Ingosstrakh introduced an analytical platform for online risk assessment

On July 18, 2017, SAS announced the completion of the project to implement the SAS Text Analytics analytical platform at Ingosstrakh.

Project tasks

The customer company was required to minimize the acceptance of high-risk customers for insurance and maintain its portfolio share in the market, reducing the likelihood of false alarm in the process of pre-insurance risk assessment.

At the beginning of the project, it was decided to use external data, in particular open data from the Internet.

SAS has been selected as the provider of the analytical platform. A pilot project was conducted.

Project course

During the project, a system was created for online rapid risk assessment for customers wishing to conclude an auto insurance contract, a team of analysts was prepared inside the company for further support and development of the analytical platform.

Project result

Embedded text analytics tools help you capture unstructured public data from the Internet and build a broader customer profile. The analytical models configured in the company are integrated with the previously implemented real-time decision-making system.

We appreciate the results of the work. All tasks that have been assigned to the project team have been completed. It is worth noting that after the integration of the SAS analytical platform into the Ingosstrakh IT landscape, several pre-projects on SAS were launched internally, which also show encouraging results at the moment. Now we plan to develop the direction of in-depth analytics (data mining) on the basis of the SAS analytical platform. Alexander Goglenkov, Head of Strategic Projects Department of Ingosstrakh

We expect that as a result of the introduction of SAS analytics, the company will significantly increase the margin and quality of its portfolio. We are glad that Ingosstrakh appreciated the capabilities of our technologies and the expertise of the team. Evgeny Chernoburov, expert on working with the financial sector SAS Russia/CIS, project curator at Ingosstrakh by SAS