Insuranceciooutlook

Top 10 Big Data Solution Providers 2015

Today, the buzz word around almost all of the industry sectors is Big Data. It is especially promising and differentiating for the insurance industry which, with no physical products to manufacture, arguably holds data as their most valuable asset. Digitization of the market has changed the way insurance is delivered, and companies are now building their services with exciting capabilities around big data and analytics, telematics and the Internet of Things, mobility and cloud.

Big Data has had a very deep and profound impact in the way insurance industries function. For instance, a commercial fleet insurer may use actual data derived from telematic devices implanted in vehicles to underwrite a policy and set rates, thus improving accuracy rates and increasing profitability. Due to the highly competitive nature of the insurance industry, companies who have successfully integrated big data and analytics have created a competitive edge by implementing low cost structures, greater efficiency, and proactive customer engagement.

The insurance industry has undoubtedly made progress in capturing the majority of the structured data from traditional relational data management platforms. Today, the need to impart latest technologies to tap into the voluminous unstructured data —which processes information through sources such as real-time news feed, social media, and other mobile channels.

It’s imperative that the CIOs and CEOs invest in the right technology that can enable and enhance their business capabilities further. With that in mind, Insurance CIO Outlook has charted out the top 10 companies offering the most comprehensive solutions around big data to insurance companies. Here are the 10 hottest big data solution providers for the insurance industry.

Company Logo Company Name Company Description
fico unleashing unforeseen possibilities for insurers A leading analytics software company, helping businesses in make better decisions that drive higher levels of growth, profitability and customer satisfaction
information builders innovative bi and integration solutions for insurance empowerment Provides Business Intelligence, Middleware Integration, Reporting, Analytics, Integration and Data Integrity Solutions
insurity providing the most comprehensive tools for pc insurance data management analytics Provides IT solutions for insurance companies to aggregate data and perform analytics, and equipping them with appropriate tooling capabilities
megaputer intelligence leveraging big data to bring transformational changes in insurance Offers data and text analysis software and services allowing users to derive actionable knowledge from large amounts of both structured and unstructured data
opta information intelligence comprehensive solutions for geocoded property intelligence Offers cutting-edge tools that drive profitable growth for insurance industry by creating business value from information
paymentus pci compliant nextgen payment platform A leading provider of a cost-effective and unified bill presentment and payment platform for the insurance industry, augmented with expanded data analytics, customer contact options and PCI/SSAE compliance
powerlytics comprehensive data platform for better business decisions Provides unique data platform to insurance companies to help them achieve business profitability and overcome market competition
pyramid analytics governing insurance data for driving critical decision making Empowers users by driving critical decision making and understanding cost savings opportunities with the complete insight on insurance information
quadrant information services ready data for insurance companies Provides enterprise-wide insurance solutions for property and casualty insurance
ssc technologies transforming insurance with cloudbased strategic solutions Offers cloud-based services and software for the global financial services industry