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Top 10 Insurance Analytics Consulting/Services Companies - 2019

As the insurance industry undergoes remarkable technological changes, insurers are taking drastic steps to improve operational efficiencies as well as lower the prices, thereby making the processes customer-oriented. Insurance agencies are focusing on offering personalized and frequent communications with their clients to drive transparency in communication. Organizations are adopting omnichannel distribution facilities for enhancing the frequency of customer interactions without compromising on the quality.

On the technology front, big data and analytics are playing an important role in aggregating and analyzing people data, thereby empowering insurance organizations to attain firsthand insights and better serve their customers. Social media platforms and interactions with customers are helping agencies extract valuable information and put them into action. Besides, organizations are deploying high-end technology, including IoT and connected devices, blockchain and mobile in an attempt to understand the customers better and improve their support. Underwriters are unlocking the power of AI and RPA for managing high volumes of data, parse and validate evidence faster and more cleanly through automation. Moreover, from the security perspective, the industry experts are leveraging blockchain as a central platform for accessing digital medical records in a secure fashion.

In addition, agencies are employing predictive analytics on carrier platforms to prioritize claims with an aim to cut down on costs, simultaneously saving time and resources. Organizations are utilizing predictive analytics to anticipate the needs of the insured people, consequently alleviating their worries while improving the customer-carrier relationship. While cutting-edge technology ensures quality for the Insurance industry, it is an uphill task for organizations to decide on one from the wide assemblage of trends. To make this task easier, a distinguished panel comprising CEOs, CIOs, VCs, Analysts and the editorial board of Insurance CIO Outlook has selected a list of Insurance Analytics Service Providers.

We present to you Insurance CIO Outlook’s “Top 10 Insurance Analytics Consulting/Services Companies - 2019.”

Top Insurance Analytics Consulting Companies

CyberCube delivers data-driven cyber analytics built specifically for the insurance industry. CyberCube is focused on solving the most difficult and important cyber risk challenges in insurance with world-class analytics. Its team is composed of multi-disciplinary experts across data science, cyber security, software engineering, actuarial modeling and commercial insurance. CyberCube offers a software as a service platform for cyber risk aggregation modeling and insurance underwriting. The CyberCube platform was established in 2015 by Symantec to apply the cyber security company’s unique sources of data, intelligence and expertise to cyber insurance analytics and now operates as a standalone company with continued access to Symantec data and resources

www.cybcube.com

Equian delivers payment integrity solutions through proprietary content, enabling technology, and highly responsive customer service. A fast-paced, innovative technology company ranked among the nation’s fastest growing healthcare companies by Inc 500, Equian provide solutions to healthcare payors in multiple markets throughout the world and connect clients to the lowest possible cost of care utilizing advanced technology, customized solutions, exclusive offerings and personalized service to drive optimal savings and reduce administrative demands. Equian is a leading provider of technology-enabled, data-driven solutions ensuring accurate payment integrity across the healthcare and property and casualty industries

www.equian.com

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector. Sapiens offers core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets, as well as business decision management software. The company has a track record of over 30 years in delivering superior software solutions to more than 400 financial services organizations

www.sapiens.com

In 2018, Forbes named Verisk Analytics to its World’s Best Employers and America’s Best Employers for Women lists. The company’s workplace culture earned the Great Place to Work® Certification for the third consecutive year. Verisk (Nasdaq:VRSK) is a leading data analytics company serving customers in insurance, energy and specialized markets, and financial services. It help customers make better decisions with greater precision, efficiency, and discipline. Verisk businesses include ISO, Wood Mackenzie, Verisk Maplecroft, Xactware, AIR Worldwide, Argus, and Verisk 3E

www.verisk.com

Groundspeed

Groundspeed

Groundspeed is headquartered in Ann Arbor, Michigan. The company is solving one of the insurance industry’s most substantive challenges: how to create value from unstructured information. The company's leadership blends C-level P&C and world class tech experience with successful entrepreneurship and deep product domain expertise. Groundspeed is a data science and artificial intelligence (AI) company serving commercial property and casualty insurance carriers, brokers and managing general agents (MGAs). The company helps clients unlock the value in unstructured information such as loss runs, exposure schedules and policy data to automate core processes and provide powerful predictive risk analytics that improve margins, identify profit pools, and improve customer experience.Groundspeed accelerates commercial insurance performance with the power of machine learning and artificial intelligence. The Groundspeed platform automatically turns files like submissions, loss runs, exposure schedules and policy documents into actionable information, empowering users to lower costs, identify profitable pools of risk and drive top-line growth

Guidewire Software

Guidewire Software

Guidewire Cloud™ is the optimal way to experience the power of Guidewire InsurancePlatform™, combining Guidewire software, services, and ecosystem in a scalable SaaS model. It scales according to use, provides cost predictability, and transfers IT risk to Guidewire. Expert Guidewire teams and SaaS-certified partners provide implementation services, security, ongoing management, and regular updates. All Guidewire products are available via Guidewire Cloud, which is powered by Amazon Web Services (AWS). Guidewire is committed to ensuring that client's business takes full advantage of the capabilities of Guidewire InsurancePlatform. That’s why a subscription to Guidewire Cloud includes Guidewire Cloud Assurance Services. Whether a client needs extensive configurations or simply want to run Guidewire's applications “out-of-the-box”, the company is committed to client's success. The Guidewire Cloud Assurance Services team verifies that all code running in Guidewire Cloud meets industry best practices and fulfills the company's service-level agreement (SLA) with clients

Information Builders

Information Builders

Information Builders is headquartered in New York, NY, with global offices, and remains one of the largest privately held companies in the industry. Information Builders' Professional Services team helps to maximize ROI from clients' business intelligence, analytics, and data management solutions. This professional service team is committed to customers' success and have proven it many times over in the cost-effective implementation of award-winning, game-changing, and revenue-generating applications across all industries. The professional service team of Information Builders utilize Strategic Value Assessments to identify business objectives, evaluate industry opportunities, leverage data assets effectively, and address business challenges. This methodology brings together the right people, processes, and technology for an organization's ideal solution

Origami Risk

Origami Risk

Origami Risk caters to the risk and insurance industry. The company approaches with s singular focus on its customers’ business objectives and outcomes in providing software and support. For Origami Risk, everything begins with its people—industry veterans capable of offering invaluable insight during implementation, eager to partner with clients to develop new, innovative functionality, and committed to ensuring customers continue to take full advantage of all the company has to offer. Origami Risk effectively manages every business risk, claims, safety, and underwriting activities. Whether clients use Origami's integrated system to handle claims, collect exposure values, assess risk, or underwrite policies, they will benefit from a seamless user experience that includes award-winning data aggregation & reporting, intuitive data analytics tools, rules-based decision support solutions, and the ability to automate almost any process. Origami Risk’s experienced professionals and can-do work culture are at the heart of our Best-in-Class Service Model

RVI Group

RVI Group

The RVI Group is the world’s leading provider of residual value insurance. For over 20 years, their solutions have brought financial, regulatory and accounting benefits to their clients, who are active worldwide in leasing, asset-based finance, and asset securitization. RVI’s core business continues to grow, and they are leveraging their strengths to diversify into complementary markets and geographies that offer additional growth opportunities. RVI Group's family of products and services now includes passenger vehicle analytical services and severance management

X by 2

X by 2

X by 2 is an IT consultancy focused on the practice of software and data architecture in the insurance and healthcare industries. It is a specialized group of enterprise, application, data, and integration architects and software engineers that delivers impact from strategy and architecture through project delivery. For over 20 years, X by 2 has worked with industry leaders in healthcare, insurance, retail and more, providing high impact strategy, architecture and implementation services