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

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

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

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.

Insurance 92

Insurance Data Analytics Analytics IoT 92

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

bridgei2i

JANUARY 18, 2021

Case study: Underwriting Process Automation for M&A Insurance. The client, a leading commercial insurer in North America, was looking to reduce the deal processing time of policies by automating the retrieval of specific information from various documents and boost conversions. Business Context. How BRIDGEi2i Delivered Value?

Insurance 52

Insurance Interactive Enterprise Strategy 52

bridgei2i

JANUARY 17, 2021

Case study: Emerging Risk Identification for Personal Lines Insurance. The client, a global insurance leader, wanted to identify emerging risks, associated drivers & trends by analyzing various external data sources including medical journals, legal opinion blogs, newsfeed & social media. Business Context.

Insurance 52

Insurance Risk Interactive Enterprise 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. So, what kind of features do insurance companies need to offer to retain and attract customers? The answers are straightforward.

Insurance 52

Insurance Testing Interactive Analytics Technologies 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 57

Insurance Digital Transformation Internet of Things IoT 57

CIO Business Intelligence

JANUARY 25, 2024

In direct patient interactions, expect the next generation of AI-powered chatbots to improve care for both caregivers and patients. banking customers using chatbots for checking and savings account interactions doubled, Bain & Company research found. Banking customers are increasingly using chatbots in their everyday transactions.

Insurance 105

Insurance Interactive Marketing Publishing 105

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

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

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

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. Digitization vs tradition Although the insurance sector has a traditional image, that stopped being the case years ago, says Vaquero.

Digital Transformation 128

Digital Transformation Insurance Interactive Sales 128

CIO Business Intelligence

JANUARY 3, 2024

The contact center is where customers interact with companies through various channels, such as phone, email, chat, or social media. One of the solutions aimed to improve customer experience and agent efficiency in insurance company contact centers by creating an automated summary of customer-agent calls and chats.

B2B 126

B2B Insurance Consulting Cost-Benefit 126

Information Builders

MAY 12, 2015

Information Builders, a leader in business intelligence ( BI ) and analytics, information integrity, and integration solutions, announced during the Analytics for Insurance Conference and Expo in Toronto this week that its insurance solutions help facilitate claims, actuarial, financial, risk, marketing processes, and more for insurance providers across (..)

Insurance 53

Insurance Interactive Analytics Business Intelligence 53

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

Cloudera

APRIL 20, 2022

As healthcare providers and insurers /payers worked through mass amounts of new data, our health insurance practice was there to help. One of our insurer customers in Africa collected and analyzed data on our platform to quickly focus on their members that were at a higher risk of serious illness from a COVID infection.

Insurance 96

Insurance Measurement Data Lake Risk 96

IBM Big Data Hub

JANUARY 18, 2024

AI analyzes customer interactions to provide recommendations and suggest next steps. Interact when and where customers are Conversational marketing can be deployed across a wide variety of platforms and tools to meet your customers where and how they prefer. Higher customer satisfaction can increase your customer value.

Cost-Benefit 96

Cost-Benefit Interactive Sales Insurance 96

CIO Business Intelligence

MARCH 8, 2023

There was resistance, though, where people felt they still needed an office, but there was an exponential increase in the use of virtual tools and capabilities to how we interacted with each other as professionals, and with our patients. All of those things really changed the paradigm. That’s not sustainable for us, as a society.

Insurance 98

Insurance Digital Transformation Interactive Risk 98

Cloudera

MAY 4, 2022

AI has the potential to transform operations by improving three fundamental business requirements: process automation, decision-making based on data insights, and customer interaction. Insurance and finance companies leverage this speed to review claims, loan requests, and credit checks. Error reduction. Workflow improvement.

Cost-Benefit 129

Cost-Benefit Internet of Things Insurance Data-driven 129

Alation

JULY 26, 2021

During my time as a data specialist at American Family Insurance, it became clear that we had to move away from the way things had been done in the past. About American Family Insurance. American Family Insurance, or AmFam, is a U.S.-based It begins with recognizing a problem. billion in 2020. The people behind the data are key.

Insurance 98

Insurance Digital Transformation Enterprise Data Governance 98

Cloudera

SEPTEMBER 22, 2022

Insurance carriers are always looking to improve operational efficiency. Combining this data with more classical information such as annual checkups and medical records provides better insight into risks related to health, disability, and life insurance. Cloudera Data Platform (CDP) is such a hybrid data platform.

Analytics 97

Analytics Insurance IoT Risk 97

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. Automated Customer Service & Chatbots. A crucial decision is needed in many financial sectors.

Insurance 116

Insurance Machine Learning Cost-Benefit Data-driven 116

CIO Business Intelligence

APRIL 5, 2024

California and Connecticut lead the pack One state to watch is California, partly because of its large population that interacts with businesses across the US, and partly because the state legislature there tends to be ahead of the pack on consumer protection issues. “There’s obviously going to be heightened scrutiny here across the board.”

Risk 132

Risk Interactive Insurance Strategy 132

CIO Business Intelligence

OCTOBER 13, 2022

Aflac is the leading provider of supplemental health insurance in the United States, and Gilbert has been recognized for his commitment to accelerating the company’s digital transformation strategy. Insurance is an interesting business, because you’re not building something; you’re in business to fulfill a promise.

IT 128

IT Insurance Cost-Benefit Modeling 128

CIO Business Intelligence

JANUARY 29, 2024

Not only does culture define who you are and how you interact with one another, it also impacts a team’s performance and productivity. Gray Nestor, EVP and CIO, Brown & Brown Insurance Brown & Brown Insurance “You have to be willing to give people feedback and examples on a regular basis to drive a different result,” Nestor says.

IT 128

IT Insurance Digital Transformation Technology 128

IBM Big Data Hub

FEBRUARY 23, 2024

The emergence of NLG has dramatically improved the quality of automated customer service tools, making interactions more pleasant for users, and reducing reliance on human agents for routine inquiries. These technologies enable systems to interact, learn from interactions, adapt and become more efficient. billion by 2030.

Enterprise 106

Enterprise Interactive Data-driven Key Performance Indicator 106

CIO Business Intelligence

MARCH 27, 2023

We will see a focus on making customer interactions easier to understand, resulting in less repetition of information and disconnects to create better bot experiences. Here’s an example of how this could work: A customer calls his car insurance company after being in a minor fender bender. For now, it’s “slow and steady wins the race.”

Interactive 116

Interactive Cost-Benefit Insurance Predictive Analytics 116

Cloudera

DECEMBER 11, 2020

A recent McKinsey survey, cited in CRN , shows that worldwide, 58 percent of customer interactions were digital as of July 2020. That compares to only 36 percent of customer interactions as of December 2019, which was before the pandemic impacted business, and only 20 percent in May 2018. Insurance . Data Variety.

Insurance 92

Insurance Digital Transformation Unstructured Data Machine Learning 92

CIO Business Intelligence

OCTOBER 25, 2022

Improve risk, governance, and compliance with a comprehensive view of data contained in processes and interactions so it can be secured and protected to meet these regimes. Perhaps the most visible of these efforts is in personal auto insurance. Drivers can choose coverages based on price or needs.

Insurance 119

Insurance Data Architecture Data-driven Interactive 119

CIO Business Intelligence

MAY 4, 2022

Interactions with enterprises like banks and insurance companies require some form of identification, which in turn makes the onboarding experience difficult for many customers. KYC protocols also are used by a variety of companies to prevent fraud and theft.

Insurance 98

Insurance Interactive Risk Enterprise 98

AWS Big Data

JUNE 26, 2023

Overview of solution In this post, we go through the various steps to apply ML-based fuzzy matching to harmonize customer data across two different datasets for auto and property insurance. Transform raw insurance data into CSV format acceptable to Neptune Bulk Loader , using an AWS Glue extract, transform, and load (ETL) job.

Insurance 78

Insurance Visualization Data Lake Metrics 78

IBM Big Data Hub

OCTOBER 2, 2023

With over 67,000 registered FertilityAnswers iOS and Android users on Ovum Health’s free question-and-answer platform, the bot can interact with patients at scale while maintaining the care and empathy of a healthcare professional.

Insurance 94

Insurance ROI Interactive Testing 94

CIO Business Intelligence

JUNE 13, 2022

Today, most banks, insurance companies, and other kinds of financial services firms have deployed natural language processing (NLP) tools to address some of their customer service needs. Juniper Research predicts that chatbots will account for 79% of successful mobile banking interactions in 2023. How is conversational AI different?

Data Processing 105

Data Processing Deep Learning Insurance Cost-Benefit 105

CIO Business Intelligence

AUGUST 14, 2023

IT worked with the hospital’s clinic operations group to build “EmmiJourneys,’’ a series of automated scripts that were a blend of engaging and educational content in the form of interactive voice response calls and multimedia videos targeting patients based on their needs.

IT 98

IT Insurance Digital Transformation Broadcasting 98

CIO Business Intelligence

JUNE 7, 2022

Those numbers represent the projected growth of chatbot interactions among banking customers between 2019 to 2023 and the cost savings from 862 hours less of work by support personnel, according to research by Juniper Research. billion in cost savings for the insurance industry as well during the same period. .

Unstructured Data 98

Unstructured Data Deep Learning Insurance Interactive 98