​Cockpit BI

​With increased competition, product commoditization and price pressure, insurance companies are seeking to create differentiated value propositions in their products, while reducing losses and improving efficiencies. Business people in functions such as sales, marketing, finance, underwriting, and claims all drive the bottom line. Profitability depends on ensuring everyone in the insurance company makes optimal decisions.
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With Lera’s Cockpit BI, insurers can:

• Empower underwriting with visibility into policies, premiums, and loss ratios
• Analyze customers to uncover new opportunities, identify cross sell potential and improve retention
• Optimize claims processing and enhance claims service levels

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​Cockpit Data Analytics

Analytics is emerging as a game changer for the P&C insurance industry facing significant profitability and growth challenges. While basic reporting and descriptive analytics continue to be a must have for insurers, advanced predictive and prescriptive analytics are enabling insurers to build a sustainable competitive advantage.
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Cockpit Data Analytics helps Insurers in:

• Accurate risk pricing, overall reserve estimates, and identify of key drivers behind changes in loss ratios.
• Reduce the total TAT for down decision making time, reduce errors in claims decisions
• Ways to increase customer satisfaction, boost margins and lower litigation costs. 

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​Data Services

In today’s volatile market conditions where customers’ needs rapid changes and benefits while your competitors continually look for ways to take customers away from you, standard insurance products and services are heavily commoditized. In this environment, it is crucial to have a customer-centric view of your business to appeal, retain, and grow profitable and sustainable relationships with customers, agents, and partners.

With Lera’s Data Management Services, you can:

• Execute effective data governance processes from data quality, to business definitions, to data lineage audit requirements, as well as data retention policies for IRA needs
• Improve the quality and completeness of legal entity and securities master and reference data for ongoing risk management, capital adequacy planning, and regulatory reporting
• Integrate required data into data warehouses, analytic applications, and reporting systems from internal and external systems across the enterprise