Pentation Analytics- Measure & Address Risk across Insurance Value Chain

Kamal Kishore Das Pentation Analytics

Pentation Analytics is an InsurTech and Big Data Analytics company with offices at Hartford, CT, US, Mumbai, India and the UAE. The Company was founded in Aug 2015, with a vision to – ‘measure and address risk using advanced analytics for the insurance value chain’.

The company was founded by seasoned professionals from the Insurance & Financial Services industry. Pentation Analytics was selected for the inaugural cohort of the Hartford InsurTech Hub accelerator. As an InsurTech, Pentation Analytics enables insurers and intermediaries maximize value of and for their customers via proprietary insurance-specific platform – Insurance Analytics Suite™.

Insurance Analytics Suite is a Self-service Analytics Product powered by Machine Learning, for Motor, Health, P&C, and Life insurance. Designed to shift the onus of analytics processes from Data Analysts to Business Owners, Insurance Analytics Suite targets Ease of Use as a priority by offering a sequential workflow via a three-layered structure – Insurance Data Model, Machine Learning and Application – to cover all from data management to risk insights, planning and monitoring execution, all at one place.

Insurance Analytics Suite has the ability to use data from multiple data sources, formats, volumes, varieties and types (Numeric, Text and Image), and is also equipped to handle ACORD AL3 Standard based databases.

Using structured policy transaction data and unstructured customer interaction data, the Automated Machine Learning Models generate policy-level scores that indicate the level of renewal and cross-sell propensity they possess. Ensemble scoring models enable insurers to get real-time insights about different policies.

The Applications layer utilizes these risk scores to enable targeted actions such as Retention, Cross-sell, Scenario Analysis, Contact Centre Optimization, Price Elasticity, and Profitability among more. Insurance Analytics Suite, hence, offers a unique combination of insights for decision-making and interventions for process efficiency, ensuring higher conversions – a first across the global InsurTech landscape!

Pentation Analytics also offers cutting edge analytics to Banking, Financial Services, Capital Markets, Payments and Electric Utility sectors. Established in 2015, decades of domain experience of the founders and their drive for innovation in analytics has given the company an opportunity to work with some of the best players in the BFSI space.

Pentation Analytics The Journey-

Since the founding team was from the Insurance industry, they understood the insurance space very well. There were many business cases initially identified to build upon. It took the team almost a year to narrow down on ideas that would get maximum bang for the buck.

The acquisition of clients started happening once the value proposition became sharp – the decision to focus on customer life time value generation via superior customer retention and cross sell programs using machine learning techniques.

Pentation Analytics started the company with 2 employees and won their first project. Today they are a team of 35. The company has been able to acquire clients across Insurance & Banking as well as deliver projects in data intensive industries owing to core focus on data science.

We have come a long way but we still have a lot of ground to cover. We have had some setbacks in our journey of growth and all of it has made us better prepared for the years to come.

Pentation Analytics has stayed the course on customer analytics. They have built a unique product for the Insurance industry. Consistent focus on adding value, using data as a main lever, has helped partner with clients and strike long term contracts.

Here is a graph that shows their growth over the years:

The Products and Services-

Pentation Analytics offers proprietary and award winning insurance industry-specific platform – Insurance Analytics Suite™. The product has business process management workflows powered by machine learning – for personal lines of insurance.

The platform’s easy-to-use design enables the shift of analytics processes from Data Analysts to the Business Owners.

This year the company has launched online editions of the platform in software-as-a-service mode. The Enterprise Edition of the Insurance Analytics Suite™ is equipped with business workflows that are powered by machine learning algorithms.

Our dedicate team and our easy to use data science products have helped us stay relevant over the years.

This year they have established their presence in the MENA region by incorporate Pentation Analytics Middle East. They had a launch event in Dubai in March 2020. The off take has been slow due to the pandemic related lockdown. But going forward the company anticipates a large segment of their business revenues being generated from that market. They have already done a few projects in the UAE. Geographical expansion and activation of go-to-market partnerships are the key strategies.

A New Venture-

Pentation Analytics is launching the online version of their proprietary platform – Insurance Analytics Suite™ this month. Through these editions, the objective is to reach out to multiple categories of users – from independent users to multinational organizations.

The online product editions are ideal for flexible data scenarios wherein data is being generated on laptops, mobile and desktops – while people work from home and have limited access to central systems inside an enterprise. Accordingly, the product has three editions – Single User, Multi User and Enterprise edition. The Single User Edition is being offered free of cost.

The Team-

Kamal Kishore Das is the COO of the company. Major part of his professional experience has been around the insurance value chain – from building new products/services, developing relationships oriented to digital businesses – with data being a core part of the journey.

He has worked with a leading and innovative P&C insurance carrier in India in multiple roles and worked with an insurance industry focused start-up before co-founding the current venture. Over 20 years of experience now. As an entrepreneur, his key achievements are a subset of what Pentation Analytics has experienced. They have won multiple awards & recognitions. However the core that keeps them going is sustained client engagements.

As any other startup surviving over a period of years, Pentation Analytics has relied heavily on the whole hearted involvement of the team members beyond defined job roles. As an entrepreneur, Kamal’s focus has been on creating opportunities for the team to deliver.

Over the past year, the company has rolled out employee engagement initiatives such as town halls with industry professionals and skill development programs. Particularly during the pandemic, they have communicated that the Company would sustain all job roles even if that means taking salary cuts.

“Given our nature of work, where you really need to have an eye for detail, the ability of every team member to focus on client problem areas and come together as a team to address the same, is what makes us unique.”

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