Accelerating Claims and Settlements: A Data Modernization Story in Auto Insurance
Industry:
Insurance Carrier
Region:
USA
Technology:
Microsoft
About the Company
A U.S.-based auto insurance provider wanted to modernize its data platform to address delays in claims settlement and enhance analytical capabilities. Evoke helped the company resolve these business challenges with a comprehensive Microsoft-powered solution. It significantly improved claim settlement timelines and accelerated decision-making, streamlining data flow, and teams’ collaboration.
The Business Challenge
- Delays in Claims Settlement: Slow turnaround times affected customer satisfaction and operational efficiency
- Inefficient Data Analysis: The company faced difficulty to conduct thorough analysis for claims, customer behavior, and policy pricing
Solutions
- Implemented Microsoft Fabric
- Enabled Real-Time Analysis
- Modernized Data Pipelines and Data Integration
- Established Data Governance
Benefits
- Faster Claim Settlements: Improved claim settlement ratios and reduced processing timelines, enhancing customer satisfaction and operational efficiency
- Real-Time Insights: Enabled real-time analytics for quicker, data-driven decision-making across the claim’s lifecycle
- Connected Ecosystem: Seamlessly shared analytics data across internal teams and external applications, eliminating data silos
- Cost Efficiency at Scale: Achieved high performance with cost-optimized workloads through a modern, cloud-native architecture
- Strategic Use of Data: Transformed data into a strategic asset, powering agility, transparency, and continuous improvement
