Cloverleaf | ROI of Insurance Data Calculator

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ROI of Insurance Data Calculator

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Company Background Questions:

Annual Revenue

Number of Employees

Annual IT Budget

Infrastructure Start-up and Maintenance Costs:

What were your costs to set up your current infrastructure that houses and manages insurance data?

How much are you spending annually on maintaining on-premises data technologies?

How much are you spending annually on licensing data technologies?

How many years has it been since the last time you purchased a new technology to help manage insurance data?

Do you spend additional money outside of hardware and software to help integrate multiple systems? If so, how much annually?

Do you pay consultancy fees to external data experts to help manage your insurance data program if so, how much?

Employee Resources Costs:

What are the salaries and benefits for the data and IT teams involved in maintaining the technology that manages your insurance data stack?

How much do you spend annually on training these employees with new skills to better manage your insurance data?

Data Management and Security Costs:

How much do you spend annually on expenses related to data governance, including compliance and regulatory requirements?

How much do you spend annually on data security measures to protect against breaches?

If you have had an insurance data breach, what was the monetary impact of the breach(es)?

Benefits of Your Insurance Data Program:

Quantify the increase in revenue in the last 12 months that can be attributed to your insurance data insights.

Quantify the increase in profitability in the last 12 months that can be attributed to your insurance data insights.

Quantify the increase in customer retention in the last 12 months that can be attributed to your insurance data insights.

Quantify the reduction of claims fraud in the last 12 months due to better data analytics.

Quantify savings in the 12 months due to operational efficiency stemming from insurance data insights.

If applicable, quantify the savings from reduced regulatory fines and penalties due to better compliance.

Quantify savings related to better claims and underwriting comparing 2023 to 2024 at this time of year.

Total Costs

Total Benefits

ROI Score

Return on Investment

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Our Insurance Intelligence Platform Helps Insurers Ensure They Receive the Most Value from their Insurance Data.
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