Read TCS insurance’s view on the impact of GIS technology on the insurance industry which was recently featured in the Directions Magazine. Vinod Kachroo, CTO – Insurance and Healthcare Business highlighted in an interview, how TCS is helping its clients to better understand how location-based information can be modeled and analyzed to visualize spatial information and trends.
TCS' Innovation labs - Insurance has undertaken research to automate the underwriting process using GIS that will include new visualization techniques and building standardization around the entire process. Kachroo said that, in the past insurers could run analytics on underwriting for a limited number of claims but now the visualization tools allow underwriters to run ‘what if’ scenarios to evaluate certain risk factors in an iterative methodology. Since risk management underpins the underwriting process, analysts can now more accurately establish pricing policies. TCS is attempting to provide a clearer view of data to Property and Casualty (P&C) insurer’s which includes many facets of the business including accident and claim locations, as well as real estate claims in residential and commercial property.
Read the full article here.
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