Insurance

With Minitab's Insurance Industry Module, you don't have to learn statistics to analyze your data. Our solution allows you to collect data in real-time or analyze it later. You'll be able to easily interpret your findings to make improvements that help grow your top line, predict costs and improve customer satisfaction.

Let our solution make analysis easier, so you can concentrate on what really matters, such as improving key performance indicators (KPIs) like time to settle a claim, underwriting speed, revenue per policy holder, claims ratio and more. If you have any questions, we're here to help you every step of the way through your analysis. Simply reach out to our industry-leading technical support team via phone or email for assistance.

When customers make claims, they introduce uncertainty for insurance companies. Insurance companies must immediately record reserves on their balance sheet to account for the potential liabilities associated with the claims. Capital must be tied up to cover these reserves, which also means insurance companies cannot use that money to generate income. Claims adjusters must be deployed to deal with the case and customers grow frustrated waiting for a resolution. By expediting claims, companies can improve both profitability and the customer experience.

At Minitab, we help you better understand your customers no matter where you are in your data analytics journey. Perhaps you already understand your customers and need to ensure your surveys are reliable? Or maybe you’ve just collected tons of information from your customers and need help analyzing it. Regardless, Minitab can help you better understand your customers so you can improve their experience and not only retain, but also grow their business with you.

Predictive analytics is a powerful tool that is gaining a larger role in the insurance industry. With increasing access to data, insurance companies now have the power to harness their data to make predictions and operationalize models to boost their performance.

Developing an effective continuous improvement program takes a combination of skill, hard work and tools. Armstrong Flooring leveraged the capabilities of Minitab Engage to build and track training initiatives and projects, ultimately creating a robust and sustainable continuous improvement program. Learn from their success story and see how Minitab Engage can help you achieve your improvement goals.

Whether a company is interacting with consumers or other businesses, the customer contact center often serves as the first point of contact and impression for the organization. For insurance companies, after an initial policy purchase, the next customer contact may be during times of distress. It's crucial that the customer contact center delivers top-notch service, acts with efficiency and provides customers with the best possible experience.

Learn the data analysis techniques necessary to gauge whether processes are on target, explore relationships between variables and minimize defects, utilizing metrics such as time, ratings and revenue. Statistical principles will be presented through real-world examples and exercises, all supported by Minitab Statistical Software.