Cloudera

JANUARY 27, 2022

Insurers are increasingly adopting data from smart devices and related technologies to support and service their customers better. I have been researching more about how we can use the new data from those devices to design more innovative insurance products while being aware that these should all be contingent upon customer opt-in.

Insurance 82

Insurance IoT Risk Data Processing 82

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

CIO Business Intelligence

DECEMBER 1, 2022

For over 130 years, Hastings Mutual Insurance Company has served and protected its clients throughout the Midwest. In its push to modernize, the regional insurance provider also believed updating its client viewing system to provide a more intuitive, user-friendly experience would benefit its customers and employees alike.

Insurance 107

Insurance Management Cost-Benefit Digital Transformation 107

bridgei2i

JANUARY 18, 2021

Case study: Sales Growth with Ai-Driven Product Recommendation Framework for a P&C Insurer. The client, a leading North American P&C commercial insurer, wanted to develop and implement an AI-driven product recommendation solution for cross-selling to existing customers. Business Context. Download the case study!

Insurance 52

Insurance Sales Machine Learning Strategy 52

Smart Data Collective

JUNE 3, 2021

The insurance industry is among those that has found new opportunities to take advantage of machine learning technology. Life insurance companies in particular are discovering the wondrous opportunities that AI provides, since this sector faces some unique challenges relative to other insurance offerings.

Insurance 98

Insurance Machine Learning Cost-Benefit Risk 98

CIO Business Intelligence

MARCH 13, 2024

So it’s no surprise that companies continue to heavily invest in it since the release of Dall-E 2 and ChatGPT in late 2022, where they expect to see the greatest value in increased productivity, with some estimates showing improvements of 5% or more over the next 12 months, and headcounts to reduce by at least 5% as well.

IT 124

IT Consulting Testing Cost-Benefit 124

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

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. Occupation.

Insurance 107

Insurance Measurement Risk Cost-Benefit 107

CIO Business Intelligence

DECEMBER 14, 2022

CIO Ted Ross believes the honeymoon is over for breakneck productivity when it comes to hybrid work, and he’s not the only one. In response, Ross started training supervisors on how to create those relationships with digital “checkpoints” to keep productivity humming. Now I’m seeing productivity drop.”

IT 145

IT Insurance Management Statistics 145

Decision Management Solutions

SEPTEMBER 5, 2019

McKinsey recently reported that “Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade” and that “The insurance industry is facing a serious structural challenge … the majority of carriers are not making their cost of capital.”

Insurance 40

Insurance Machine Learning Marketing Management 40

FineReport

AUGUST 13, 2021

Insurance companies provide risk management in the form of insurance contracts. Industry-specific, comprehensive, and reliable data management and presentation have become an issue of increasing concern in the insurance industry. The insurance dashboard is one of the most commonly used data display methods.

Insurance 52

Insurance Dashboards KPI Analytics 52

Dataiku

DECEMBER 8, 2020

“Much of the innovation in the insurance industry in recent years has been about creating new products that are delivered in old ways. Digital is the missing link.

Insurance 71

Insurance Consulting 71

Dataiku

MAY 12, 2022

Estimating risk is the essential ingredient to determine the price of an insurance policy. The estimated risk of an insurance policy is the minimum price an insurer should quote to be breakeven, therefore evaluating this risk with precision and confidence is the foundation of a robust quoting system.

Insurance 59

Insurance Breakeven Modeling Statistics 59

CIO Business Intelligence

APRIL 12, 2022

For today’s consumers, shopping and interacting with businesses online has mostly become easier and more convenient than ever — but not when it comes to dealing with insurance companies. In stark contrast to experiences with large consumer-goods websites, people often struggle to find the information and forms they need on insurance sites.

Insurance 52

Insurance Testing Interactive Analytics Technologies 52

bridgei2i

APRIL 16, 2020

Insurance firm Swiss Re faced a $250m (approximately £215m) loss if the event was canceled instead of being delayed. This is just a tip of the iceberg of the massive losses the Insurance sector is staring at due to COVID-19’s onset. The insurance industry —which, in the US alone, accounts for $1.2

Insurance 71

Insurance Sales Digital Transformation Machine Learning 71

bridgei2i

MAY 4, 2020

Episode 4: COVID-19 | Implications and Impact on Insurance Industry. COVID-19 | Implications and Impact on Insurance Industry. In this episode, Anirban Chaudhury talks about how insurers the world over are grappling with new and unprecedented challenges to balance high financial losses, increasing new premiums, and rising claims.

Insurance 95

Insurance Enterprise Sales Digital Transformation 95

CIO Business Intelligence

JUNE 9, 2022

To prepare, they increasingly turn to Digital Product Management (DPM). The move from projects to products is under way. The move from projects to products is a logical starting point. In the survey, 74% of respondents said their organization is making the shift from project management to product management.

Management 96

Management Digital Transformation Insurance Software 96

bridgei2i

DECEMBER 16, 2021

Case study: Reimagining Catastrophe Underwriting with AI for a Fortune 500 Commercial Insurance leader. The client is a Fortune 500 commercial insurer dealing in traditional and specialty insurance products, industry-leading claims, and risk engineering services. Business Context. Listen to our podcast AI to Impact!

Insurance 52

Insurance Deep Learning Risk Enterprise 52

bridgei2i

JANUARY 18, 2021

Case study: Subrogation Prediction Using Machine Learning for Property Insurance. The client, a leading P&C insurer, wanted to identify property damage claims that have the potential for subrogation & recovery. Business Context. They also wanted to generate automated referral reports on a weekly basis for further investigation.

Insurance 52

Insurance Machine Learning Enterprise Strategy 52

Decision Management Solutions

JUNE 19, 2019

There is a common high-level customer journey for insurance customers. Here at Decision Management Solutions we’ve helped insurance carriers in the US and Asia develop innovative approaches to developing and delivering NBO/NBA initiatives. By: Zoe Zhou. The customer researches providers and policy options.

Insurance 75

Insurance Consulting Predictive Analytics Interactive 75

Decision Management Solutions

MAY 1, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , in which he states that there are only three levers of value in insurance: 1. Sell More , 2. Cost Less to Operate.

Insurance 75

Insurance Technology Predictive Analytics Risk 75

CIO Business Intelligence

APRIL 12, 2022

When the COVID-19 pandemic hit, it shook every industry to the core, but especially and dramatically affected health insurers. Deluged with calls and questions about rapidly changing health guidelines and coverage, insurers had to quickly revamp their systems to provide updated information.

Insurance 52

Insurance Technology Management Cost-Benefit 52

bridgei2i

NOVEMBER 25, 2020

Automated Sales & Underwriting Strategies can Transform Insurance. One of the major repercussions of the COVID-19 pandemic in financial sectors has been the increase in awareness about insurable risks across categories and markets. Images 1: Challenges before insurance industry in the post-Corona world.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

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

Juice Analytics

MARCH 11, 2021

At Juice, we’ve helped our clients launch dozens of data products that generate new revenue streams, differentiate their solutions in the market and build stronger customer relationships. In this series I’ll take you through what you need to know to design, build, launch, sell and support a data product. Your users are your guidepost.

Predictive Modeling 128

Predictive Modeling Visualization Reporting Interactive 128

bridgei2i

OCTOBER 7, 2020

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here. click here.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

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.

Insurance 75

Insurance Data Science Testing Modeling 75

Decision Management Solutions

APRIL 15, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance.” In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question? , in which he argues that there are only three levers of value in insurance: 1. Sell More.

Insurance 63

Insurance Technology Predictive Analytics Sales 63

bridgei2i

JUNE 23, 2021

6 Ways AI Is Taking The Insurance Industry Into The Future. For example, the insurance industry is witnessing a strong acceleration in the adoption and growth of AI for task automation, improvement of service quality, and data-driven decision making. Insurance is a resource-intensive field. Claim Handling. Fraud Detection.

Insurance 52

Insurance Risk Deep Learning Data-driven 52

Dataiku

DECEMBER 7, 2020

Dealing with your insurer after an accident can be a stressful process, so when faced with the challenge of improving its claims process, a UK-based insurance firm turned to Dataiku.

Insurance 59

Insurance IT 59

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

Teradata

NOVEMBER 30, 2020

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

Insurance 59

Insurance Risk Management 59

DataKitchen

OCTOBER 20, 2023

As opposed to receiving one-size-fits-all status updates, these key stakeholders desire real-time, granular insights into the status of their specific data as it traverses the complicated data production pipeline. The post The Need For Personalized Data Journeys for Your Data Consumers first appeared on DataKitchen.

Insurance 176

Insurance Metadata Data-driven Data Quality 176

Jet Global

JUNE 5, 2020

What Is an Insurance KPI? An insurance Key Performance Indicator (KPI) or metric is a measure that an insurance company uses to monitor its performance and efficiency. Insurance metrics can help a company identify areas of operational success, and areas that require more attention to make them successful. View Guide Now.

Insurance 59

Insurance Metrics Reporting KPI 59

CIO Business Intelligence

JANUARY 25, 2024

Other promising use cases for generative AI banking chatbots include guiding customers through loan applications, suggesting new financial products, advising on mortgage and debt repayment, and helping credit analysts by offering suggestions on loan underwriting. That is projected to reach $4.5 trillion, according to McKinsey.

Insurance 103

Insurance Interactive Marketing Publishing 103

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. Hence, applying AI in the Insurance industry can be advantageous.

Insurance 52

Insurance Recreation/Entertainment Software Enterprise 52

Decision Management Solutions

MARCH 17, 2022

We recently posted a poll on where insurers see digital transformation making the biggest impact on their business. Decision Management Solutions has helped many leading insurance businesses modernize over the years – so we have lots of experience in this area – but we were curious where others were focused.

Digital Transformation 52

Digital Transformation Insurance ROI Machine Learning 52