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Walk us through your academic journey in analytics prior to joining
the MSBAPM program.
I have a BSc (Hons.) degree in Mathematics from Banasthali Vidyapith, Jaipur, India and a MSc. in Actuarial Economics and Statistics from Madras School of Economics, India. After my MSc. I joined Bridge i2i Analytics as a Consultant and subsequently University of Connecticut as a graduate student in the MSBAPM program in spring 2016. My undergraduate degree equipped me with the fundamentals of Mathematics and Statistics. During my MSc, I had learned about stochastic processes, the basics of Statistical Modeling, Regression Models, Business Analytics, etc. Both the BSc and MSc programs provided me with the fundamentals of Analytics and through my experience in the industry I have been able to expand my skill set building on those fundamentals.
Describe your experiences working for an analytics start-up?
I consider myself fortunate to have worked at an Analytics Start-up venture founded by Pioneers of Analytics in India. Bridgei2i Analytics ranks 13th on Deloitte Technology Fast 50 India at present and being the 35th employee, I had a very rewarding experience. Not only had I the opportunity to take complete ownership of deliverables during my initial days, during the final days of my tenure I had the coveted opportunity of leading a small team. Within days of joining the Company, I was allocated to a client project that dealt with identifying leads for an Insurance broker based on the propensity to purchase insurance products and their profitability to channelize resources optimally and achieve maximum return on investment. Fresh out of college I was excited to work on a real-life business problem which relied extensively on the knowledge of R programming. Despite being a novice and the scarcity of training workshops, I gained sufficient knowledge for the project thanks to the guidance from the seniors, and in a year, I was responsible for conducting training workshops in R and SAS for the fresh graduates. The opportunity to learn and implement something quickly and thoroughly is one of the major advantages of working for a startup. Everyone around is open to new ideas, and in the synergistic energetic environment, one has the scope of experimenting with a wide variety of analytic tools. I started out as an Analyst working for a Fortune 500 Insurer and within a year and a half, I found myself managing the engagement. This enabled me to hone
my leadership skills. I felt myself growing with the company. That’s definitely the other perk of working for a startup! Bridgei2i also provided the platform to voice my opinions through blog posts and duly acknowledged my contributions through several awards.
Through your project experience, give us some insights on marketing analytics in the insurance industry
Insurance industry primarily relies on Analytics for developing pricing strategies, underwriting, categorization of claims and Marketing. Insurance companies rely on marketing analytics for the development of strategies maximizing return on investments. Enhanced marketing strategies reducing customer acquisition cost is one of the primary goals of the insurance industry. In this context, predictive models are used to efficiently allocate resources for marketing campaigns, analyze and prioritize the leadsobtained, prevent cancellation of policies, and identify customer segments who are likely to buy high premium products. Lead Prioritization models can be supplemented with response models to score the present list of prospects on the basis of determining the likelihood of future responses. This is achieved through the analysis of information obtained from prior campaigns and clustering customer segments based on responses to past solicitations. Through marketing analytics, I have been able to identify superior leads, reduce the cost of lead acquisition by significant numbers, generate higher revenues, increase profits and predict accurate claim rates.
What are your career goals and how can MSBAPM program help achieve them?
I would seek a position in a Management Consulting firm. I plan to work across various domains to broaden my knowledge and skill set. I intend to work on analytics projects across multiple industries such as Financial Services & Insurance, Technology and Retail management among others. In the long run, I plan to advance towards a leadership role in a consulting firm as a Profit & Loss leader, responsible for leading accounts across multiple business functions such as Marketing, Sales, Supply Chain, Pricing, Risk Management and Customer Relationship Management