Smart, Big Data Analytics for Insurance

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Synpulse and MondoBrain® join together to offer a proven and powerful Big Data, Smart Analytic Tool and an established implementation methodology that empowers you to make data driven decisions to improve your business immediately. The Challenge: New data sources will undoubtedly become available and the velocity and volume of current data sources are growing. The future challenge will be to harness the power of all this data to drive business decisions and assess progress while earning a positive return on your data analytic investment. The Solution: MondoBrain® and Synpulse bring you the technology, the approach and the expertise - a comprehensive solution that empowers you to understand, explain, predict and monitor critical business issues. You don’t have to invest in an expensive data scientist army or rely on highly technical solutions that are difficult to interpret. Finally you can easily answer the question – “What critical combinations of factors are improving or diminishing my performance and how do I implement the necessary changes?” Why MondoBrain®? The MondoBrain® technology is an award winning root cause analysis tool that uncovers unknown relationships in your data. You will receive a thorough understanding of the driving factors behind complex issues with rules that are easy to understand and that are actionable. Over the last 10 years, many data analytic solutions have failed. The complexity of their workflows and their unwieldy user interfaces have made those tools serviceable only to data scientists. MondoBrain’s® founders realized the futility of these “black boxes” and developed a unique tool that offers Augmented Intelligence to a wide audience. MondoBrain® uses non-statistical algorithms based on Grothendieck scheme theory. Its user-friendly interface enables any user to easily adjust rules in real time and instantaneously observe the ensuing impact on the outcome. MondoBrain® makes its User smarter (Augmented Intelligence) and the User makes MondoBrain® smarter (Artificial Intelligence). Why Synpulse? Synpulse Management Consultants have broad experience in insurance, data preparation and analysis and project management. Synpulse employs a proven approach to help you identify actionable business rules that can be operationalized. *Source: Institut Pasteur, Unité de Pathogénie Virale, Paris, France Definition of Objectives Data Sourcing & Preparation Augmented Intelligence - MondoBrain® Define Actions & Implement

Transcript of Smart, Big Data Analytics for Insurance

Page 1: Smart, Big Data Analytics for Insurance

Synpulse and MondoBrain® join together to offer a proven and powerful Big Data, Smart Analytic Tool and an established implementation methodology that empowers you to make data driven decisions to improve your business immediately.

The Challenge:New data sources will undoubtedly become available and the velocity and volume of current data sources are growing. The future challenge will be to harness the power of all this data to drive business decisions and assess progress while earning a positive return on your data analytic investment.

The Solution:MondoBrain® and Synpulse bring you the technology, the approach and the expertise - a comprehensive solution that empowers you to understand, explain, predict and monitor critical business issues. You don’t have to invest in an expensive data scientist army or rely on highly technical solutions that are difficult to interpret. Finally you can easily answer the question – “What critical combinations of factors are improving or diminishing my performance and how do I implement the necessary changes?”

Why MondoBrain®?The MondoBrain® technology is an award winning root cause analysis tool that uncovers unknown relationships in your data. You will receive a thorough understanding of the driving factors behind complex issues with rules that are easy to understand and that are actionable.

Over the last 10 years, many data analytic solutions have failed. The complexity of their workflows and their unwieldy user interfaces have made those tools serviceable only to data scientists. MondoBrain’s® founders realized the futility of these “black boxes” and developed a unique tool that offers Augmented Intelligence to a wide audience. MondoBrain® uses non-statistical algorithms based on Grothendieck scheme theory. Its user-friendly interface enables any user to easily adjust rules in real time and instantaneously observe the ensuing impact on the outcome. MondoBrain® makes its User smarter (Augmented Intelligence) and the User makes MondoBrain® smarter (Artificial Intelligence).

Why Synpulse?Synpulse Management Consultants have broad experience in insurance, data preparation and analysis and project management. Synpulse employs a proven approach to help you identify actionable business rules that can be operationalized.

*Source: Institut Pasteur, Unité de Pathogénie Virale, Paris, France

Definition of Objectives

Data Sourcing & Preparation

Augmented Intelligence - MondoBrain®

Define Actions & Implement

Page 2: Smart, Big Data Analytics for Insurance

The Unique Value PropositionArti�ficial intelligence – MondoBrain® uses artificial intelligence to uncover relationships in data. It enables you to predict and influence the future!

Easy to access – MondoBrain® is a cloud solution so no onsite installation or IT involvement is needed.

State of the art technology – MondoBrain® is powered by a machine learning, non-Euclidean knowledge extraction engine that leverages Apache Hadoop and harnesses Apache Spark.

Made for a business user – No Data Scientist required! MondoBrain® can be used by anyone. It provides simple, explanatory and actionable rules.

Augmented intelligence – Evaluate your business knowledge against business facts and augment your knowledge against past performance. Answer the question – What critical combinations of factors are improving or diminishing your performance?

Dynamic visualization – A dynamic Multi-Dimensional Visual Analyzer that enables you to visually edit and adjust rules to suit your business needs.

Why Employ Smart Analytics in Insurance?Pricing Optimization – A marine insurer used MondoBrain® to gain a better understanding of its portfolio. Nine rules identified 42% of vessels with an elevated risk. Four rules were identified that covered 86% of the fleets at risk, which in turn were linked with 90% of all major losses (€111.6 m in 5 years). With MondoBrain®, the marine insurer improved their pricing and rewarded good customers.

Fraud Prevention – A global insurer used MondoBrain® to pinpoint exactly which claims accounted for 51% of proven fraud. Two types of operational rules were set up. One for prevention (7 to 35 times higher probability of fraudsters) and one for warning (5 to 7 times higher probability of fraudsters). With MondoBrain®, the global insurer identified 68,000 non-investigated claims with a potential extra savings of €10 m.

Pro�fitable Growth – A French insurer used MondoBrain® to increase new business. Eleven rules detected opportunities via an expansion of insured surfaces and techniques for managing insured properties. The French insurer was able to increase their new sales through better customer segmentation by roughly €1 m (790,000 m² of new properties) and reduce the losses related to property incidents by €2.3 m.

Customer Retention – A global mutual insurer used MondoBrain® to increase customer retention and improve up-selling of home, motor and health insurance. An example of a MondoBrain® rule for home insurance attrition was: customers with at least two home insurance contracts, who rent their main home, are 2.7 times more likely to leave. The rules identified with MondoBrain® allowed the insurer to more precisely target customer groups.

Contact

Associate Partner &Managing Director

Marcel Loetscher Manager

Marc Intrator

Synpulse 140 West 57th Street, Suite 5ANew York, NY 10019

TEL | 347.605.5292EMAIL | [email protected]

Synpulse 140 West 57th Street, Suite 5A New York, NY 10019

TEL | 516.513.2846EMAIL | [email protected]