Life, Annuity & Health

L&AH Insurance Analytics Software

Data as a Strategic Asset

In today’s digital age, data and analytics are the fuel for effectiveness and innovation. Technology advances offer new sources of data that lead to unique ways to interact with customers, evaluate risk, offer innovative products, and reach customers via new channels. Too many insurers struggle to make full use of their internal data assets, which exist in multiple locations and formats across the enterprise, let alone new data sets from emerging technologies and external sources. 

Analytics Solutions 

Effective data solutions are key to a good customer experience. They help insurers share meaningful data insights that can drive business growth and quickly meet customer expectations.

Business Intelligence for L&AH  

Business Intelligence for L&AH is a powerful, data-driven solution that captures, analyzes, visualizes, and reports on data and information to empower the L&AH and Group Benefits business.

“Investing in digital transformation and getting the most value from data and analytics are top of mind for insurance company executives. The focus on data and analytics is accelerating now especially as digitization and virtualized customer transactions grow due to COVID-19. Data and analytics are seen as a competitive advantage that makes it easier to do business, make better decisions, and improve customer knowledge translating into an improved customer experience.” 

Keith Raymond, Analyst, Celent

FAQ

What is Data Nexus? 

A powerful enterprise data warehouse that enables insurers to rapidly assemble large data sets from internal and external sources and mine them for transformational insights that position them as market leaders. 

How does Data Nexus leverage internal, external, and unstructured data? 

Majesco Data Nexus adapts to the growing sources of new data with a flexible business and technical architecture framework. Built on a standard MS SQL Server BI Platform, enabling insurers to be 100% self-sufficient, it is pre-integrated with the Majesco P&C core software portfolio yet is flexible to integrate with other industry software solutions as well. 

Why is an insurance enterprise data warehouse crucial for a carrier’s digital transformation? 

Data is at the heart of insurance, from the operational data of core systems to the use of 3rd party data integrated for use in pricing, underwriting, claims and more. In addition, new sources of data are emerging that will offer opportunities for new innovative products and personalized use for underwriting – such as IoT. To support this range of data, insurers need a data foundation in place with an enterprise data model and warehouse that automates the process of collecting and organizing data from multiple sources, and provides a single source of truth across your enterprise to enable efficient analysis, reporting, and more, to enable your transformation to a digital insurer. 

The Future Starts With Majesco