Ask any insurance company management about how they take a revision of the team performance and output in the weekly meeting or through day-to-day reports, you will know that most of their team members and field staff often do not have all the relevant data at their finger tap. As for claim settlement and processing also, comprehensive data management and data visualisation still remain a big challenge.
Lack of data visualisation make insurance companies lose revenue, destroy customer confidence, pulls down efficiency level and makes way for lack of collaboration.
Can these challenges be mitigated by any of the insurance IT solutions integrated into websites and mobile apps? Yes, data-driven dashboards with robust data visualisation and important KPIs can really help in boosting efficiency, business and customer trust.
Insurance companies working on data-driven dashboards must understand the positive outcome of these dashboards actually benefits the company and ultimately helps establishing a data-driven culture. Let’s look at some key benefits.
Data-driven dashboards become effective thanks to the various metrics that make the evaluation process easier. Let us explain some helpful metrics in brief below.
Now, we need to have a look at some of the real insurance data and their related key performance indicators (KPI) that will be a part of your visual dashboard. Let’s have a look at the examples of KPI metrics for insurance company dashboard.
Instead of running for a web app development company experienced in building analytics dashboard, you need to be fully aware of the common pitfalls, challenges, and issues that you need to mitigate. Well, here we explain the key principles for building a data-driven dashboard.
Before starting with the development figure out the objectives that the dashboard is going to serve. You need to have a clear idea about what the audience is going to find out through the dashboard. For every visual data display, you need to ensure it serves a specific purpose and answers a particular question in a very definitive manner.
A great pool of most relevant data is something works like the foundation for a superb data-driven dashboard complete with specific data visualisation. Consider some robust and reputed Business Intelligence (BI) tools that can help you incorporate various data points with clear emphasis on providing answers to the questions.
The semantic aspects actually help you go deeper into the data and draw data-driven insights and relevant understanding beyond the immediate facts and figures. While the tools will generate data visualisation in minutes, with the semantic understanding you can actually make it more self-evident and instantly understandable.
One of the biggest problems for many dashboards is the visual clutter that doesn’t allow easy perception and understanding without distractions. While using a lot of negative or white space is one way to clear the clutter, the dashboard also needs to organise the data points more effectively to grab attention easily.
For a visually appealing dashboard that appears consistent, clean and that grabs attention to data points without efforts, follow a particular logic and pattern throughout. While you can always find ready to use themes, always take a pause and analyse before progressing.
Now, for building the dashboard we need to take a deeper look at the corresponding stages and steps. When you Hire Dedicated Programmers India for this purpose, do remember the following steps.
First, you need to incorporate dashboard into your insurance company website with the following design and development principles.
Application programming interfaces (API) need to be built for accessing relevant data from various relevant systems, devices, and operating systems. A well-built API helps to access data from a variety of sources without any friction. Here are the API design principles for the dashboard.
The data-driven dashboards offer a great array of advantages for insurance companies. The importance of visually-optimized KPI dashboard for the insurance industry can be summarised with the following points.
Data-driven dashboards have already been introduced in the leading insurance company websites. With the tremendous boost they provide to boost transparency and efficiency, these dashboards are likely to become a mainstay in all apps and websites of insurance companies.
WRITTEN BY: Atman Rathod
Atman Rathod is the Founding Director at CMARIX Technolabs Pvt. Ltd., a leading web and mobile app development company with 17+ years of experience. Having…
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