Insurance companies have limited information to identify and prevent the signing of loss-making contracts in advance.
Currently used statistical methods & tools do not allow complex, on-demand monitoring of contract portfolio behaviour.
Contracts that lapse and default cause:
24%-28% of contracts (in €)
lapse during years 2 & 3
Life insurance companies lose money on every new contract during the first 3-4 years due to high acquisition costs.
rapid deployment (days)
reduced capital reserve requirements
uses entire portfolio with no need for statisticians, no guessing, provides easy-to-use visual insights process is fast, easy and cost-effective, limited learning curve
Proprietary technology based on the SAP HANA platform that provides executives with on-demand insights to identify specific salespeople, channels, territories and products that are likely to generate losses due to lapses & defaults.
SAP Startup Focus listed solution from LIMEWOOD [Financial Services / Insurance] among 5 new startup HANA solutions validated & go to market ready in September 2016. SAP Startup Focus is a global program dedicated to nurturing startups in the Big Data, Predictive and Real-time Analytics, Internet of Things, Augmented Reality space. It helps startups develop innovative applications which are based on SAP HANA and HANA Cloud Platform(HCP) embracing the latest cutting edge technologies. LIMEWOOD is the only Slovak SAP Startup Focus member.