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How advanced analytics is used in life insurance in India

Advanced analytics has received a boost with emerging of new data sources, tools, methods and technologies, writes the Economic Times.
How advanced analytics is used in life insurance in India

An advanced analytics allows organizations to use all their internal range of data that has not been investigated in the past, such as audio files from the ambulance call center, email messages and client chats with a medical facility.

It is easy to choose the right policy for anyone based on advanced analytics. Besides, it allows predict customers' applications in advance, quickly track them and automate management processes.

Insurance companies use analytics to manage certain internal processes, such as sales efficiency and hiring new employees.

There has been a steady increase in use of advanced analytics in the insurance sector of India to improve the quality of customer service aiming at the right insurance options. Besides, the advanced analytics can be used to calculate the required insurance amount for individuals and simplify the claiming process.

Source: https://cio.economictimes.indiatimes.com/news/business-analytics/how-advanced-analytics-helps-insurance-sector-by-improving-revenue-visibility/71507656

Photos are from open sources.

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