Managing risk is the ultimate objective for all insurance companies.
Yet the concept of big data and the variables that go into creating analytics can be daunting for any business and require dedicated tools to make that process work seamlessly.
RDT’s groundbreaking Horizon suite is the ultimate data solution that can be tailored to fulfill an individual business’s data needs, providing the essential components for data storage, management, analysis and real time reporting.
Horizon was designed to give your business a unique view of its internal and external working – and the world of business beyond. It’s been designed to tackle insurers’ concerns over complex architecture, the inflexibility of data, slow performance, lack of governance and to solve critical issues with legacy software that has become unfit for purpose.
Scalable to any size of business, and with win ratios delivered in real time, this suite of cloud-based products offers the most effective analytics solution for clients who want access to their data as and when they need it and exactly how they want it.
As technological advances change the digital landscape, businesses are learning to convert raw information into insights and intelligent services. RDT’s innovative products provide a full suite of capabilities, from real-time interactive analytics, high scale big data processing, insurance-specific data warehousing and direct access to all live data.
RDT utilizes industry-leading Microsoft Azure Cloud to provide these services, making use of Microsoft Azure Data Lake, Stream Analytics, high-scale event processing with Azure Event Hubs, Azure SQL Data Warehouse and Azure Machine Learning.
Gone are the days when disconnected information silos prevented companies from accessing and understanding reliable information. Users can now gather and store raw data feeds, track market performance, identify early warning signs on potentially unscrupulous activity and, in turn, provide cost savings to consumers at the click of a mouse.
What it does
Horizon allows large sets of data to be joined together to provide a 360-degree view of an individual customer. It provides powerful data visualization, while at the same time allowing users to pull out smaller data samples for specific trend analysis.
The technology is so advanced that it allows issues to be flagged and dealt with as and when they arise, giving the insurer a real competitive edge. Meanwhile the data warehouse – a core component of business intelligence – provides policy holder activity insights and gives underwriters immediate access to information they need to provide accurate reports on applications.
An embedded Power BI dashboard, which runs natively within applications, also provides a complete interactive view as well as offering bespoke metrics in one place, updated in real time, and available on all of your devices.
Horizon offers intelligent insight to deliver maximum impact, and makes extracting information faster and more effective than ever before. Used in conjunction with RDT’s other products such as Equator, it is possible to use it to enrich data about customers and risks and feed those into the data stores. This boosts the analytic capabilities of Horizon even more and increases the data available for AI tools to interrogate – meaning you can make even more sophisticated decisions. It also increases the ability to see patterns in data that were previously unavailable without the additional information that enrichment brings.
- Reduces the cost of managing and storing data
- Cuts fraud
- Offers competitive advantages
- Increases efficacy and profitability
- Improves loss accuracy
- Provides risk modelling capabilities
- Boosts user productivity
- Helps with long term analytics and pricing
- Gives early warning signs on key trends
- Offers data driven actuarial insights
- Tracks market moves
- Shortens claims cycle
- Boosts customer retention opportunities
- Increases margins
- Lowers litigation costs
- Higher revenues
- Accelerated growth
“Landscape’s core functionality is fantastic and has supported ARB with expansion of its product lines and overall business growth. RDT excels in understanding and anticipating insurer needs and developing innovative, value added modules for the platform”Julie Frazer, Head of Operations, ARB Underwriting