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Aureus Analytics has been shortlisted by Plug and Play Tech Center in its prestigious accelerator
cohort for this summer. This is a big boost for Insuretech considering the large cost of fraud - nearly
USD 80 Bn a year- and poor customer retention rates. Aureus leverages analytics to help insurers
predict and contain fraud, improve cross sell and claims, improve loyalty thereby improving the
overall customer experience.
San Francisco, CA, April 14, 2017 --(PR.com)-- Plug and Playin Insurtech
Aureus Analytics recently made the cut to join one of Silicon Valley's most prestigious programs - Plug
and Play Tech Center. In what is going to be one of Plug and Play's largest cohort to date, Aureus is one
of the 175 other startups across 9 verticals shortlisted for an intense 12-week business development
program. Aureus will be one of the 31 other startups, and the only Indian one, that will be part of the
Insurtech batch.
The shortlisted startups will be working out of the Plug and Play Headquarters in the Valley, and will
have an opportunity to interface with their exhaustive ecosystem of 180 corporate partners, 200 VCs, and
583 alumni. Plug and Play's partners include most of the leading corporations across multiple industry
lines.
The 31 startups selected in Insurtech cohort come from diverse background such as Life, Health,
Property, Casualty, General etc.
This is not only a remarkable opportunity for Aureus to leapfrog into the global league of leading
Insurtech companies, but also a great validation of the need for such products in the global insurance
industry. Insurance carriers across the world are challenged with improving their customer engagement
and experience. Our selection in this cohort validates our approach of building problem specific analytics
products for insurers that specifically address these challenges. These 12 weeks will also help us in
engaging in global Insurance thought leaders, which will significantly influence in shaping the future
roadmap of our product development. With Plug and Play, things move really fast. We already have a
slew of customer meetings lined up, and we have our work cut out for us, said a jubilant Anurag Shah,
CEO and Co-Founder of Aureus Analytics.
The insurance industry has traditionally been very conservative in adopting newer technologies.
However, with the increase in instances of fraud and challenges of customer retention, they are increasing
looking at predictive analytics and machine learning to know their customers better. According to
InsuraneFraud.org, fraud steals about $80 BN a year across all lines of insurance. On the other hand,
insurers lose about 18-20% of their customers to churn. These double barrelled challenges are making
insurers leverage new technologies as soon as possible.
Aureus Analytics provides context to the insurance companies about their relations with their costumers,
and allows for more data driven ways of improving UX. We are honored to have them apart of our second
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insurtech batch, says Ali Safavi, Director of Plug and Play Insurtech.
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Contact Information:
Aureus Analytics
Ketan Pandit
+919881127137
Contact via Email
www.aureusanalytics.com
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