Why cognalysis
We're on a mission to make downstream analysis clearer
While insurance analytics have come a long way in the last ten years, they still are typically based on flawed, hidden assumptions driven by outdated approaches regarding claim development and the detailed data used. Whether by using our software tools or by engaging our expert services, we can show you the hidden minefields that remain in spite of or even because of the use of advanced data analytics.
Raw Insurance Data
Case reserves and policy premiums are biased across your portfolio of accounts and booked aggregate reserves are poorly allocated. Together, these data elements will never give a true picture of what has already happened, let alone what lies ahead. Yet these are the very data inputs that are commonly used when analyzing results and setting strategy.
The Cognalysis Solution
We build alternative data at the claim and policy level, designed to be actuarially unbiased, and based on all available objective information about the claims and policies. When performing analyses using these improved data elements, a dramatically clearer picture emerges, helping you see the road ahead – and act accordingly.
Services
How we can help
We have built unique, industry-leading software applications to clarify property-casualty insurance results like never before. We can license these tools to you for use by your actuaries to dramatically improve the strength of their analyses, or we can be engaged to perform analysis as the experts who have built the tools.
Solid underwriting and accurate pricing models are the backbone of insurance profitability. Using our proprietary software to find sources of dramatic lift in your pricing portfolio, we can assist your company in building or enhance its current pricing approach, without the mistakes caused by biased input data.
Because we build detailed models of claim development, we can assist you with identifying the range of potential results for individual claims based on the structured and unstructured data elements, differentiating the claims for triage, settlement, or other strategic purposes.
Sophisticated data analysis alone is insufficient to making actual decisions about the path forward to consistent superior results. We also understand the insurance business itself from decades of industry experience. We bring both of these key elements to bear to provide you with the information you need to make informed business decisions.
Triangles are no longer enough in themselves. Only by understanding the shifting dynamics both within the book of business as well as within the industry, can the true picture emerge. We find the issues that would otherwise be hidden, explain them in easily understandable ways, and present our estimates in a clearly supported and auditable fashion.