CIO Business Intelligence

FEBRUARY 6, 2023

The insurance industry is undergoing a sea change, with IT playing a crucial role in rolling out digital customer experiences for policyholders and agents, as in-person meetings all but vanish in the post-pandemic era. We are paying very close attention to trends from a customer perspective.

Insurance 132

Insurance IT Digital Transformation Machine Learning 132

CIO Business Intelligence

MARCH 4, 2024

In an era of business where every industry requires its stakeholders to be capable of quick pivots and sharp turns, siloed information that ultimately slows decision-making can be the ultimate vulnerability. In this way, data may just be the ultimate disruptor – a fact that the insurance industry knows all too well.

Insurance 98

Insurance Strategy Data Governance Data Integration 98

IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.

Insurance 83

Insurance Predictive Modeling Cost-Benefit Statistics 83

Smart Data Collective

JUNE 26, 2019

The insurance industry is based on the idea of managing risk. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. Advanced Analytical Processes in Insurance. Seeing Into the Future.

Insurance 93

Insurance Data Analytics Analytics IoT 93

Smart Data Collective

JUNE 29, 2021

One of the industries most affected by data technology has been the insurance sector. In order to appreciate the role of big data in insurance, it is necessary to look at its historical context. Insurance may sound like a boring business, but in reality, it is the most interesting part of the economy. Insurance and data.

Insurance 129

Insurance Modeling IT Big Data 129

CIO Business Intelligence

JANUARY 25, 2024

For industries across the board, a chatbot that is actually good at chatting will be a customer- and employee-experience game-changer. Insurance: adding a personal touch to customer service In 2022, the global insurance sector spent $467 million on chatbot technology. That is projected to reach $4.5

Insurance 106

Insurance Interactive Marketing Publishing 106

Dataiku

JANUARY 25, 2024

Central Bank tightening created a challenging environment in 2023 for many corners of the global financial services industry. Insurance companies had a relatively more stable year, but there were pockets of tension, including rapid repricing of flood and home insurance in some net migration areas.

Insurance 75

Insurance Management 75

Teradata

JANUARY 20, 2023

The dwindling personal auto insurance market is a harbinger of a lot more change to come. Find out more.

Insurance 98

Insurance Marketing 98

IBM Big Data Hub

MAY 8, 2023

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. As AI technologies continues to mature and use cases expand, insurers should not shy from the technology.

Insurance 74

Insurance Risk Testing Data Quality 74

CIO Business Intelligence

JULY 31, 2023

Natural disasters have been increasing in frequency, severity, and diversity in recent years, pressuring insurers to be more efficient and to anticipate event and claim fallout. Second, RDA addresses post-NatCat planning to help insurers’ prioritize property inspections. trillion. “If

Insurance 98

Insurance Strategy Modeling Data-driven 98

Smart Data Collective

DECEMBER 21, 2020

We previously talked about the benefits of data analytics in the insurance industry. billion from the insurance industry. However, major advances in AI have arguably affected the insurance industry even more. The insurance industry is evolving with new changes in AI.

Insurance 132

Insurance Cost-Benefit Big Data Unstructured Data 132

Smart Data Collective

NOVEMBER 10, 2021

Big data technology has been a huge gamechanger in the insurance sector. More insurance are using big data to assist with the underwriting process. However, insurance companies aren’t the only ones affected by big data. The Role of Using Data Analytics in Choosing Business Insurance. Always Read the Fine Print.

Insurance 118

Insurance Analytics Big Data Data mining 118

Octopai

APRIL 18, 2022

Regulatory standards for the insurance industry are almost as old as the insurance industry itself. Insurance in the ancient world tended to revolve around merchants shipping cargo. Insurance for your personal valuables, your pets or your fantasy football players was a thing of the future. . Let’s see how.

Insurance 52

Insurance Risk Cost-Benefit Reporting 52

CIO Business Intelligence

JUNE 22, 2023

Technology has quickly become a top priority for businesses across every industry. And as the demand for tech talent grows in industries beyond tech, salaries are on the rise in fields such as consulting, finance, hospitality, and more. So much so that IT roles are no longer just the purview of the IT department.

IT 122

IT Insurance Recreation/Entertainment Consulting 122

Teradata

AUGUST 26, 2022

Is insurance immune from the surge in data-driven applications in other industries? Of course not, but why has there been such a slow uptake in data resources?

Insurance 52

Insurance IT Data-driven 52

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 56

Insurance Digital Transformation Risk Management Risk 56

Smart Data Collective

JUNE 3, 2021

Many different industries are becoming more reliant on machine learning. The insurance industry is among those that has found new opportunities to take advantage of machine learning technology. The market for data analytics in the insurance sector is projected to be worth nearly $22.5 billion within the next six years.

Insurance 98

Insurance Machine Learning Cost-Benefit Risk 98

CIO Business Intelligence

JUNE 19, 2023

million people, with more than 400 sites of care, including six hospitals, and as the organization struggled with these issues, it quickly became apparent that insurance authorization for imaging and radiology services — a foundational diagnostic step before almost any care can begin — was a bottleneck.

Insurance 106

Insurance Technology Interactive Enterprise 106

bridgei2i

JUNE 23, 2021

6 Ways AI Is Taking The Insurance Industry Into The Future. The use of Artificial Intelligence is increasing exponentially across all major industries. Insurance is a resource-intensive field. Insurance is a resource-intensive field. AI solutions can enable insurers to price their policies more competitively.

Insurance 52

Insurance Risk Deep Learning Data-driven 52

bridgei2i

MAY 4, 2020

Episode 4: COVID-19 | Implications and Impact on Insurance Industry. COVID-19 | Implications and Impact on Insurance Industry. Anirban believes that insurers can make the best of the situation by adopting digital practices with AI-tools to stay resilient in the face of uncertainty. Listening time: 12 minutes.

Insurance 95

Insurance Enterprise Sales Digital Transformation 95

Smart Data Collective

SEPTEMBER 19, 2021

You might be surprised to hear that AI is becoming more important in the field of insurance than ever. Insurance companies have been using AI and big data for underwriting and other functions for years. AI Provides Better Accessibility for Insurance Customers. Artificial Intelligence Means it Takes Less Paperwork to Get Insured.

Insurance 103

Insurance Cost-Benefit Big Data Data-driven 103

Cloudera

OCTOBER 21, 2020

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

Insurance 71

Insurance Digital Transformation Unstructured Data Cost-Benefit 71

IBM Big Data Hub

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Insurance 61

Insurance Cost-Benefit Digital Transformation Marketing 61

Cloudera

FEBRUARY 18, 2021

We’ve written about the changes forced on the traditionally risk-averse insurance industry by COVID-19. In 2021, with the crisis hopefully fading, insurance will have time to evaluate the changes made in 2020, assessing what worked and what didn’t, and planning a new way forward rather than reacting in real time. .

Insurance 105

Insurance Digital Transformation Risk Data-driven 105

bridgei2i

SEPTEMBER 4, 2020

They have proved that AI is not limited to any industry. While the concentration has been on manufacturing, marketing, customer service, and logistics, AI is also being preferred by the insurance sector. More than three years ago, a well-known firm said that using AI tools would bring new life and energy into the insurance industry.

Insurance 52

Insurance Machine Learning IoT Manufacturing 52

Cloudera

OCTOBER 28, 2021

I’ve had the pleasure to participate in a few Commercial Lines insurance industry events recently and as a prior Commercial Lines insurer myself, I am thrilled with the progress the industry is making using data and analytics. Commercial Lines truly is an “uber industry” with respect to data. A Long, Long Time Ago.

Insurance 94

Insurance Risk Unstructured Data Data-driven 94

Dataiku

DECEMBER 6, 2022

When it comes to the use of AI in insurance, a Dataiku-sponsored survey of executives revealed that insurers still have room to grow — only 7% of insurance companies surveyed are considered leaders.

Insurance 52

Insurance Risk IT 52

Dataiku

FEBRUARY 16, 2021

Insurance is one of the many industries that has been tremendously shaken by the events of 2020. These unprecedented happenings are significantly reshaping the insurance market, pushing insurers to review their approach to numerous sectors and risks.

Insurance 98

Insurance Marketing Risk 98

Cloudera

NOVEMBER 16, 2020

The insurance industry has a long and intimate relationship with fraud in many different ways. Insurance fraud can take place at a process or business function level, most notably in claims or underwriting. The different venues to commit fraud against an insurer are mind-boggling, with serious financial consequences.

Insurance 96

Insurance ROI Marketing Machine Learning 96

bridgei2i

MARCH 9, 2021

What are the Benefits one can Avail by Employing AI in the Insurance Industry? How is AI in Insurance Industry Constructive? In this case of computing Artificial Intelligence in the fields of Insurance and industry, the privileges are as follows: 1. What is AI or Artificial Intelligence?

Insurance 52

Insurance Recreation/Entertainment Software Enterprise 52

IBM Big Data Hub

JUNE 26, 2018

In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz.

Insurance 80

Insurance Data Science Forecasting Marketing 80

Analytics Vidhya

JUNE 20, 2023

Industries spanning telecommunications, insurance, banking, utilities, and government agencies are poised to embrace AI-powered solutions in the coming years.

Software 326

Software Insurance Technology Analytics 326

Domino Data Lab

JULY 14, 2022

The financial services industries are starting to realize the full import of the fact that, like household chores like dishwashing and garden work, ML models are never really done. Rather, AI and ML models need to be monitored for validity, and often, they also need to be re-explained and re-documented for regulators.

Insurance 98

Insurance Modeling Management Risk Management 98

Domino Data Lab

DECEMBER 15, 2022

This week we announce a new slate of innovators in the Financial Services and Insurance edition of the Data Science Innovator’s Playbook, available now as a free download. The playbook includes seven profiles, the first being of Dr.

Insurance 52

Insurance Data Science IT Finance 52

Smart Data Collective

MARCH 27, 2020

The auto insurance industry has always relied on data analysis to inform their policies and determine individual rates. The good news is that this new data can help lower your insurance rate. Here is the type of data insurance companies use to measure a client’s potential risk and determine rates. Marital status.

Insurance 106

Insurance Measurement Risk Cost-Benefit 106

Smart Data Collective

MARCH 29, 2023

It can even be useful in the automotive industry. The automotive industry has been rapidly transformed by the advent of artificial intelligence (AI). From autonomous vehicles to predictive maintenance and optimized production processes, AI is revolutionizing every aspect of the automotive industry.

Manufacturing 94

Manufacturing Cost-Benefit Machine Learning Optimization 94

Teradata

NOVEMBER 30, 2020

Insurers must insulate consumers from internal & regulatory-driven controls by placing them in the center of the customer experience. Product-centric processes degrade customer experience.

Insurance 59

Insurance Risk Management 59