Aureus Analytics

Insurance is a complicated business. Retention is difficult to achieve—globally, insurers lose 18 to 20 percent of their customers annually. Cross-selling and upselling are also difficult, with most insurers using a one-size-fits-all approach. Processing claims involves a multi-step process that has a critical impact on the business, and fraud costs the industry tens of billions of dollars each year. Aureus Analytics is solving these critical industry challenges. The Hartford-based customer intelligence and experience company uses predictive analytics and machine learning to deliver insights at key decision points that help insurance carriers, brokers and MGAs improve their customers’ experience, which increases retention and customer lifetime value. Aureus can also help identify insurance fraud in real time or near–real time to reduce fraud losses.