IBM ROI Case Study: Santam Insurance
Nucleus Research examined the use of IBM SPSS at Santam Insurance to measure the benefits of predictive analytics. Analysts found benefits including the detection of a fraud ring in the first 30 days of use, ability to accelerate 50 percent of processing claims, and savings equivalent to the cost of 30 external assessors.
Payback: 3.7 months
Average annual benefit: R34,407,024 (US$ 3,815,085)