DECISION MANAGEMENT FOR INSURANCE

Traditional broad-brush methods produce diminishing results. Greater precision is needed to:

>	Drive consistent profitability targets across hard and soft market cycles;
>	Identify the most profitable market segments for targeted growth initiatives;
>	Reduce risk while cutting time and cost out of underwriting processes;
>	Detect, prevent and recover more fraud with existing review staff;
>	Improve customer service and consistency across channels while reducing channel expense;
>	Improve marketing results through relevant products and scaled down, better focused campaigns;
>	Comply with proliferating regulations and improve risk governance without adding operational complexity and cost.

Leveraging FICO’s expertise, technology and applications, SAFIRA can offer Decision Management solutions for Insurance, in four domain areas:

>	UNDERWRITING & PRICING Fast, accurate and automated quoting, underwriting and new business processing across multiple channels Sharp separation by risk for pricing tier expansion and new product development Separation of renewals for auto-processing from those requiring review Analytics insights for shaping product and risk portfolios and targeting growth initiatives Rapid modification of policies and processes by underwriting managers
>	FRAUD DETECTION & CLAIMS PROCESSING Prepayment scoring of claims for fraud, abuse and error For healthcare payers, automated monthly scoring of providers for unusual billing and care patterns For worker’s compensation insurers, ongoing scoring of open claims Detection of emerging schemes and processing policy vulnerabilities Intelligent claims review, case management and investigative tools; Selection of worker’s compensation policies for premium audit Rapid modification of scoring thresholds and review processes by claims managers
>	MARKETING Analytically precise segmentation and targeting Relevant offers and focused campaigns based on predictions of individual prospect/customer response behavior Identification of best prospects for cross selling and up-selling within renewal populations Tailored interactions with individual prospects/customers across any channel Fast-cycle learning for campaign refinement Rapid modification of campaign rules by marketing managers
>	COMPLIANCE Consistent enforcement of regulatory mandates across core insurance processes and multiple channels Flexible adjustments to varied state and market requirements Automated compliance documentation and audit tracking Precise (claim-level) risk predictions for reserving Rapid modifications of regulatory rules by compliance managers