Insurance
Unlock the Future of Insurance
In an industry as data-driven as insurance, the stakes are high. Cinchy understands this. We specialize in enabling “Controlled Co-Production of Data,” the foundational pillar that transforms the way you manage, share, and leverage your data.
Why is Controlled Co-production of Data important for the Insurance Industry?
The insurance industry is constantly evolving, grappling with regulations, mergers, legacy systems, and the ever-growing customer expectations. At the heart of this are your data silos.
Controlled Co-Production of Data breaks down these silos, making it possible for different departments or even different organizations to collaborate on a single version of the truth. This doesn't just mean more efficient processes—it means unlocking new capabilities that weren't possible before.
Data Federation
Avoid central bottlenecks by distributing work across business domains. This ensures that data is not confined but can flow seamlessly where it's needed most, all while maintaining utmost security and compliance.
Data Liberation
Achieve 2-way sync of data between your existing systems and Cinchy’s semantic model. This avoids the need for use-case specific integrations and frees your data to be leveraged across multiple use-cases and systems.
Data Collaboration
Engage in controlled co-production of data, enabling real-time collaboration across different teams, vendors, or even customers. Set the rules for how data is shared, edited, or deleted, ensuring that everyone is always on the same page.
Top 10 Use Cases in Insurance
Policy Management
Address issues like duplication and inconsistency, ultimately delivering faster policy issuance and lower error rates.
- Collaborative Data Product: Lease attributes
- Teams: Legal, Leasing, Accounting
- Systems: CRM, ERP
Claims Processing
Resolve problems like processing delays and fraud detection, resulting in reduced fraud and faster settlements
- Collaborative Data Product: Claims Record
- Teams Involved: Claims, Fraud Prevention
- Systems Involved: Claims Management, Analytics
Customer Onboarding
Resolve issues related to data redundancy and compliance, leading to accelerated onboarding and reduced risk.
- Collaborative Data Product: Customer Profile
- Teams Involved: Sales, Compliance
- Systems Involved: CRM, Compliance Tools
Risk Assessment
Aggregate and cross-reference data from various sources to make more accurate pricing decisions and risk assessments.
- Collaborative Data Product: Risk Profile
- Teams Involved: Underwriting, Actuarial
- Systems Involved: Underwriting Platform, Analytics
Product Development
Address issues of inconsistency and slow updates, resulting in faster time-to-market and improved customer targeting.
- Collaborative Data Product: Product Catalog
- Teams Involved: Product Development, Marketing
- Systems Involved: Product Management, Marketing Automation
Agent Performance Metrics
Solving problem related to performance tracking and commission calculation, leading to improved agent productivity and accurate commission payouts.
- Collaborative Data Product: Agent Scorecard
- Teams Involved: Sales, Human Resources
- Systems Involved: CRM, HR Software
Regulatory Compliance
Address issues like data inconsistency and audit failures, resulting in streamlined audits and lower compliance risk.
- Collaborative Data Product: Compliance Dashboard
- Teams Involved: Compliance, Legal
- Systems Involved: Compliance Tools, Document Management
Marketing Campaigns
Resolve problems related to fragmented data and ROI measurement, leading to improved ROI and efficient campaign execution.
- Collaborative Data Product: Marketing Analytics
- Teams Involved: Marketing, Analytics
- Systems Involved: Marketing Automation, Data Warehouse
Underwriting
Solve issues related to inconsistent data and slow response times, enhancing customer satisfaction and product improvement.
- Collaborative Data Product: Customer Feedback
- Teams Involved: Customer Service, Product Development
- Systems Involved: Support Software, Product Management
Billing and Payments
Address problems like payment errors and manual reconciliation, resulting in faster payments and reduced errors.
- Collaborative Data Product: Billing Records
- Teams Involved: Finance, Customer Service
- Systems Involved: Billing System, CRM
Seamless Digital Transformation
Building on Existing Investments
You don’t have to rip and replace your existing systems to take advantage of Cinchy’s capabilities. Our platform integrates seamlessly with your existing technology, enhancing it through controlled data collaboration.
AI with Confidence & Trust
Future-Proof Your Technology
Cinchy's data collaboration uniquely enables controlled deployment of advanced technologies like Generative AI. By having a unified, real-time data layer, AI models can be trained more effectively and safely deployed, all while maintaining data governance.
See data collaboration in action!
Connected data without the effort, time, and cost of traditional data integration.