Insurance and Financial institutions need to mitigate Risk by avoiding business with customers from high risk or negative zones. PrimeRegion can help institutions to identify and categorise customers based on its internal data assets especially based on the geographical location (called as negative zones) in real time while on boarding the customer from any service channel for all their products and services. Classifying customers basis an address with high historical defaults on loan or insurance premiums can be done using this product. This region based Risk profiling for Insurance companies can help in calculating the customer premium as few areas might have higher premium collection requirements. It can also help in building prospective customer base by avoiding customers from certain regions.
- Customer segmentation
- Negative Area Matching
- Risk Profiling
- Building prospective customer list
- Premium calculation