Decision Management Solutions

MARCH 25, 2019

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in. 2 – Attracting talent.

Insurance 75

Insurance Data Science Testing Modeling 75

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. based insurer has rebuilt its core application for claims processing, sales, and support, and plans to overhaul its entire portfolio of business processes, all with the aim to enhance and accelerate the customer experience.

Digital Transformation 134

Digital Transformation Insurance Recreation/Entertainment Machine Learning 134

DataKitchen

OCTOBER 20, 2023

In this article, we explore the role of Payload DJs in addressing these complexities, illustrated with examples from industries like drug discovery and insurance. Payload DJs facilitate capturing metadata, lineage, and test results at each phase, enhancing tracking efficiency and reducing the risk of data loss.

Insurance 169

Insurance Metadata Data-driven Data Quality 169

Decision Management Solutions

APRIL 23, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , Insurers can also manage risk more effectively through continuous improvement.

Insurance 69

Insurance Risk Technology Management 69

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 72

Insurance Unstructured Data Digital Transformation Cost-Benefit 72

DataRobot Blog

APRIL 29, 2022

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. When business decisions are made based on bad models, the consequences can be severe. As machine learning advances globally, we can only expect the focus on model risk to continue to increase.

Risk 111

Risk Modeling IT Risk Management 111

Corinium

JUNE 6, 2019

I am the Chief Practice Officer for Insurance, Healthcare, and Hi-Tech verticals at Fractal. The Insurance practice is currently engaged with several top 10 P&C insurers in the US, across the Insurance value chain through AI, Engineering, Design & Behavioural Sciences programs.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

CIO Business Intelligence

NOVEMBER 22, 2023

As a connected car data company focusing on the motor insurance sector, UK-based ThingCo is dedicated to developing next gen telematics built with the latest technology. But now these new models allow us to do a lot more. Then suddenly they’re testing out new features for us and coming up with ideas. We’re not experts.

Insurance 91

Insurance B2B Modeling Technology 91

CIO Business Intelligence

MAY 1, 2024

Gen AI takes us from single-use models of machine learning (ML) to AI tools that promise to be a platform with uses in many areas, but you still need to validate they’re appropriate for the problems you want solved, and that your users know how to use gen AI effectively.

Cost-Benefit 135

Cost-Benefit Metrics Insurance Measurement 135

DataRobot

SEPTEMBER 16, 2021

Accurate pricing is essential to protecting an insurance company’s bottom line. Pricing directly impacts the near-term profitability and long-term health of an insurer’s book of business. The later introduction of Generalized Linear Models (GLM) significantly expanded the pricing actuary’s toolbox. Claim Count.

Modeling 52

Modeling Insurance Cost-Benefit Machine Learning 52

O'Reilly on Data

SEPTEMBER 19, 2023

Stage 2: Machine learning models Hadoop could kind of do ML, thanks to third-party tools. While data scientists were no longer handling Hadoop-sized workloads, they were trying to build predictive models on a different kind of “large” dataset: so-called “unstructured data.” And it was good.

Machine Learning 243

Machine Learning Testing Modeling Cost-Benefit 243

Domino Data Lab

AUGUST 1, 2021

In this article we cover explainability for black-box models and show how to use different methods from the Skater framework to provide insights into the inner workings of a simple credit scoring neural network model. The interest in interpretation of machine learning has been rapidly accelerating in the last decade. See Ribeiro et al.

Modeling 139

Modeling Deep Learning Machine Learning Knowledge Discovery 139

AWS Big Data

MAY 28, 2024

Large language models (LLMs) such as Anthropic Claude and Amazon Titan have the potential to drive automation across various business processes by processing both structured and unstructured data. To get data from Amazon OpenSearch Service, we chunk, and convert the source data chunks to vectors using Amazon Titan Text Embeddings model.

Unstructured Data 88

Unstructured Data Structured Data Data Warehouse Testing 88

Decision Management Solutions

DECEMBER 17, 2021

In the recent McKinsey article discussing designing next-generation credit-decisioning models they outlined four best practices for automated credit-decisioning models for banks as they continue their digital transformations. Digital lending based on high-performance credit-decisioning models, says McKinsey, lead to: Increased revenue.

Modeling 52

Modeling Experimentation Visualization Risk 52

CIO Business Intelligence

OCTOBER 18, 2023

Dutch insurance and asset management company Nationale-Nederlanden, part of the NN Group, has a presence in 19 countries and serves several million retail and corporate customers. The context tests us and it’s necessary to reinvent ourselves every day.”

Digital Transformation 107

Digital Transformation Insurance Interactive Sales 107

CIO Business Intelligence

APRIL 24, 2024

But to find ways it can help grow a company’s bottom line, CIOs have to do more to understand a company’s business model and identify opportunities where gen AI can change the playing field. We’ve been doing proof-of-value and different test cases on efficiency opportunities within our organization as it relates to AI,” he says.

Sales 118

Sales Finance Experimentation Cost-Benefit 118

IBM Big Data Hub

FEBRUARY 13, 2024

This data is fed into generational models, and there are a few to choose from, each developed to excel at a specific task. Generative adversarial networks (GANs) or variational autoencoders (VAEs) are used for images, videos, 3D models and music. Autoregressive models or large language models (LLMs) are used for text and language.

Enterprise 120

Enterprise Modeling Testing Data-driven 120

datapine

OCTOBER 21, 2020

Now that we live longer, treatment models have changed and many of these changes are namely driven by data. By utilizing key performance indicators in healthcare and healthcare data analytics, prevention is better than cure, and managing to draw a comprehensive picture of a patient will let insurance provide a tailored package.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

Domino Data Lab

JANUARY 18, 2023

For the world of AI and model building, the famous motto, “Move fast and break things” by Facebook founder Mark Zuckerberg is a sure path to destruction. Stakes are now higher than ever for AI, and model-driven businesses must be careful to test and confirm the safety and fairness of technology touching nearly everyone’s life.

Insurance 52

Insurance Data-driven Data Science Testing 52

Cloudera

JULY 15, 2021

For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Attendees included senior risk managers and analytics experts from financial institutions and insurance companies. Pandemic “Pressure” Testing. Area such as: . Low Probability, High Impact Events Readiness.

Risk 99

Risk Optimization Management Insurance 99

IBM Big Data Hub

SEPTEMBER 28, 2023

An AI and data platform, such as watsonx, can help empower businesses to leverage foundation models and accelerate the pace of generative AI adoption across their organization. Business-targeted, IBM-developed foundation models built from sound data Business leaders charged with adopting generative AI need model flexibility and choice.

Testing 89

Testing Finance Enterprise Modeling 89

CIO Business Intelligence

MARCH 28, 2024

From using large language models (LLMs) for clinical decision support, patient journey trajectories, and efficient medical documentation, to enabling physicians to build best-in-class medical chatbots, healthcare is making major strides in getting generative AI into production and showing immediate value.

Unstructured Data 87

Unstructured Data Data-driven Risk Insurance 87

CIO Business Intelligence

DECEMBER 11, 2023

We promote innovation through regulatory sandboxes, real-world testing and open sources [excluding open source AI systems from transparency requirement]. Restrictions on GPAIS The growing popularity and adoption of GPAIS, such as ChatGPT, has pushed the authorities to accelerate the introduction of the governance model.

Risk 102

Risk Testing Insurance Cost-Benefit 102

O'Reilly on Data

MARCH 23, 2023

It’s important to understand that ChatGPT is not actually a language model. It’s a convenient user interface built around one specific language model, GPT-3.5, is one of a class of language models that are sometimes called “large language models” (LLMs)—though that term isn’t very helpful. with specialized training.

IT 258

IT Modeling Testing Risk 258

CIO Business Intelligence

JUNE 7, 2022

To ensure robust analysis, data analytics teams leverage a range of data management techniques, including data mining, data cleansing, data transformation, data modeling, and more. What are the four types of data analytics? In business, predictive analytics uses machine learning, business rules, and algorithms.

Data Analytics 123

Data Analytics Diagnostic Analytics Management Analytics 123

Smart Data Collective

MAY 10, 2022

If the AI model detects any, it can flag them for further investigation or automatically halt them. You can train a machine learning model for fraud detection by feeding it with many transactions and assigning them to “fraud” or “non-fraud” categories. Customer Support.

Marketing 109

Marketing Technology Insurance Machine Learning 109

Cloudera

DECEMBER 11, 2020

Insurance and finance are two industries that rely on measuring risk with historical data models. To facilitate risk modeling in this new normal, agility and flexibility is required. Insurance . Data Variety. This will only become more important as we move into 2021 and a post-pandemic new normal.

Insurance 94

Insurance Digital Transformation Unstructured Data Machine Learning 94

O'Reilly on Data

MAY 18, 2020

This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. All predictive models are wrong at times?—just

Risk 357

Risk Modeling Data Processing Software 357

CIO Business Intelligence

APRIL 5, 2024

Senate Bill 1047 , introduced in the California State Legislature in February, would require safety testing of AI products before they’re released, and would require AI developers to prevent others from creating derivative models of their products that are used to cause critical harms.

Risk 105

Risk Interactive Insurance Strategy 105

CIO Business Intelligence

AUGUST 1, 2023

The impact of generative AIs, including ChatGPT and other large language models (LLMs), will be a significant transformation driver heading into 2024. Mitigate risks by communicating an LLM governance model The generative AI landscape has more than 100 tools covering test, image, video, code, speech, and other categories.

Digital Transformation 96

Digital Transformation Unstructured Data Strategy Experimentation 96

Cloudera

JUNE 13, 2023

The bank offerings include standard deposit and lending services, credit cards, wealth management, agribusiness finance and insurance, and foreign exchange services for other financial institutions. The approach offered lower risks and allowed for comprehensive platform and application testing.

Data-driven 77

Data-driven Analytics Insurance Big Data 77

Domino Data Lab

MARCH 11, 2021

Machine learning (ML) frameworks are interfaces that allow data scientists and developers to build and deploy machine learning models faster and easier. Machine learning is used in almost every industry, notably finance , insurance , healthcare , and marketing. What hardware, software, and cloud services are used for scaling?

Machine Learning 143

Machine Learning Deep Learning Insurance Modeling 143

Smart Data Collective

MARCH 31, 2022

As for what steps can be taken to maximize productivity and improve workflow management at an accounting with AI, consider the following tried and tested suggestions: Identify all business processes (the work) and rank them in accordance with their necessity and value to the firm.

Machine Learning 107

Machine Learning Insurance Finance Cost-Benefit 107

CIO Business Intelligence

APRIL 15, 2022

MIT Technology Review has chronicled a number of failures, most of which stem from errors in the way the tools were trained or tested. For example, Driggs’ group found that their own model was flawed because it was trained on a data set that included scans of patients that were lying down while scanned and patients that were standing up.

Analytics 141

Analytics Machine Learning Insurance Testing 141

Smarten

JUNE 26, 2018

This article describes chi square test of association and hypothesis testing. What is the Chi Square Test of Association Method of Hypothesis Testing? Let’s conduct the Chi square test of independence using two variables: Gender and Product category. Use Case – 1. About Smarten.

Testing 40

Testing Statistics IT Business Intelligence 40

DataRobot Blog

JULY 21, 2022

Machine learning models created in silos are rarely implemented. The infrastructure team may want models deployed on a major cloud platform (such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure), in your on-premises data center, or both. Models could also be deployed into multiple environments at once.

Machine Learning 98

Machine Learning Metrics Modeling Testing 98

IBM Big Data Hub

MARCH 28, 2024

A private cloud is a single-tenant cloud computing model in which all of the hardware and software resources are dedicated exclusively to—and accessible only by—a single organization. High security: Certain industries, like insurance, are more prone to data breaches and cyberattacks. billion by 2033, up from USD 92.64

Enterprise 100

Enterprise Cost-Benefit Data Processing Software 100