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Innovating the Insurance Customer Experience

Decision Management Solutions

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.

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Using Technology to Reduce Operating Costs in Insurance

Decision Management Solutions

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.

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How Data Analytics Is Changing The Insurance Industry

Smart Data Collective

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.

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Using Technology to Grow Relationship Value in Insurance?

Decision Management Solutions

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.

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Seven Steps to Success for Predictive Analytics in Financial Services

Birst BI

An analytics alternative that goes beyond descriptive analytics is called “Predictive Analytics.”. Predictive Analytics: Predicting Future Outcomes. While descriptive analytics are focused on historical performance, predictive analytics are about predicting future outcomes.

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AI bots for customer experience: trends, insights, and examples

CIO Business Intelligence

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. Integration with cognitive intelligence (context-sensitive knowledge management, predictive analytics, and similar) will be key for doing so.

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Improve Underwriting Using Data and Analytics

Cloudera

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.