powerlytics comprehensive data platform for better business decisions

Big Data technology has become an integral part of the insurance sector and addresses its imminent challenges through analysis and filtration of sizeable portion of data that are related to the policy holders. However, organizations are rambling to find an effective way to deal with untapped and unstructured data from disparate sources such as real time news feeds, social media and other mobile channels. “The insurance industry is looking for innovative sources that help understand the risk level of the policy holders,” says Kevin Sheetz, CEO and Co-founder of Powerlytics. The Doylestown, PA-based firm, Powerlytics offers a unique set of data that allows the clients to make better and informed business decisions. The company’s solution enables insurance customers to generate higher profits and create a wider customer base. “We are leveraging the versatility of our Market Intelligence Platform to give the growing insurance industry unique new views of the American economy to make necessary decisions on risk and opportunity,” extols Sheetz.

The insurance industry is looking for innovative sources that help understand the risk level of the policy holders

The firm’s proprietary big data analytics platform can be used in influencing a company’s financial decisions by driving corporate strategy, discovering potential markets, evaluating competitors, mitigating risk, benchmarking performance, and enhancing growth in their business. Additionally, the solution aids consumers in target marketing. The products that Powerlytics offers have a complete set of accurate market data that are required to gain unparalleled insight on the overall financial strength of the industry. The data aids in the discovery of opportunities with complete market-sizing reports that highlight potential growth. Further, the products help analyze trends and develop predictive models as another way to assist customers with relevant data. “Also, identifying outliners with accurate and granular approach to peer analysis of businesses and consumers is another way in which the data lends a helping hand to our clients’ customers,” adds Sheetz.

Powerlytic’s Lending Workbench is another flagship product that improves the growth and profitability of the loan portfolio of the bankers by supporting their risk management and lending decisions. The product utilizes easy-to-use dashboards that gives users complete data visibility and accuracy and also customizes their go-to-market risk assessment. The firm’s range of solutions also include its Business Benchmarks that gives its users a clear picture on how a company stands against its peers for an optimum risk or reward ratio. The solution empowers data scientists, researchers, analysts, and others with the ability to build highly precise research reports, backed by the most complete and accurate financial data on businesses. This way, the Business Benchmarks addresses the hindrance of inaccurate and fragmented data that are endured by many analysts and also lead to research expenses.

Powerlytics’ Consumer Research provides exclusive access to the financial data of the government on 144 million U.S. households, through its proprietary database. The product enables the researchers to manipulate the financial data on deep granular parameters and provides an insight into the consumer’s market growth opportunities and corresponds to risk profiles.

Many insurance organizations have been immensely benefited by implementing Powerlytics’ solutions and offerings. In one instance, the company extended help to a renowned customer by designing unique software to improve customer retention and identify their policyholders to prevent them from buying policies from their competitors at renewal. As a result, the client was able to implement retention strategies and adjacently benefit its consumers.

Moving ahead, Powerlytics plans to create and improvise new and unique data models to help clients leverage on its solutions. “We believe that for insurance companies our solutions can ultimately result in outperforming their competition and gain greater profitability,” concludes Sheetz.