Minsait enhances analytical capabilities in the insurance sector thanks to Microsoft cloud

Gaining value from data through analytics is a key factor for insurers to gain greater insight into their customers and streamline their operating costs. The challenge is to convert this knowledge into recommendations and specific actions aimed at personalizing the relationship with each customer, always placing the focus on achieving their strategic and business goals.

Minsait, an Indra company, has increased the analytical capabilities of the sector's leading companies in Spain by deploying platforms with Big Data and Artificial Intelligence capabilities based on Microsoft Azure. Its purpose is to facilitate the hyper-segmentation of customers and real-time information processing in order to design more personalized insurance to suit each profile.

The combination of Minsait’s technological capabilities and expertise with Microsoft’s cloud innovations forms the basis for the partnership which both companies are committed to. Such a partnership is enabling the joint development of different areas of the industry and, in the specific case of insurance companies, it is resulting in major benefits for them, such as a 40% reduction in the time it takes to put new use cases into production and an 80% reduction in obtaining value or returns. They have also been able to achieve an average savings of 24% on operating and maintenance costs.

In addition, the projects deployed have achieved significant milestones that have a direct impact on the organizations’ profits, which, according to Minsait, could mean an average business growth of close to 20%.

“A major advantage of the Microsoft Azure platforms is that they fit the business model, with continuous value delivery according to needs, allowing adaptation to requirements that might arise in order to provide an immediate response to customers’ needs, even if they were not initially foreseen”, explains Ignacio Jiménez, the Director of Intelligence and Data Practice at Minsait.

Minsait has a multidisciplinary team specialized in the three types of cloud environment implementation (public, private and hybrid) and is positioning the platform as a tool capable of providing end-to-end solutions to achieve greater efficiency, transform and improve its customers’ ecosystems, enabling innovation capabilities and the growth in solutions in line with the market’s needs.

Artificial Intelligence and Data Governance

The deployment of these types of platforms includes the construction of centralized data repositories (of both an internal and external nature), which provide large amounts of high quality and valuable information, together with the incorporation of Artificial Intelligence and knowledge graph models to reveal links between them. For example, this is the case when a relationship can be established between certain products and patterns of fraud.

The development is completed with the integration of scaled and multi-affinity segmentation tools, which provide more personalized experiences for better cross-selling or loyalty campaigns.

Microsoft’s cloud platforms also facilitate the development of other types of business models linked to Machine-Learning ecosystems for predictability purposes, which extract knowledge from customers and from the market while preserving the principles of privacy set out in the General Data Protection Regulation (GDPR). This is the case of data profiling based on information extracted from contracted insurance policies, interest shown on the web and cross-selling with third parties.

Another important contribution is the lack of both temporary and definitive limits on increasing data storage capacity on Azure, thus ensuring cost efficiency, security and agility; in short, an appropriate governance of the needs posed.

In parallel with this, Minsait has collaborated with insurers in the design of robust data governance models, with well-defined owners, roles and responsibilities, and actions that encourage cultural change, especially in the management of data-driven organizations.
“It is our goal to accompany insurance companies in the rapid integration of Microsoft Azure technology to deploy platforms that facilitate the democratization of data in their organizations, transferring analytical capabilities into different areas of the business in a way that is simple and uses all their potential”, highlights Ignacio Jiménez.

Carolina Castillo, Director of Microsoft Partners in Spain, affirms that “the strategic partnership we have developed with Minsait in multiple areas, where insurance plays a prominent role, reinforces our commitment to vertical sectors.”

Minsait is a leader in the development of services and solutions to help insurance companies cope with new customer needs, the entry of new players and regulatory changes. Its focus ranges from strategy and business consulting to highly specialized consulting technology for transformation programs and groundbreaking projects.
Currently, more than 50 million policies are managed by platforms developed and managed by the company, which has more than 1,800 specialist professionals in the insurance market.

About Minsait

Minsait, an Indra company (www.minsait.com), is a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America. Minsait possesses a high degree of specialization and knowledge of the sector, which it backs up with its high capability to integrate the core world with the digital world, its leadership in innovation and digital transformation, and its flexibility. Thus, it focuses its product range on high-impact value propositions based on end-to-end solutions, with a remarkable degree of segmentation, which enables it to achieve tangible impacts for its customers in each industry with a transformational focus. Its capabilities and leadership are demonstrated in its product range, under the brand Onesait, and its across-the-board range of services.

About Indra

Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for the key operations of its customers’ businesses around the world. It is a world-leader in providing proprietary solutions in specific segments in Transport and Defense markets, and a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America through its affiliate Minsait. Its business model is based on a comprehensive range of proprietary products, with a high-value focus and with a high innovation component. In the 2020 financial year, Indra achieved revenue of €3.043 billion, with around 48,000 employees, a local presence in 46 countries and business operations in over 140 countries.