Financial Services and Insurance

Financial Services and Insurance

There is increasing competition, stringent rules and compliance and tightening margins in the financial services and insurance sector today. Processes need to be improved and agile by incorporating available digital data along with existing data sources for faster decision-making.

The second largest title insurance company in North America engaged Business Brio to guide them in understanding and getting insights into fraudulent transactions. Understanding the patterns in the title plant from various data sources for previous transactions on properties and identification of the outliers for flagging for special diligence were critical success factors. Dynamic models enabled quicker diligence and faster decision-making.

Forecasting

At Business Brio, we have used Single Exponential Smooth, Double Exponential Smooth, ARIMA and back-propagation neural network. We did find Neural network to have better forecasting performance than the classical forecasting algorithms in case of wind energy forecasting for a particular project and won the NASSCOM Analytics Innovation award in 2015 for effectively using the same for business.

Optimization

Methods like Goal Node, Integer Linear Program, Simplex Method and Interior Point Method are used depending on the context and relevance. At Business Brio we use Lindo as a tool for optimization.

Machine Learning

Unsupervised and supervised learning methods like regression, support vector machines (SVM),KNN, K-means, PCA are used to recognize patterns and make data-driven predictions or decision outputs. We extensively use Python and R for applying the algorithms.

Decision Trees

CART, CHAID, Random Forests, mathematical and computational techniques are used to aid the categorization and classification of a given data information. Apart from programming tools, we also use WEKA for decision trees.

Sentiment Analysis

Opinion mining or emotion AI refers to the use of natural language processing, text analysis, and computational linguistics to systematically identify, extract, quantify, and study affective states and subjective information. In past projects, we have heavily used LSE, HSA, text mining for semantic algorithms.

Business Brio uses advanced analytics techniques for faster decision making in loan processing and fraud detection.

Early Warning System

Analyze trend and patterns by leveraging big data from different systems on various attributes like geography, agent groups, mortgage release information and develop an early warning system for possible frauds using machine learning algorithms

Customer Analytics for Growth

Leverage data to boost customer base, develop customer retention strategy, up-sell and cross-sell for boosting portfolio growth and analyze campaign performance by visualization and interactive dashboards

Fraud detection

Detect medical cases with high probability of fraudulent claims from providers and create diligence path for prevention of frauds using predictive models

Credit Risk

Identify customers with high probability of default for quick decision making while loan disbursement in financial services using machine learning and decision models

Applications

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Take faster decisions with insights from risk models and early warning systems.

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Our Engagements

Our Engagements

zainTech MahindraTata MetalinksPWCCESC LimitedIndia Tobacco Company LimitedADN TelecoMotherson Sumi Systems LimitedMSMEFirst American Title Insurance CompanyCRISGreen Delta InsuranceRailtelWest Bengal Biodiversity BoardNational Medicinal Plants BoardHIT PROMONorthern TrustPrimetals

We equip our clients to deliver
value out of volume of data.

Contact Information
UAE Correspondence

Dubai Silicon Oasis
SIT Tower, 6th Floor, Office 607,
P.O. Box 341081
Dubai - United Arab Emirates

US Correspondence

75 E. Santa Clara St,
Suite 600, 6th Floor,
San Jose, CA 95113, USA

INDIA

14th Floor, Unit 14, Tower 1,
Srijan Corporate Park,
Block GP, Sector 5,
Salt Lake City,
Kolkata 700 091, India

UK

20-22 Wenlock Road, London
N17GU, England

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