INSURANCE CLAIMS

DASHBOARD

Industry

#insurance

Business Value

#business-intelligence
#data-aggregation

Tech

#data-visualization
#full-stack-solution
#advanced-analytics

Context

Big Data and new digital technologies are revolutionizing the world of insurance, especially in the damages sector. The processing of the large amount of data through increasingly sophisticated analysis models allows insurance companies to better understand customer behavior, quantify actuarial risks more accurately and offer cheaper products and personalized services.
 

The client offers technological solutions to support the innovation of the business models of Banks, Insurance companies and financial consultants. A reference point in the sector, it responds to main business challenges thanks to advanced analytical and data science techniques and strategic advisory services.

Challenge

In order for insurance companies to remain profitable, they need to keep constant track of their different policies claims. Innovation has also allowed the use of technologies able to reduce the cost structure with the use of image analysis algorithms capable of quantifying cars damages after an accident.

The customer needed a claims analysis dashboard that would allow companies to develop advanced analysis to discover trends and opportunities by integrating data originated from appraisals results with the data provided by the Machine Learning system.

Solution

A full stack solution was developed with a front end consisting of a single page application in Angular that would allow a multidimensional and interactive data visualization in order to allow an advanced segmentation on several parameters and in various techniques.

The dashboards have been created with custom components and include a dynamic filtering system that incorporates the display of values distribution on a barchart and a system for comparing Machine Learning estimates with appraisal data that allows a visualization of time trends of the related KPIs.

A particular focus was dedicated to cars damages representation through heatmaps on cars pictures.

Value

Data interpretation efficiency improvement

  • Better data interaction

  • Better views customization

 

Faster new trends and anomalies recognition

 

Identification of profit opportunities and cost reduction

  • policies premium adjustment

  • new policies definition

  • reduction of losses due to complaints

Tech

  • Client: Angular

  • Server: Java 6, Maven, JBoss

  • DB: MongoDB

  • Data Visualization: Chart.js, D3.js

  • REST API: RESTEasy

  • ORM: Hibernate

Project details

Team: Project Manager, Software Architect, Full Stack Developer x2
Methodology: Scrum
Duration: 3 months