Switch to Livelytics AI
AI for Better Processes, Simplified Operations & Smart Decisions
The insurance sector wastes 30–40% of its expenses on labor-intensive manual tasks and ineffective procedures, which affects margins and combined ratios.
- The high volume of client and broker submissions
- Time wasted on administrative tasks by producers and underwriters
- Manual compliance checks for regulatory standards
- Hours spent searching for supporting data for pricing or claims
- Delays in receiving submissions and claims data for review
- Investing time in risks outside of risk appetite
- Limited time for establishing new pipelines or engaging with clients
- Fragmented technology leading to data silos
- Changing customer expectations
But, AI has ushered in a new era of insurance innovation and efficiency, fueled by a fast-changing risk landscape, extraordinary technical developments, and growing customer demand for more personalized solutions in the insurance sector.
What can Livelytics AI do for Insurance Businesses?
Integrating Livelytics into your insurance business can unlock a world of benefits, transforming how you operate and serve your customers.
Efficient Claims Processing
Claims Processing can be a real headache – time-consuming, resource-heavy, and prone to errors. But with Livelytics’ advanced AI algorithms and intelligent pattern recognition insurance businesses can:
- Review incoming claims to spot inconsistencies and detect potential fraud.
- Speeds up the claims resolution process
- Ensures that only legitimate claims make it through, reducing fraud & protecting your bottom line.
Underwriting
With Livelytic’s advanced analytics, the platform can go through and process lots of information—policyholder details, industry trends, and market data for quick, accurate risk assessments to minimize human error and create more profitable policy pricing.
- Speedy policy approvals
- Curate more precise risk assessments for better pricing
- Reducing mistakes in the underwriting process
Policy Pricing
Livelytics makes policy pricing quite easy. Its predictive analytics helps insurance businesses dive into historical data, monitor market trends, and really get to know their customers’ behaviors – to create competitive, fair pricing models that match the actual risk.
- Update the policy pricing in real-time
- Helps you keep the competitive, market aligned policy pricing
Customer Segmentation
Livelytics helps insurance businesses with automated customer segmentation based on your behaviors and risk profiles. It helps businesses craft personalized offerings and targeted marketing strategies for maximum customer satisfaction and loyalty.
- Personalized offerings & marketing for higher conversions & loyalty.
- Innovate and enhance your products and services with the right data.
Risk Management
Risks are part of all businesses and insurance businesses are no exception. But, everything becomes simpler with Livelytics. It helps insurance businesses to identify vulnerabilities and predict risks before they escalate to take timely action and reduce the chances of facing major financial losses.
- Get Real-time alerts & warnings when something goes wrong.
- Guided suggestions for better & informed risk management.
Regulatory Compliance
Navigating the maze of insurance regulations can feel like a daunting task! But Livelytics helps lighten that load by automating key compliance processes. Our AI data tool help insurance businesses maintain compliance with necessary standards without overburdening the team.
- Reducing the time and resources spent on compliance-related tasks
- Mitigate the risk of penalties, preserving your company’s reputation and credibility.
- Automat & simplify compliance processes for overall operational efficiency and effectiveness.
Livelytics AI is
Intelligent
Real-time data Insights for smarter decisions
Fast
Automate tasks and make decisions on-the-go
Flexible
Easily integrates with existing systems
Secure
Safeguards sensitive data, ensuring compliance and trust
Get the Most out of Livelytics AI for your Insurance Business!
Make the most out of your business data, transform your insurance business processes, and boost customer experience with Liveytics AI.
Customer Insights
Insurance is all about customer insights. And, with Livelytics – understanding your policyholders has never been simpler. Our platform gives you a clear view of all your customers. It helps you create personalized policy offers and focus your retention efforts on the right people, reducing churn and boosting satisfaction.
Real-Time Financial Metrics
Keeping an eye on your financials is crucial, and Livelytics makes it easy to stay on top of things in real time. This real-time tracking means you can adjust pricing, forecast trends, and make smart budgeting decisions without wasting time or risking errors.
Marketing Insights
Marketing in the insurance world can be tricky, but not anymore. With Livelytics, insurance businesses can fine-tune their efforts. Our platform analyzes all the customer insights to target specific policyholder segments, optimize marketing spend, and create campaigns to boost customer acquisition.
Customizable Reports with Visualizations
Livelytics simplifies the data collection, ingestion, and transformation process with customizable reports that turn complex information into easy-to-analyze charts, graphs, and more to help you make sense of the data and make informed decisions on-the-go.
Employee Performance Insights
Livelytics doesn’t just stop at customer and financial data—it also helps you monitor your team’s performance. This insight allows you to identify areas that need improvement, streamline operations, and ensure your team is providing the best service possible. The result? Faster claim resolutions and happier policyholders.
Copilot AI for Quick Access
In a fast-paced insurance environment, time is of the essence. That’s where Livelytics’ Copilot AI comes in. Acting like your personal assistant, Copilot AI quickly provides you with answers to queries about claims, customer profiles, financial metrics, marketing, and more.
Integrate with the Tools of your Choice!
Partners
Frequently Asked Questions (FAQs)
We offer two pricing plans tailored to meet the diverse needs of retail businesses.
- Our Standard Plan is priced at $299 per month, with an additional user fee of $10 per user per month. It includes essential marketing tools along with three AI-powered insights reports for inventory, customers, vendors, sales, and employees.
- Our Premium Plan is available at $599 per month, with the same additional user fee. This plan provides access to advanced marketing tools and six AI-powered insights reports for inventory, customers, vendors, sales, and employees.
You know the best part? You can try either plan for free with our one-month trial offer.
Absolutely. Livelytics AI is designed to scale with your business, whether you’re a small company or an enterprise. It can handle increasing data loads and adapt to expanding operations without sacrificing performance.
Livelytics AI is designed to be versatile and works across various sectors of the insurance industry, including health, auto, life, and property insurance. It can be customized to fit the specific needs of any insurance business.
By automating repetitive tasks and streamlining workflows, Livelytics AI reduces manual labor, lowers processing time, and minimizes errors. This results in significant cost savings for insurance companies, improving profitability.
Absolutely. We offer comprehensive support and training services to help users maximize the value of our platform. Our dedicated support team is available to address any queries or issues to leverage our platform effectively.
Livelytics implements robust data backup and disaster recovery procedures to ensure data availability and continuity in the event of unexpected incidents. Regular backups are performed, and data redundancy measures are in place to safeguard against data loss.