Data science for insurance

Today's complex insurance marketplace requires innovative solutions to data science. Climate change, cybercrime and emerging technologies like autonomous vehicles and smart homes are creating new risk landscapes that traditional underwriting and valuation methods simply can't handle. Insurers need analytics that are lightning-fast, laser-accurate and adaptable. Unfortunately, legacy approaches to risk assessment, pricing and fraud detection fall short, which means lower profits, dissatisfied customers and worst of all, exposure to massive, unanticipated losses.

Siemens RapidMiner® empowers insurance companies to harness the power of machine learning (ML) without requiring extensive data science teams. The portfolio enables insurers to assess risk with unprecedented precision by combining ML algorithms with vast new data sets from IoT devices, wearable devices and digital channels. RapidMiner® automates routine underwriting and claims processing, flags fraudulent applications in real-time and optimizes pricing at the individual customer level. Explore how this software helps you drive revenue growth, cut operational costs and protect against emerging risks in an increasingly complex industry landscape.