism for pricing the risk across different customer class groups? How are our agents performing? Which agents are most likely to defect to our competition?

Customer Segmentation Analytics, Pricing Analytics, Agent Analysis



	Have we identified the potential product offerings that can be bundled together, or designed appropriate discount programs with lower premiums to be offered to existing customers who hold multiple policies? How do we identify attrition rate and design appropriate retention strategies?

Cross / Up Sell Analytics, Churn Analytics & Customer Retention Management,Campaign Management


	How can we design appropriate campaigns, and make rational marketing channel choice while working within a fixed budget? Can we estimate a customer’s response to a particular campaign or product offering? How can we ascertain a deep understanding of sales trends to set effective targets for the sales force?

Campaign Management, Response Modeling & Analysis, Sales Force Effectiveness Analytics



	How to grow the business profitably by controlling associated risks? How to improve approval rates at the time of customer acquisition? How to keep the underwriting costs low? How to manage ongoing customer risks? How to manage pricing and line assignments? How to become proactive in managing risks in a dynamic environment?

Risk Modeling and Underwriting strategy, Customer Risk Management



	Can we make our collections process more effective and profitable by prioritizing, and implementing segment based strategies? How can we assess the propensity of a customer to repay once in default? What is the right strategic choice between outsourcing collections and retaining collections in-house?

Collection modeling and Analytics



	Have we got an appropriate customer account scoring and transaction investigation methodology in place for early identification and prevention of fraudulent card or bank account transactions?

Fraud Modeling

Insurance

The business of insurance is transforming risk towards higher profitability. An inherently data rich business, Insurance as a sector enables companies to competitively leverage their databases along a broad array of business decisions ranging from product development, marketing, underwriting, claims rating, agent performance analysis to reinsurance decision. As a result most companies can abandon traditional business models and engage new methods that provide the right combination of technology, people and processes to cut losses, increase profitability and retain valuable customers.

Some of our key expertise and strengths within the areas of customer, agent, underwriting, loss, pricing, and claims analytics can help you address your most pertinent questions:



	How do we identify each profitable customer segment and design appropriate services and products? How do we formulate an optimum pricing strategy for our product portfolio to identify crucial price points relevant to each market segment?

Customer Segmentation Analytics, Pricing Analytics



	What methods can we utilize to identify unique selling opportunities within complementary products? How can we ascertain reasons requests to discontinue services by customers, identify customers likely to retrench and select appropriate retention strategies?

Cross / Up Sell Analytics, Churn Analytics



	What is the embedded risk in our customer groups? Have we quoted sufficient premium or stipulated appropriate exclusions to enhance profitability of claims management? What types of claims should be investigated and which should be solved without investigations?

Underwriting Analytics, Claims Analytics



	How do we estimate and provide for loss on our portfolio? What is the appropriate customer scoring and risk assigning methodology for early identification and prevention of fraudulent claims?

Loss Modeling, Fraud Modeling