Gartner names SAS as the leader in software market size

Gartner Inc has released a report entitled “Market Trends: No Escaping BI and Analytics in Insurance in 2011”, which gave SAS the top rank in software market size. In the report, the business analytics software and services leader was shown to have a quarter of the 2010 market share, with a $138.7 million revenue. The Gartner report said that insurance companies are focused on risk management, compliance with regulations, acquisition and retention of customers, and the achievement of excellence within their operation. These goals, according to Gartner, are pushing technology…

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Industry leader fights fraudulent claims with new technology based tools

Industry leader fights fraudulent claims with new technology based tools

Claims typically account for up to 80% of an insurance company’s costs, making the way the claims process is managed vital to a company’s profitability. This is particularly true in times of economic uncertainty, with growing pressures to settle claims faster with transparent fairness – but with fewer resources. Unfortunately, the claims process is typically time-consuming and labor-intensive, involving multiple systems, outdated technology and distributed operational units. The resulting inconsistent processes and inefficient data management sap resources and slow turnaround times, which leads to negative customer experiences. Predictive insurance claims…

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