Effectively analyzing and mitigating risks

The insurance industry is focused on risk management. The better you are at assessing and mitigating risks, the more successful you will be. CGI delivers the information and tools insurers need to effectively assess risks and increase profitability. We offer predictive analytics solutions for both auto and property insurers, including the solutions highlighted below.

MVR Predictor

Sixty-five percent of the motor vehicle reports (MVRs) ordered by insurance companies and brokers confirm what their policyholders told them. But how can you initially tell which policyholders are telling the truth? With MVR prices continually on the rise across Canada, MVR Predictor can help you to dramatically cut costs through predictive analytic capabilities that help you to assess when an MVR report should be ordered. Contact autoplus@cgi.com for more information on this solution and the opportunity for a free proof of concept.

HITSPlus

Putting our decades of insurance experience into action, we developed an innovative risk-scoring tool for habitational insurance underwriting called HITSPlus (Property Loss Underwriting Score). With HITSPlus, you can predict the probability of a future claim occurring and its severity within the first two years of a policy’s inception or renewal.

The HITSPlus score is generated using current claims history and certain elements of behavioural patterns found in credit data. HITSPlus combines these predictive components into a single, user-friendly predictive model that gives insurers the power to predict the probability of a claim and the average value of the claim.

The HITSPlus score is provided as part of CGI’s HITS (Habitational Insurance Tracking System) report, a comprehensive summary of valuable property claims information. Together, HITS, HITSPlus and our other HITS tools provide insurers with all they need to enhance the efficiency, consistency and profitability of their habitational underwriting processes.