DataKitchen

JUNE 27, 2022

The post DataOps Risk Insurance & Mission Control first appeared on DataKitchen. Chris Bergh shares how to manage data quality and pipeline risk through implementing a 'Mission Control' center for DataOps.

Insurance 130

Insurance Risk Data Quality Management 130

Corinium

JANUARY 16, 2020

AI is coming to the disrupt the insurance industry. From Ping An in China to Lemonade in the US, companies across the globe are harnessing AI technologies to drag the sector into the 21st century.

Insurance 243

Insurance Technology Machine Learning 243

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 77

Insurance Predictive Modeling Cost-Benefit Modeling 77

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 75

Insurance Data-driven Predictive Analytics Modeling 75

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. IT as industry differentiator Insurers and financial services firms like MassMutual, of Springfield, Mass.,

Insurance 109

Insurance Machine Learning IT Digital Transformation 109

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 72

Insurance Risk Data Quality Modeling 72

Cloudera

SEPTEMBER 7, 2023

The Danger of Black-Box AI Solutions We believe the best, most pragmatic solution for AI in financial services and insurance is what we call–“Trusted AI.” But before more is said about what this is, let’s walk through some of the issues that a financial institution needs to take into account when it considers a commercial AI service.

Insurance 86

Insurance Data-driven Modeling Risk 86

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 122

Insurance Modeling Big Data IT 122

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 112

Insurance Analytics Data Analytics Big Data 112

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. How is AI changing the future of insurance claims?

Insurance 129

Insurance Big Data Cost-Benefit Unstructured Data 129

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 59

Insurance Cost-Benefit Digital Transformation Data-driven 59

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 91

Insurance Technology Enterprise Interactive 91

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 88

Insurance IoT Risk Data Processing 88

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 97

Insurance Data-driven Big Data Cost-Benefit 97

Smart Data Collective

OCTOBER 13, 2021

Cyber insurance may be the best solution for SMBs to protect themselves if and when they fall victim to a cyber-attack. Most cyber insurance policies for SMBs will cover up to one million dollars of damages, which includes coverage for profit losses, liabilities, and lawsuits.

Insurance 114

Insurance Cost-Benefit Measurement Management 114

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.

Machine Learning 95

Machine Learning Insurance Data Analytics Cost-Benefit 95

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 105

Insurance Machine Learning Data Enablement ROI 105

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

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 88

Insurance Management Cost-Benefit Digital Transformation 88

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 107

Insurance Data-driven Digital Transformation Analytics 107

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

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.

Insurance 100

Insurance Data-driven Unstructured Data Analytics 100

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. How is Data Management Useful In Insurance?

Data Governance 52

Data Governance Insurance Data-driven Risk 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 94

Insurance Risk Marketing 94

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. Last week Domino celebrated data science innovators driving breakthroughs in health and life sciences.

Data Science 52

Data Science Insurance IT Enterprise 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. Occupation.

Insurance 106

Insurance Measurement Risk Data-driven 106

Domino Data Lab

JULY 14, 2022

So the spotlight is on model risk management (MRM) and governance (MRG), two related critical processes for financial services and insurance companies, and the importance of these two disciplines is only expected to grow.

Insurance 98

Insurance Modeling Management Risk Management 98

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 56

Insurance Modeling Breakeven Statistics 56

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.

Dashboards 52

Dashboards Insurance Analytics KPI 52

Smart Data Collective

JUNE 26, 2019

The insurance industry is based on the idea of managing risk. The journal Risk Management and Insurance Review mentions that historically, in the latter half of the twentieth century, the analysis of trends was the primary driver in determining risk in the insurance business. Advanced Analytical Processes in Insurance.

Data Analytics 91

Data Analytics Insurance Analytics Big Data 91

Data Virtualization

MAY 26, 2022

Reading Time: 3 minutes Insurers are constantly challenged with compliance requirements changes, most of which heavily rely on excellent data management. It is crucial for insurers to examine their current data management practices with a critical eye and assess if they are setup to.

Insurance 52

Insurance Data Integration Management Data Governance 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.

Insurance 60

Insurance Digital Transformation Analytics IoT 60

Dataiku

OCTOBER 31, 2022

The insurance industry is one of the oldest in the modern world. And like all aged, stately things, it moves both gracefully and slowly. One of the consequences of the industry’s inertia has also become one of its biggest pain points: its reluctance to evolve out of the many legacy technologies upon which it continues to rely.

Insurance 52

Insurance Technology IT 52

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 Analytics Data Analytics 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

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 79

Insurance Cost-Benefit Data Warehouse Data Processing 79

Alation

APRIL 13, 2021

He shows how Texas Mutual Insurance Company has embraced data governance to build trust in data. Through the Snowcase program, we highlighted how Snowflake and Alation help joint customers with data governance in the insurance industry. In this blog, Chris shows how Snowflake and Alation together accelerate data culture.

Data Governance 98

Data Governance Insurance Data-driven Data Quality 98