Software Analyzes Insurance ClaimsTeradata has released Teradata Behavior Explorer, an insurance-specific business intelligence application that will focus on the claims section of property and casualty companies.
Teradata, a division of NCR Corp., said that when the new application is combined with its data warehouse, it will allow insurance companies to reduce property and casualty claims costs by better assessing and improving claims management.
Two modules help manage customer interactions and assess the effectiveness of claims management, Teradata said. The first, called Product View, analyzes product holdings by customer, product and distribution segments. The second module, Transaction View, provides utilization analysis to determine the effectiveness and productivity of its claims service administration.
Each claim interaction such as new claim reports, payments, closings, reserve changes and salvage recovery are defined as events to be used to profile the behavior of specific customers and larger customer segments.