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. A decision model is the backbone of any decision automation initiative. By: Zoe Zhou.

Insurance 75

Insurance Consulting Predictive Analytics Interactive 75

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

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

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

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 115

Digital Transformation Insurance Interactive Sales 115

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

Domino Data Lab

AUGUST 1, 2021

In this article we cover explainability for black-box models and show how to use different methods from the Skater framework to provide insights into the inner workings of a simple credit scoring neural network model. The interest in interpretation of machine learning has been rapidly accelerating in the last decade.

Modeling 139

Modeling Deep Learning Machine Learning Knowledge Discovery 139

Decision Management Solutions

FEBRUARY 25, 2019

To keep processing costs low, many insurance carriers have a goal to increase the percentage of their claims that can be processed and decisioned with no human decision-making involved. Perhaps surprisingly, there remains a fair amount of human intervention involved in processing insurance claims. Design and build a decision model.

Insurance 40

Insurance Management Machine Learning Modeling 40

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. DL models can improve over time through further training and exposure to more data. billion by 2030.

Enterprise 106

Enterprise Interactive Data-driven Key Performance Indicator 106

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

MARCH 8, 2023

“I was doing some work in a trust in the English NHS and we gave everybody tools, laptops and mobile solutions, and redesigned the operating model and how we worked together. We tried to have the operational care model and service design drive out technology requirements. All of those things really changed the paradigm.

Insurance 94

Insurance Digital Transformation Interactive Risk 94

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 96

Cost-Benefit Interactive Sales Insurance 96

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 112

Risk Interactive Insurance Strategy 112

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

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?

Modeling 98

Modeling Forecasting Metrics Finance 98

CIO Business Intelligence

JANUARY 29, 2024

The evolving role of IT, coupled with new pandemic-era work models, has sifted the culture conversation away from in-office trappings. Not only does culture define who you are and how you interact with one another, it also impacts a team’s performance and productivity. To be clear, everyone still fancies a high-end perk.

IT 124

IT Insurance Digital Transformation Technology 124

IBM Big Data Hub

FEBRUARY 13, 2024

The compact design and touch-based interactivity seemed like a leap into the future. This data is fed into generational models, and there are a few to choose from, each developed to excel at a specific task. Generative adversarial networks (GANs) or variational autoencoders (VAEs) are used for images, videos, 3D models and music.

Enterprise 125

Enterprise Modeling Testing Data-driven 125

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

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

Cloudera

JULY 15, 2021

For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Attendees included senior risk managers and analytics experts from financial institutions and insurance companies. Observe what the model has to offer even if not the intended output.

Risk 97

Risk Optimization Management Insurance 97

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 77

Insurance Visualization Data Lake Metrics 77

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. That means if a class can be online, students want that option.

IT 81

IT Insurance Digital Transformation Broadcasting 81

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 51

Risk Management Insurance Cost-Benefit Risk 51

IBM Big Data Hub

SEPTEMBER 11, 2023

We are in the midst of an AI revolution where organizations are seeking to leverage data for business transformation and harness generative AI and foundation models to boost productivity, innovate, enhance customer experiences, and gain a competitive edge. Netezza SaaS: Transitioning to the cloud has never been easier.

Data-driven 114

Data-driven Insurance Digital Transformation Data Warehouse 114

IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 107

Insurance Digital Transformation Unstructured Data Risk 107

Smart Data Collective

JULY 8, 2021

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. A surprising four out of five financial professionals believe big data and AI is upending their business models. This will help you save money.

Machine Learning 143

Machine Learning Management Finance Cost-Benefit 143

IBM Big Data Hub

APRIL 18, 2024

While these large language model (LLM) technologies might seem like it sometimes, it’s important to understand that they are not the thinking machines promised by science fiction. Most experts categorize it as a powerful, but narrow AI model. A key trend is the adoption of multiple models in production.

Cost-Benefit 96

Cost-Benefit Modeling Manufacturing Interactive 96

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 87

Unstructured Data Deep Learning Insurance Interactive 87

Decision Management Solutions

JULY 24, 2023

Operational AI generally makes a high-volume transaction or interaction a little more precise, a little more automated. If you are already focusing on operational decision making – building decision models or implementing business rules or both – then you can immediately identify ML/AI opportunities.

Insurance 52

Insurance Visualization Modeling Interactive 52

bridgei2i

MAY 20, 2020

Tourism and Hospitality are also largely affected, but in FS, insurance, and CPG, the impact is moderate. But because of COVID-19, digital transformation is helping B2B models trying to replicate successful B2C models. So, there are areas which are moderately affected, you know, take financial services, insurance, and CPG.

Enterprise 98

Enterprise Digital Transformation B2B Insurance 98

Smart Data Collective

NOVEMBER 3, 2021

We have talked extensively about the role of AI in investment management and insurance. 2020 became the year when a lot of customers first experienced their remote interaction with banks and enjoyed it. All that is tightly connected with omnichannel interaction , where customers’ preferences are prioritized.

Software 121

Software Data-driven Interactive Insurance 121

CIO Business Intelligence

JUNE 2, 2022

The famed institution used the CRM capabilities of Microsoft Dynamics, which is part of the Microsoft Healthcare Cloud, to interact with patients and schedule appointments, Kull explains. It made sense to expand the Salesforce model, so we brought in Rootstock. Matthew Kull. Cleveland Clinic. It was a no-brainer,” he says.

Manufacturing 131

Manufacturing Interactive Marketing Cost-Benefit 131

CIO Business Intelligence

MAY 31, 2022

They are the blueprints for all kinds of business functions, enabling disparate parts of the organization to work together and to interact with suppliers and customers. A company can only be as flexible, efficient, and agile as the interaction of its business processes allow. BPM vs. RPA.

Enterprise 78

Enterprise Management Interactive Software 78

Octopai

FEBRUARY 9, 2021

IFRS 17 brings potential for more accurate reporting and valuation of your insurance company’s contracts – both by internal analysts and external investors. IFRS 17 Insurance Contracts in a Nutshell. But apples-to-apples comparisons have, historically, been tricky with insurance contracts. All of the above.

Insurance 52

Insurance Reporting Metadata Risk 52

datapine

OCTOBER 21, 2020

Now that we live longer, treatment models have changed and many of these changes are namely driven by data. By utilizing key performance indicators in healthcare and healthcare data analytics, prevention is better than cure, and managing to draw a comprehensive picture of a patient will let insurance provide a tailored package.

Big Data 364

Big Data Data Analytics Analytics Cost-Benefit 364

IBM Big Data Hub

JULY 11, 2023

This sort of routine monitoring and scheduling takes tasks off the hands of clinical staff, who can then spend more time directly on patient care, where human judgment and interaction matter most. In some instances, such as identifying cardiomegaly in chest X-rays, they found that a hybrid human-AI model produced the best results.

Deep Learning 60

Deep Learning Cost-Benefit Insurance Machine Learning 60