Building a comprehensive Power BI dashboard for the insurance sector requires careful planning and consideration of various factors. Below, I'll outline the key components, number of pages, KPIs, calculations, and visuals you should include in each page:
Page 1: Overview Dashboard
- Number of Pages: 1
- Purpose: Provide a high-level overview of key metrics and trends in the insurance business.
- KPIs and Visuals:Total Policies IssuedVisual: Card or KPI tileTotal Premiums CollectedVisual: Card or KPI tileClaims FiledVisual: Card or KPI tileLoss Ratio (Calculated as Total Claims Paid / Total Premiums Collected)Visual: Gauge chart or bullet graphPolicy Renewal RateVisual: Line chart or trend chartTop Policy Types (e.g., Auto, Home, Life)Visual: Bar chart or pie chart
Page 2: Policy Analysis Dashboard
- Number of Pages: 1
- Purpose: Analyze key metrics related to insurance policies and policyholders.
- KPIs and Visuals:Policy Distribution by TypeVisual: Donut chart or stacked bar chartPremium Distribution by Policy TypeVisual: Stacked bar chart or waterfall chartPolicyholder Demographics (e.g., Age, Gender, Location)Visual: Treemap or scatter plotAverage Policy ValueVisual: Card or KPI tilePolicy Renewal TrendsVisual: Line chart or area chart
Page 3: Claims Management Dashboard
- Number of Pages: 1
- Purpose: Monitor the status of insurance claims and track claim processing performance.
- KPIs and Visuals:Claims Overview (Filed, Pending, Processed, Denied)Visual: Stacked bar chart or donut chartAverage Claim Processing TimeVisual: Card or KPI tileClaims Settlement Ratio (Calculated as Processed Claims / Total Claims Filed)Visual: Gauge chart or bullet graphTop Reasons for Claim DenialsVisual: Bar chart or Pareto chartClaims Aging AnalysisVisual: Line chart or waterfall chart
Page 4: Underwriting Performance Dashboard
- Number of Pages: 1
- Purpose: Evaluate the profitability and risk exposure of underwritten policies.
- KPIs and Visuals:Underwriting Profit/LossVisual: Card or KPI tileLoss Ratio by Policy TypeVisual: Stacked bar chart or waterfall chartAverage Policyholder AgeVisual: Histogram or box plotPolicyholder Risk ProfilesVisual: Radar chart or bubble chartUnderwriting Efficiency (Calculated as Premiums Written / Underwriting Expenses)Visual: Gauge chart or bullet graph
Page 5: Customer Segmentation Dashboard
- Number of Pages: 1
- Purpose: Segment insurance customers based on demographics and behavior.
- KPIs and Visuals:Customer Segmentation Analysis (e.g., Age, Gender, Location)Visual: Treemap or scatter plot matrixCustomer Lifetime ValueVisual: Card or KPI tilePolicyholder Churn RateVisual: Line chart or area chartCross-Sell and Up-Sell OpportunitiesVisual: Sunburst chart or funnel chartCustomer Satisfaction ScoresVisual: Gauge chart or bullet graph
Page 6: Fraud Detection Dashboard
- Number of Pages: 1
- Purpose: Detect and prevent insurance fraud through data analysis.
- KPIs and Visuals:Fraudulent Claims DetectedVisual: Card or KPI tileFraud Detection RateVisual: Gauge chart or bullet graphTop Fraudulent ActivitiesVisual: Bar chart or radar chartAnomaly Detection AnalysisVisual: Scatter plot or heat mapFraudulent Claims TrendsVisual: Line chart or waterfall chart
Page 7: Regulatory Compliance Dashboard
- Number of Pages: 1
- Purpose: Ensure compliance with industry regulations and reporting standards.
- KPIs and Visuals:Compliance Status OverviewVisual: Card or KPI tileRegulatory Audit TrailVisual: Timeline or Gantt chartKey Regulatory Requirements (e.g., Solvency II, GDPR)Visual: Checklist or compliance scorecardCompliance Monitoring TrendsVisual: Line chart or area chartCompliance Gap AnalysisVisual: Waterfall chart or stacked bar chart
This breakdown outlines the main components of a comprehensive Power BI dashboard for the insurance sector, including the number of pages, KPIs, calculations, and visuals to include on each page. You can customize and expand upon these suggestions based on your specific business requirements and stakeholder needs.
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