After working in the insurance sector for a few months, it became clear to me that the significance of data visibility is frequently disregarded. Dealing with a vast volume of data should compel all insurance companies to monitor and manage their data if they wanted to keep a competitive advantage. However, this is not always an easy task and that's where distriBind comes in, providing an innovative visibility solution that is revolutionising the insurance industry.
distriBind provides the important leverage of ingesting any file, no matter the type, making it the perfect platform for data monitoring. It is a centralised platform, in which all the data across the full life-cycle of risk, premium, and claims is accessible. However, just having access to data is not enough. The unified data management that the distriBind provides, allows the users to see, understand, and analyse the data, and make informed decisions based on it by saving a considerable amount of time and cost. Also, assists in managing risk, since allows insurance companies to assess their exposure to risk in an easy-to-see way and take corrective action if necessary.
No one can deny that making an accurate decision is highly related also to how up-to-date the data is. As a result, distriBind supports real-time APIs that permit data to be transmitted from distribution to capacity in real-time to secure that the latest data is available. Due to my job, I am aware of how crucial it is to keep an eye out for data inaccuracies. This is another sector in which the platform provides visibility by highlighting any data error and warning, enriching the user’s data knowledge. In this way, the standards for quality and consistency can be met.
Another beneficial part of distriBind that, in my opinion, adds significant value to all the companies across the whole value chain, is the analytics. At distriBind, we know how monitoring crucial metrics can lead to an important data-driven decision. For this reason, several dashboards which track insurance key performance indicators are available. We are putting the customers at the centre of delivery and our goal is to meet their needs, so hyper-personalised analytics based on their needs are offered. Also, the company’s analytics include a portfolio-level capacity prediction, which will enrich the operations decisions.
If all this sounds important to you and you want to get ahead of the competition, please do not hesitate to get in touch at contact@distribind.io. A short demo will help you to understand more about distriBind and the data visibility benefits that it can bring to you and your business.
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