Monitoring Loss Ratio
InsuranceBusiness Impacts
Reduction in loss ratio
Better decision-making
Customer Key Facts
- Location : North America
- Industry : Insurance
Problem Context
The customer is a leading pet health insurance company in the U.S. and Canada that provides insurance for pet owners to cover veterinary bills. They wanted to reduce loss ratio incurred to increase profits.
Challenges
- Data available was highly unstructured
- Integration of multiple source applications and web-based sources
- Data cleaning and ensuring data consistency
Technologies Used
Google Dataflow
Tableau
RStudio
Python
An Intuitive Dashboard to Monitor and Diagnose Key Factors Driving Loss Ratio
Solution
Quantiphi developed a Profitability Dashboard to summarize the data and make it analysis ready. This helped the client understand whether there is any correlation between Loss Ratio and other features.
Result
- Generated valuable insights that helps the client make efficient and more informed decisions, helping reduce loss ratio
- Enabled the client to understand and monitor various KPIs, including a detailed look at loss ratio at a breed group level
