Improve business performance and gain competitive advantage with real-time analytics capabilities spanning the entire insurance value chain. MapLarge's powerful GIS based platform and big data applications can build risk insights into daily decisions and help ensure risk professionals have the ability to accurately deliver intuitive and informative results.
Measure, Monitor, and Manage Risk
Evaluate critical and complex insurance metrics with easy to use visualization tools, modular dashboards, and multi-dimensional reports. Deliver actionable information to processors in the field, managers, and decision makers using a flexible and scalable web based technology solution that is compatible with desktop and mobile devices. Improve claims processing, manage risk, find new areas of value, and increase revenue with data driven decisions incorporating visualization, predictive analysis and interactive modeling.
Practical Application Uses
- Provide increased responsiveness to policyholders and claimants and improve cycle time in processing claims and payments
- Analyze claim data with specific criteria such as type of business, location, or geography, if there is a sudden or unexpected increase or decrease in claim activity
- Identify exposure and location of potential losses in the event of a disaster
- Quantify financial information, such as claim frequency, severity, paid losses, incurred losses, loss adjustment expenses incurred, outstanding reserves, reserve adequacy, and net paid losses
- Analyze business/commercial risks where significant losses are possible
- Assess patterns of loss and provide actions for mitigation corrective actions or adjustments
- Calculate and track loss ratios and loss frequency by line, state, policy form, or risk category