Analytics Solutions
AI-Powered Intelligence & Analytics for Property Insurance
AI-Powered Data Analytics & Intelligence for Property Insurance
The power of our cutting-edge AI/ML model and extensive property related data, brings the most innovative, accurate assessment of personal and commercial properties to identify and mitigate property risk that can improve underwriting and customer experience outcomes. By making informed decisions in underwriting risk selection, our model revolutionizes the underwriting and risk assessment to stay ahead in a rapidly evolving market.
Comprehensive Insights
Our model leverages comprehensive property intelligence scores, including Property Score, Overhead Score, Exterior Score, NatCat Score, and Permit Score, to provide a holistic understanding of property characteristics and accurately assess risk levels.
Extensive Data as the Foundation
The value of AI/ML models is based on access to rich, reliable data. Property Intelligence leverages an extensive collection of unique industry data, including 2 billion observational data points and 200+ million photos & images from over 16 million Loss Control surveys. Combined with third-party data, this creates the most robust risk assessment model, allowing insurers to make effective underwriting decisions. Additionally, our AI-enabled property intelligence framework continuously refines its predictive capabilities, ensuring timely property intelligence for insurers.
Improved Underwriting Profitability
Unlock the potential for improved underwriting profitability with the industry’s most data-rich property underwriting model. With simplified yet insightful analysis, insurers can refine their decision-making process, ultimately driving profitability to new heights. Our analytics-based property intelligence platform enhances risk evaluation with granular property intelligence, helping insurers make more informed decisions.
Enhanced Underwriting & Profitability
- Make informed decisions based on accurate risk assessments, leading to better risk selection and increased profitability.
- Evaluate properties quickly and efficiently, reducing turnaround time and enhancing overall operational efficiency.
- Gain a complete understanding of each property with comprehensive insights, enabling accurate risk assessment and tailored underwriting strategies.
Data Driven Insights & Risk Management
- Leverage extensive data with billions of observational data points and millions of images collected from Loss Control surveys, enabling confident and accurate underwriting decisions.
- Identify potential risks, evaluate loss control measures, and proactively manage risks, reducing losses and improving overall risk management practices.
- Embrace cutting-edge technology to drive innovation, improve customer experiences, and differentiate offerings.
- Access on-demand property intelligence to support real-time decision-making in a dynamic insurance landscape.
Scalability, Flexibility, & Expert Support
- Accommodate the evolving needs of your organization, whether in personal or commercial lines, supporting growth and adaptability.
- Benefit from deep industry expertise and dedicated support, receiving guidance, training, and ongoing assistance for successful utilization of property intelligence.
- Utilize AI and ML models to stay ahead of the competition, capitalizing on innovative solutions and optimizing outcomes.
- Leverage modern property intelligence tools to streamline risk assessment and improve underwriting processes.
“Majesco’s ability to leverage ML based models for various solutions and the two main solutions they have created were a property intelligence solution and subrogation intelligence solution.”
Nehan Jain, Analyst, Quadrant Knowledge Solutions
Featured Resources
Blog
ChatGPT and the Future of Insurance with Large Natural Language Models
Do you remember a decade ago when IBM Watson trounced Ken Jennings, the best human “Jeopardy!” player ever, showcasing the power of artificial intelligence (AI)? It was the beginning of a technological revolution that spurred businesses to explore AI’s possibilities to drive innovation and optimization. Today it is ChatGPT that is stoking the fires of…
Podcast
Decoding the Data
Majesco’s Denise Garth welcomes Pat Davis, Majesco’s SVP & GM of Data & Analytics, to discuss the growing focus on data and analytics for insurers. We’ll explore how machine learning and AI are changing insurance, opportunities and challenges in using data, what defines a next-gen solution, the evolution of underwriting and data, and where you…
FAQ
According to Investopedia, Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions.
There are a lot of benefits but some of the biggest ones are improving efficiency in the organization, growing productivity, and making rapid decisions based on advanced technology.
AI can guide customer support requests to the correct department or give background to the person assigned to manage the request before they engage with the customer to provide full context of the situation.
