IBM Big Data Hub

MARCH 27, 2024

As businesses make plans to mitigate climate risks such as extreme weather events, they have an opportunity to innovate with new business models and demonstrate leadership by implementing more sustainable practices. What is climate risk? Substantial repair costs might arise, particularly impacting insurance companies.

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Risk Forecasting Insurance Strategy 73

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.

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Insurance Machine Learning Cost-Benefit Risk 98

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. The twenty-first century offers a lot of exciting innovations when it comes to data processing and analytics.

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Smart Data Collective

SEPTEMBER 28, 2022

In this blog post, we’ll explore some of the advantages of using a big data management solution for your business: Big data can improve your business decision-making. Big data is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools.

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Big Data Management Data Quality Cost-Benefit 104

IBM Big Data Hub

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events.

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Risk Strategy Risk Management Insurance 79

Smart Data Collective

MARCH 7, 2021

The good news is that big data has become a very effective technology to help bolster cybersecurity. There are a lot of ways companies are using new advances in machine learning and other data technologies to mitigate the risks of cyberattacks. Big Data is Offering a Number of New Options to Improve Online Defenses.

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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.

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Insurance Digital Transformation Risk Management Risk 57

Smart Data Collective

NOVEMBER 9, 2021

The average consumer is unaware of the phenomenal benefits that big data provides. One of the biggest benefits of big data is that it can help improve driver safety. Data analytics technology is becoming more useful when it comes to stopping traffic accidents. Big Data is the Key to Addressing Driver Safety Risks.

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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. Another historic example is crop and livestock insurance in Germany in the 1700s.

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Smart Data Collective

JANUARY 17, 2020

Big Data has a lot of great uses in the work of consumer marketing. In fact, Big Data has many uses in helping patient lives in the world of healthcare. The market for big data in healthcare is growing 22% a year. From predicting risk factors to helping cure disease, Big Data in healthcare is multi-faceted.

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Smart Data Collective

AUGUST 7, 2019

We have talked extensively about the fields that rely most heavily on big data. The insurance industry is one of the companies investing the most in big data technology. Exactly one year ago today, SNS Telecom & IT published a report highlighting the demand for big data in the insurance industry.

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Big Data Insurance Cost-Benefit Risk 76

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.

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Insurance Cost-Benefit Digital Transformation Marketing 66

Smart Data Collective

APRIL 13, 2021

Big data analytics has already had a transformative influence across a wide range of sectors, and it’s perhaps no more prevalent than in the world of healthcare. Big data analytics has enabled doctors to access a holistic view of a patient’s health history. Image: Impact ). Smart Glasses & Healthcare Delivery.

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Smart Data Collective

JULY 25, 2019

Not long ago, big data was one of the most talked about tech trends , as was artificial intelligence (AI). But, in case people need a reminder of how fast technology evolves , they only need to consider something newer — big data AI. So, big data AI can both compile information and respond to it.

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Big Data Insurance Risk Cost-Benefit 85

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. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses.

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Risk Modeling IT Risk Management 111

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. Underwriting

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Insurance Risk Deep Learning Data-driven 52

Cloudera

APRIL 7, 2021

Insurance carriers have a unique opportunity: They have access to powerful technologies and a wealth of information that can help them to better understand their customers and provide an enhanced customer experience. . In a March 2021 poll by Celent , “improving customer experience” was identified as the top focus (63%) for insurers.

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Insurance Digital Transformation Internet of Things IoT 57

Smart Data Collective

FEBRUARY 2, 2021

Big Data is more than a trend or a buzzword. In 2020, the size of the global Big Data market reached 56 billion, and it’s on track to exceed 103 billion by 2027. Consumers are generating huge amounts of data at a rapid rate, and it is estimated that up to 90% of all data was generated only in the past two years.

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Big Data Recreation/Entertainment Cost-Benefit Finance 84

Smart Data Collective

SEPTEMBER 15, 2019

Big data has brought major changes to countless industries. Healthcare, finance, criminal justice, and manufacturing have all been touched by advances in big data. However, big data is also transforming other industries. The music industry is relying more on big data than ever.

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Big Data Optimization Insurance Predictive Analytics 78

Smart Data Collective

MAY 21, 2019

. Organizations are using big data to solve many of their most pressing challenges. Some big data applications have received considerably more attention than others. Marketing and finance are two of the functions that are most dependent on big data. Organizations need to carefully protect their equipment.

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Big Data Cost-Benefit Predictive Analytics Insurance 76

Smart Data Collective

SEPTEMBER 15, 2019

Big data is changing the financial industry in a truly astounding way. Hussain of Atos Spain published a white paper on the growing relevance of big data in the finance and insurance verticals. Financial professionals aren’t the only ones utilizing big data to make more informed financial decisions.

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Big Data Machine Learning Risk Insurance 86

IBM Big Data Hub

AUGUST 16, 2023

Nevertheless, I also understand the criticality of evaluating the inherent risks before embarking on its direct adoption within our organizations. In this discussion, I explore the risks and challenges associated with ChatGPT in an enterprise context, necessitating a careful approach to its implementation.

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IBM Big Data Hub

NOVEMBER 30, 2023

Risks from wildfires, floods, heat, drought and wind have always been a concern, but climate change has intensified these risks, making them more frequent and unpredictable for organizations. For instance, proactively identify high-risk assets and develop a contingency plan. What can organizations do about climate change?

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datapine

OCTOBER 21, 2020

Big data has changed the way we manage, analyze, and leverage data across industries. One of the most notable areas where data analytics is making big changes is healthcare. In this article, we’re going to address the need for big data in healthcare and hospital big data: why and how can it help?

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Big Data Data Analytics Analytics Cost-Benefit 364

Smart Data Collective

MARCH 3, 2021

The legal sector is still in its infancy when it comes to big data and analytics. Using analytics implies utilizing data to supplement the knowledge, judgement, and experience in the decision-making process and evaluating the situations from a new perspective. Big data can help lawyers chose cases.

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Analytics Big Data Predictive Modeling Insurance 126

IBM Big Data Hub

JANUARY 15, 2024

How do organizations avoid the digital risks of ‘technology misuse’ and achieve efficient innovation that ‘technology promotes production’? As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co.,

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Digital Transformation Insurance Optimization ROI 80

CIO Business Intelligence

APRIL 28, 2022

Right from the start, auxmoney leveraged cloud-enabled analytics for its unique risk models and digital processes to further its mission. Particularly in Asia Pacific , revenues for big data and analytics solutions providers hit US$22.6bn in 2020 , with financial services companies ranking among their biggest clients.

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Analytics Insurance Big Data Uncertainty 98

Smart Data Collective

JUNE 26, 2019

Big data and predictive analytics will lead to healthcare improvement. Big data will lead to early diagnoses, especially in deadly forms of cancer and disease. Predictive analysis will allow for doctors to put all of a person’s history into an algorithm to better determine the patient’s risk of certain diseases.

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Predictive Analytics Analytics Insurance Cost-Benefit 92

Cloudera

AUGUST 12, 2021

By using Cloudera’s big data platform to harness IoT data in real-time to drive predictive maintenance and improve operational efficiency, the company has realized about US$25 million annually in new profit resulting from better efficiency of working sites. . Risk Management. Conclusion.

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Data-driven Manufacturing Insurance Risk Management 107

Cloudera

JUNE 13, 2023

Australia and New Zealand Banking Group (ANZ), one of Australia’s Big Four banks and one of New Zealand’s top banks, offers commercial and retail banking and financial services from more than 1,100 branches and offices. The approach offered lower risks and allowed for comprehensive platform and application testing.

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IBM Big Data Hub

APRIL 24, 2024

Deploying privacy protections: The app uses encryption to protect data from cybercriminals and other prying eyes. Even if the data is stolen in a cyberattack , hackers can’t use it. These access controls reduce the chances that the data is used for unauthorized or illegal purposes.

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Risk Measurement Data Governance Insurance 94

Smart Data Collective

NOVEMBER 1, 2020

Advances in big data are a double-edged sword in the fight against online scams and data breaches. The reason for this is that both cybersecurity professionals and cybercriminals are using data technology to their full advantage. Data Analytics is the First Line of Defense Against Online Criminals.

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Data Analytics Analytics Big Data Data-driven 101

IBM Big Data Hub

MARCH 20, 2024

For highly regulated industries, these challenges take on an entirely new level of expectation as they navigate evolving regulatory landscape and manage requirements for privacy, resiliency, cybersecurity, data sovereignty and more. Similarly, in the U.S.

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Risk Management Risk Enterprise Business Services 85

Smart Data Collective

MAY 23, 2021

AI (Artificial Intelligence) and ML (Machine Learning) will bring improvement in Fintech in 2021 as the accuracy and personalization of payment, lending, and insurance services while also assisting in the discovery of new client pools. Client Risk Profile Categorization. A crucial decision is needed in many financial sectors.

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Insurance Machine Learning Cost-Benefit Data-driven 118

Smart Data Collective

JANUARY 12, 2022

Data analytics has arguably become the biggest gamechanger in the field of finance. Many large financial institutions are starting to appreciate the many advantages that big data technology has brought. Specific Ways Small Businesses Can Use Data Analytics to Resolve Financial Problems. Fraud risks.

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Data Analytics Analytics Finance Data mining 115

IBM Big Data Hub

JANUARY 16, 2024

One example of this is in insurance. Since AI has an ability to find trends in data, AI helps insurers create personalized products which could lead to more accurate risk assessments and ease insurance costs for individuals.

Risk Management 52

Risk Management Insurance Cost-Benefit Risk 52

Smart Data Collective

JULY 11, 2022

We have talked about the benefits of using big data in the marketing profession in the past. CMOs Are Investing in the Benefits of Big Data. The demand for data analytics technology in the marketing will continue to grow as more executives recognize its benefits. Content marketing.

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