Canopus Data Insights- Data Science Products, Solutions and Services

Insurance industry faces several challenges like-rapidly changing customer requirements, competitive environment, demanding regulatory guidelines, and consumer environment. With all these challenges, insurance organizations need to apply Data Science which will help them stay ahead in the competition.

Data science is drawing the attention of all the Insurance organizations around the globe and 90% of the organization thinks that successful Data Science initiatives will define them as winners in the future. Banking and Insurance are leading in applying data science techniques. There are multiple internal data sources in Insurance companies like- customer databases, vehicle database, enterprise applications like ERP and CRM.

To know more about us: http://canopusdatainsights.com/

Today’s latest technological advancements make it possible to gain insight from data. Insurers can benefit from new data sources to better target customers to specific, and potentially more suitable, products. Analyzing social media content and internet search histories help predict customer choices and responses. In turn, this analysis can be used to match customers to particular products. A related analysis of trends in choices and behaviors also increases an insurer’s perception of changes in consumer needs, and this insight can be valuable in the advancement of innovative new products and design of new features. Leveraging Data Science analytics leads to more confident decision making, which means greater operational efficiencies, cost and risk reductions.

Managing that data is a complicated process which requires special skill sets and deriving insights from that data is what every organization anticipates. Data Science enables insurers to check their candidates’ risk profiles in much higher detail this allows insurers to establish premiums more precisely, in greater association with the similar level of risk. More precise and accurate risk estimate could grow insurance coverage or make it lower in some cases, such as where a risk would be rejected under a full evaluation, but considered admissible in the light of higher knowledge. For example, the increased transparency in the level of risk could see fresher drivers separately designated to bigger and smaller risk sections.

An Indian Data Science Company, Canopus Data Insights is a leading provider of Data Science Products, Solutions and Services, to clients, from start-ups to large enterprises. It has expertise in generating insights from Insurance Data and converting it into profitable business outcomes, be it Big Data or traditional data, structured or unstructured.

About the Company:

Canopus Data Insights provides Data Science and Data Analytics services that enable customer centricity by giving insight into data, which improves productivity and increases the depth of customer engagement and predictive modeling to make big decisions. Canopus Data Insights has an extensive knowledge and experience working with many domains including Data Analytics, Machine Learning, Pattern Recognition, Statistics, Artificial Intelligence, Operations Research and Big Data. For more information visit www.canopusdatainsights.com

Canopus Infosystems is an Iso 9001:2008 Certified Company that specializes in providing outsourced web & mobile development and testing services to clients worldwide.