ANALYTICS ADVISORY SERVICES

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Nolan provides services designed specifically to help insurers effectively adopt and manage analytic capabilities across the enterprise. These include:

INSURANCE ANALYTICS OVERVIEW

This program lays out the current landscape of analytical opportunities in insurance. The differences between Business Intelligence and Predictive Analytics, and their differing methodologies and tool sets, are covered. The analytics life cycle and the methodologies to choose the right tools for specific applications are reviewed. Also delivered is a custom roadmap to build the organization, skills, capabilities, and change management methods which are essential for creating an effective analytics environment.

ANALYTICS MATURITY MODEL REVIEW

This program creates an enterprise view of how and where analytics are being used and determines how existing analytics can be leveraged throughout the overall business. A comprehensive review answers questions such as: Do we have consistent data and QA statistical practices applied? Are we duplicating efforts? Do we have an analytics strategy? The result of this effort is a gap analysis between best practices and current activities and a roadmap to maximizing the analytics investment.

EFFECTIVELY APPLYING ANALYTIC CAPABILITIES

This effort focuses on specific analytic activities within an insurer, such as:

The review addressees such issues as: Could we be using third-party data to enhance our results? Are our analytic processes built into our daily operations or applied in an ad-hoc fashion? Are we maximizing the capabilities of our analytic tools, and do we have the right skills and training with our staff?

ANALYTICS AS AN ENTERPRISE SERVICE

Experienced insurers are developing selected analytics capabilities as a shared service—components of data, analytical, and QA functions are supported by a team that is dedicated to the analytical function across the enterprise. This engagement helps identify which components should be centralized, which federated and how the analytics capability should be deployed and supported across the organization.