Solution Overview: Banking & Insurance

How does CrowdANALYTIX help with banking and insurance?

CrowdANALYTIX applies the latest in data science to achieve your automation and cost reduction goals. Our solutions are deployed on a secure, scalable server and integrated via APIs. Our consultants first understand your business challenges and then custom-build a scalable solution by selecting the best models, enabled by our community of over 25,000 data scientists.

What are the benefits of working with CrowdANALYTIX?

Many AI and digital transformation initiatives fail for three primary reasons:

1) Business challenges are not translated correctly into data science problems;       

2) Data is not structured and is not ready for analytics;

3) Not enough is done to eliminate biases and arrive at an optimal solution.

Our unique approach has helped several global enterprises avoid these failure points and successfully scale AI solutions.

Our solutions

DiscoverX

Our 4-week program explores your unique business challenges and delivers a customized AI roadmap. Achieve AI-driven business growth via improved efficiency and new revenue streams.

DataX

You accumulate terabytes of content in the form of images, videos, audio and text. We auto-tag these documents so that you don’t need to do so manually.

DevelopX

Our custom platform to build, manage, and deploy a suite of AI models for your business DevelopX handles everything needed to maintain relevant, profit-boosting, swift AI models.

DeployX

Making your internal models API enabled and auto-scaling. Continuous monitoring and optimization is part of the package.

How it works

Our four step process starts with defining your AI roadmap and ends with maintaining and tuning your production solutions.

We evaluate your current data and business challenges to prioritize the areas that can yield the highest, fastest ROI. We can take your business all the way from mapping out an AI strategy and structuring data, to building, managing, and deploying the most complex AI solutions.

Data is handled securely either within your premises or with appropriate anonymization and encryption.

Banking & Insurance

We help financial institutions predict the cost of financial assets and minimize the risk of non-compliance and fraud

Autonomous Master Data Management

Automatically extract structured tags, attributes from unstructured data like images, videos, audios and text.

Predict Risk of Default

Based on customer profiles, determine the probability that a customer will default and estimate when the default will happen.

Asset Pricing Optimization

Predict the price of a financial asset based on risks and customer profiles.

Fraud Detection

Evaluate transactions to determine and flag anomalous transactions for further scrutiny by fraud experts.

Customer Churn Prediction

Predict which customers are likely to churn and recommend specific interventions based on the factors influencing each customer’s decision.

Identify Upsell Opportunities

Analyze customer behavior and determine opportunities to upsell new products for each customer.

Workforce Optimization

Predict flight risk of employees and prescribe recommendations to maximize retention and productivity.

Customer Feedback Analytics

Automate analysis of customer feedback to influence product design, marketing, store layout and other business decisions to make shopping easier.

Predict Cost of Insurance

Predict cost of high value claims like worker’s compensation claims to influence pricing and early interventions to minimize cost.

Case studies: Banking & Insurance

Mid-sized US Bank

Predict loan default risk and loan loss across assets and customer classes.

Top Insurer of Worker’s Compensation Claims

Predict the cost of worker’s compensation claims based on over hundred factors and performance over the last ten years.

Top US Insurer

Predict probability of a claim being rejected right at the hospital desk and recommend remedies to minimize these denials.

Medical Practitioner Fraud Detection

Customized dashboard enabled the client to identify physicians with higher risk and easily integrate it in the claims process

External Risk Assessment

Assessment of external risk factors to determine compliance risk for banks.

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