CIO Business Intelligence

SEPTEMBER 20, 2023

With 90 years of history, Mapfre is one of the giants of the Spanish insurance sector. The personalization of services and products is going to be fundamental in the insurance sector,” she says, an aspect she’s spearheading, along with a commitment to data and AI. “The Here, she speaks with Esther Macías on how it’ll all work.

Modeling 88

Modeling Insurance IT Cost-Benefit 88

Cloudera

NOVEMBER 4, 2020

Insurance is no different. Insurance is not something the average consumer thinks about every day but when a life changing event happens, insurance becomes extremely important. It is in this “Moment of Truth” that insurers excel or fail. To provide the best price, the insurer needs to better understand their customer.

Insurance 114

Insurance Machine Learning Risk IoT 114

erwin

MAY 2, 2022

How to create a solid foundation for data modeling of OLTP systems. As you undertake a cloud database migration , a best practice is to perform data modeling as the foundation for well-designed OLTP databases. This makes mastering basic data modeling techniques and avoiding common pitfalls imperative. Data modeling basics.

Modeling 98

Modeling Insurance Cost-Benefit Data Warehouse 98

Alation

OCTOBER 4, 2022

The foundation of insurance is data and analytics. Actuaries and their mathematical models enable insurers to calculate risk to determine premiums. Today, the rise of digital insurance companies and the changing risk landscape together drive the industry’s digital transformation. Why is it Important?

Insurance 52

Insurance Data Governance Risk Strategy 52

CIO Business Intelligence

MARCH 16, 2022

Insurance companies are no longer only there for their customers in times of disaster. Modern approaches to insurance and changes in customer expectations mean that the insurance business model looks very different than it used to. For many insurers, this means investing in cloud.

Insurance 80

Insurance Cost-Benefit Data Processing Strategy 80

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

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

datapine

OCTOBER 21, 2020

In fact, healthcare analytics has the potential to reduce costs of treatment, predict outbreaks of epidemics, avoid preventable diseases, and improve the quality of life in general. We will then look at 18 big data examples in healthcare that already exist and that medical-based institutions can benefit from.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

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

CIO Business Intelligence

DECEMBER 27, 2023

Those same characteristics, however, reveal the risks AI pose to this sector. It’s really good at summarising, filling in blanks, and connecting dots, so generative AI is fit for purpose,” says Brian Baral, global head of risk at Genpact. So business technology leaders in financial services are carefully navigating a path toward AI.

Insurance 135

Insurance Cost-Benefit Risk Technology 135

CIO Business Intelligence

MAY 28, 2022

Liberty Mutual’s cloud infrastructure runs an array of business applications and analytics dashboards that yield real-time insights and predictions, as well as machine learning models that streamline claims processing. The benefits of a solid cloud foundation. We’ve already built up blockchain and we’ll continue with all those.”.

Insurance 128

Insurance Machine Learning Digital Transformation Cost-Benefit 128

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.

Risk 54

Risk Modeling Enterprise Interactive 54

CIO Business Intelligence

APRIL 24, 2024

The first use of generative AI in companies tends to be for productivity improvements and cost cutting. But there are only so many costs that can be cut. CIOs are well positioned to cut costs since they’re usually well acquainted with a company’s digital processes, having helped set them up in the first place.

Sales 118

Sales Finance Experimentation Cost-Benefit 118

John Wheeler

OCTOBER 21, 2019

Over the past month, I’ve been speaking to various groups to help them prepare for the onslaught of digital risks in their organizations. A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches.

Risk 53

Risk Risk Management Digital Transformation Insurance 53

IBM Big Data Hub

MAY 28, 2024

Companies continue to create more attack surfaces with hybrid models, scattering critical data across cloud, third-party and on-premises locations, while threat actors constantly devise new and creative ways to exploit vulnerabilities. These data breaches can cost their victims in many ways.

Strategy 72

Strategy Measurement Risk Cost-Benefit 72

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

SEPTEMBER 20, 2023

Most commonly, organizations developing plans for generative AI are opting to fine-tune third-party models like OpenAI’s GPT 4.0, Both options make generative AI much quicker and far less expensive to implement than building your own foundation models from scratch. Which means that no model will have the power to make decisions.

Insurance 117

Insurance Unstructured Data Cost-Benefit Interactive 117

CIO Business Intelligence

DECEMBER 11, 2023

“This regulation aims to ensure that fundamental rights, democracy, the rule of law and environmental sustainability are protected from high risk AI, while boosting innovation and making Europe a leader in the field,” said the press release issued by European Parliament.

Risk 102

Risk Testing Insurance Cost-Benefit 102

Smart Data Collective

MAY 10, 2022

For example, banks now apply AI to assess credit risks with high accuracy. They include; Credit risk assessment. Credit risk assessment entails estimating the probability of a prospective borrower failing to repay a loan. If the AI model detects any, it can flag them for further investigation or automatically halt them.

Marketing 109

Marketing Technology Insurance Machine Learning 109

Jet Global

JULY 15, 2021

Despite these limitations, every smart business relies upon planning, forecasting, and scenario modeling to establish reasonable parameters for understanding what the future might hold, setting a strategy for the organization, and determining which actions to take in both the short and long terms. Learn to Expect the Unexpected.

Modeling 98

Modeling Recreation/Entertainment Sales Cost-Benefit 98

O'Reilly on Data

OCTOBER 22, 2020

Taking the time to work this out is like building a mathematical model: if you understand what a company truly does, you don’t just get a better understanding of the present, but you can also predict the future. Since I work in the AI space, people sometimes have a preconceived notion that I’ll only talk about data and models.

Consulting 292

Consulting Risk Cost-Benefit Modeling 292

Corinium

APRIL 25, 2019

Ahead of the Chief Data Analytics Officers & Influencers, Insurance event we caught up with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity to discuss how the industry is evolving. Are you seeing any specific issues around the insurance industry at the moment that should concern CDAOs?

Insurance 150

Insurance Risk IoT Cost-Benefit 150

IBM Big Data Hub

FEBRUARY 14, 2024

Other uses include Netflix offering viewing recommendations powered by models that process data sets collected from viewing history; LinkedIn uses ML to filter items in a newsfeed, making employment recommendations and suggestions on who to connect with; and Spotify uses ML models to generate its song recommendations.

Cost-Benefit 83

Cost-Benefit Insurance Unstructured Data Machine Learning 83

O'Reilly on Data

SEPTEMBER 19, 2023

.” Consider the structural evolutions of that theme: Stage 1: Hadoop and Big Data By 2008, many companies found themselves at the intersection of “a steep increase in online activity” and “a sharp decline in costs for storage and computing.” And harder to sell a data-related product unless it spoke to Hadoop.

Machine Learning 243

Machine Learning Testing Modeling Cost-Benefit 243

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 49

Risk Management Insurance Cost-Benefit Risk 49

IBM Big Data Hub

JANUARY 18, 2024

The latest artificial intelligence (AI) chatbots , also known as intelligent virtual assistants or virtual agents, not only understand natural conversations thanks to advanced language models but also proactively automate various tasks using conversational AI technology. ” The advantages of chatbots surround us.

Cost-Benefit 88

Cost-Benefit Interactive Sales Insurance 88

Smart Data Collective

AUGUST 7, 2019

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. The report showed that insurers spent $2.4 Insurers have an abundance of data which often goes un-utilized.

Big Data 76

Big Data Insurance Cost-Benefit Risk 76

Smart Data Collective

AUGUST 29, 2022

There are a lot of benefits of using analytics to help run a business. These tools help companies boost productivity , reduce costs and achieve other objectives. For example, insurance companies use cluster analysis to detect false claims, while banks use it to assess creditworthiness. Predictive analytics.

Analytics 114

Analytics Predictive Analytics Machine Learning Insurance 114

Jet Global

APRIL 5, 2021

Enterprises actively use financial modeling to guide their financial planning and strategic decision-making. Financial models offer data-driven, quantitative analysis that tells you where your company stands and where it’s heading. That being said, one model can’t do it all. What Is Financial Modeling? Risk management.

Modeling 98

Modeling Forecasting Metrics Finance 98

CIO Business Intelligence

MAY 27, 2022

Liberty Mutual’s cloud infrastructure runs an array of business applications and analytics dashboards that yield real-time insights and predictions, as well as machine learning models that streamline claims processing. The benefits of a solid cloud foundation. We’ve already built up blockchain and we’ll continue with all those.”.

Insurance 83

Insurance Machine Learning Digital Transformation Cost-Benefit 83

Smart Data Collective

JULY 8, 2021

Intuitively, this also means that consumers stand to benefit from advances in artificial intelligence as well. However, they should not be passive about waiting for their bank, insurance company or other financial institution to advise them about new technology that can assist them.

Machine Learning 143

Machine Learning Management Finance Cost-Benefit 143

CIO Business Intelligence

APRIL 27, 2023

Preserving trust As enterprises race to adopt generative AI and begin to realize its benefits, there is a simultaneous mandate in play. Organizations must proactively mitigate generative AI’s inherent risks, in areas such as ethics, bias, transparency, privacy and regulatory requirements.

Enterprise 70

Enterprise Insurance Cost-Benefit Digital Transformation 70

CIO Business Intelligence

SEPTEMBER 13, 2022

For the evolution of its enterprise storage infrastructure, Petco had stringent requirements to significantly improve speed, performance, reliability, and cost efficiency. Infinidat provided unmatched performance, availability, flexibility and lower total cost of ownership that the bank needed to maintain their edge in the marketplace.

Enterprise 70

Enterprise Insurance Cost-Benefit ROI 70

CIO Business Intelligence

DECEMBER 7, 2023

You must also understand how moving to cloud drives changes in enterprise cybersecurity—how to protect those resources, drive down risk, and improve productivity. What’s the best return on our cybersecurity investment that takes the biggest bite out of cyberattack risk? What attack surfaces are exposed?

Enterprise 91

Enterprise Cost-Benefit Risk Data Processing 91

CIO Business Intelligence

APRIL 29, 2022

Preparing for an artificial intelligence (AI)-fueled future, one where we can enjoy the clear benefits the technology brings while also the mitigating risks, requires more than one article. Many organisations focus too heavily on fine tuning their computational models in their pursuit of ‘quick-wins.’

Data Governance 141

Data Governance IT Risk Data Lake 141

IBM Big Data Hub

OCTOBER 12, 2023

The tasks behind efficient, responsible AI lifecycle management The continuous application of AI and the ability to benefit from its ongoing use require the persistent management of a dynamic and intricate AI lifecycle—and doing so efficiently and responsibly. Here’s what’s involved in making that happen.

Cost-Benefit 78

Cost-Benefit Metadata Data Governance Modeling 78

IBM Big Data Hub

JULY 11, 2023

Artificial intelligence is used in healthcare for everything from answering patient questions to assisting with surgeries and developing new pharmaceuticals, benefitting both patients and healthcare systems. How does artificial intelligence benefit healthcare?

Deep Learning 55

Deep Learning Cost-Benefit Insurance Machine Learning 55