Teradata, a division of NCR Corporation has engineered a new, insurance-specific component for its Teradata Financial Services Behaviour Analysis business intelligence application. The new software will become an integral part of the NCR customer relationship management (CRM) suite of applications for the insurance industry. NCR is represented exclusively here in South Africa by National Data Systems.
Teradata Behaviour Analysis provides insurance professionals the tools necessary to analyse and act on customer policy purchasing, claims filing behaviour and other customer interactions with the company. It reports on product performance, sales and service and channel distribution management. Insurance-specific indicators including premium, loss, expense and renewal ratio, and trend in claims and expenses are all part of the standard Behaviour Analysis performance criteria.
"As the banking, insurance and securities industries converge, we are exploiting and cross-pollinating our core solution competencies to deliver best in class applications to the property and casualty and individual life insurance sectors," said Simon O` Hagan, general manager Teradata Solutions Group at NDS. "In a fiercely competitive and dynamic financial services market, we believe Behaviour Analysis will be of particular interest to insurers anxious to manage their policies and claims and the issues arising out of them as effectively as possible."
Teradata Behaviour Analysis manages customer interactions and assesses the effectiveness and efficiency of distribution through two separate and interrelated modules:
Product View performs customer analysis for product segmentation, distribution, cross-selling and retention. For example, insurers may discover that many automobile policyholders have a homeowners or life policy with another company. This information can be essential to create a cross-sell marketing campaign to promote additional products
Transaction View performs channel configuration, capacity and utilisation analysis for distribution effectiveness and productivity. Each interaction with a policy-holder - new business, endorsements, cancellations, claims reported, paid and closed bill, account inquiries and requests for proof of insurance - is defined as an "event" to be used to profile the behaviour of both specific customers and larger customer segments.
Teradata Behaviour Analysis for Insurance combines the power of the Teradata Warehouse and the integrated Financial Services-Logical Data Model (FS-LDM) v4.0. Access to the Teradata Warehouse is provided through interactive analysis, standard reports and dimensions and the ad-hoc query capability of Cognos Powerplay and ImpromptuTM. Behaviour Analysis is now commercially available to the insurance industry and is backed by NCR`s commitment to the financial services industry, Professional and Worldwide Support Services.
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Teradata, a division of NCR Corporation, offers powerful analytical solutions that help businesses drive growth. Teradata solutions include the Teradata database, and analytical applications for customer relationship management, operations and financial management, business performance management and e-business. To learn more about Teradata Division and its solutions, go to http://www.ncr.com/teradata. Teradata is a registered trademark of NCR. Cognos and Cognos Powerplay and Impromptu are either trademarks or registered trademarks of Cognos in the U.S. and certain other countries.
NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in providing Relationship TechnologyTM solutions to customers worldwide in the retail, financial, communications, manufacturing, travel and transportation, and insurance markets NCR`s Relationship Technology solutions include privacy-enabled Teradata warehouses and customer relationship management (CRM) applications, store automation and automated teller machines (ATMs). The company`s business solutions are built on the foundation of its long-established industry knowledge and consulting expertise, value-adding software, global customer support services, a complete line of consumable and media products, and leading edge hardware technology. NCR employs 32,900 in more than 100 countries, and is a component stock of the Standard & Poor`s 500 Index. More information about NCR and its solutions may be found at www.ncr.com.
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