Aureus Analytics eyes servicing 20 domestic insurance cos

Singapore-based Aureus Analytics, which provides customer intelligence and experience to financial sector players, is looking at servicing more than 20 insurance companies here by December.
"As of now, we serve nine insurance companies, including eight life insurers, here. We are planning to take this to over 20 by December," chief executive and co-founder of Aureus Analytics, Anurag Shah told PTI here.
The cluttered domestic life industry has 24 life insurance companies including the state-run giant LIC and 29 general insurers in the country.
Aureus already counts SBI Life, Tata AIA, Bharti Axa, Aegon Life, DHFL Pramerica, Axis Bank and Yes Bank amongst its customers in the country.

He also said Aureus Analytics is also looking at serving five American insurance companies by December.
"Along with India, we also have started our US office and we do hope to service at least five American insurance companies by the end of the calendar year," Shah said.

"Over the next five years we hope to see our company to be analytics company of choice for the insurance industry in the country," he added.
Last week, Aureus Analytics launched a comprehensive data analytics platform built specifically for insurers under the label of Crux.
"Analytics is the future of insurance business," former Irdai member Sudhin Roy Chowdhury said, adding, the maximum demand for analytics is being seen in fields like customer persistency, fraud, claims, customer loyalty and cross sales.

Aureus helps its clients leverage predictive analytics and machine learning technologies to deliver actionable insights at the point of decision.