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. 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

Decision Management Solutions

NOVEMBER 13, 2018

80% of data and analytics leaders with global life insurance and property & casualty carriers surveyed by McKinsey reported that their analytics investments are not delivering high impact. ” They analyze the data available and try to see what analytic models it contains. What’s stopping them from delivering high impact?

Insurance 40

Insurance Analytics Modeling Visualization 40

CIO Business Intelligence

FEBRUARY 16, 2024

Developing a data-led strategy The first, and most critical step in the process is accessing, integrating, and curating the underlying data that will be used to train and power AI models. This can be particularly challenging in heavily regulated industries such as healthcare, insurance, and finance. This is a challenge for many CIOs.

Strategy 137

Strategy Insurance Digital Transformation Enterprise 137

Cloudera

DECEMBER 11, 2020

Insurance and finance are two industries that rely on measuring risk with historical data models. To facilitate risk modeling in this new normal, agility and flexibility is required. Insurance . Data Variety. This will only become more important as we move into 2021 and a post-pandemic new normal.

Insurance 94

Insurance Digital Transformation Unstructured Data Machine Learning 94

O'Reilly on Data

MAY 18, 2020

This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. All predictive models are wrong at times?—just

Risk 359

Risk Modeling Data Processing Software 359

CIO Business Intelligence

AUGUST 29, 2022

Worldwide IT leaders are adopting and integrating a sustainable approach to their business models,” says Sanjay Singh, executive vice president and head, Alphabet and HCL Google Ecosystem, HCL. “A Adopting a sustainable model mindset across the enterprise fosters an environment for collaboration, innovation, and entrepreneurship.

Enterprise 91

Enterprise Internet of Things Measurement Finance 91

IBM Big Data Hub

APRIL 24, 2024

The Health Insurance Portability and Accountability Act (HIPAA) is a federal law that deals with how healthcare providers, insurance companies, and other businesses safeguard personal health information. Access control Strict access control measures can help prevent unauthorized access and use.

Risk 88

Risk Measurement Data Governance Insurance 88

CIO Business Intelligence

JUNE 7, 2022

To ensure robust analysis, data analytics teams leverage a range of data management techniques, including data mining, data cleansing, data transformation, data modeling, and more. What are the four types of data analytics? For example, how might social media spending affect sales? It is frequently used for risk analysis.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

Octopai

DECEMBER 11, 2022

Insurance companies misvalued or misreported on insurance contracts (which, to be fair, are notoriously hard to compare with precision). Instead of using internal models to decide how much capital they need to cover risks, banks now need to use standardized models for many types of assets. Enter: BCBS 239!

Insurance 52

Insurance Risk Metadata Reporting 52

Rita Sallam

JUNE 2, 2023

For the vendors that participate in the Bake-Off and Show Floor Showdowns, it is in equal measure fun and extremely stressful. Dataiku Dataiku chose to focus on flood risk by geography and flooding’s economic impact on commercial insurance policies and claims.

Optimization 52

Optimization Insurance Machine Learning Risk 52

Smart Data Collective

JANUARY 19, 2023

The DevOps model of software development has revolutionized the way we create, distribute, and deploy software. It’s a model that merges development and operations teams and allows for continuous delivery of complex applications.

Optimization 114

Optimization Cost-Benefit Software Measurement 114

Cloudera

MARCH 25, 2021

The protection and controls around data become increasingly complex when used in the context of banking and insurance activities. Personal and confidential information carries heightened sensitivity in the light of financial, health and insurance activities. Financial institutions and insurers understand the benefits of more data.

Data Strategy 65

Data Strategy Strategy Enterprise Insurance 65

CIO Business Intelligence

AUGUST 14, 2023

And when performed strategically in succession as Mahon has done at Werner, such quick wins can lead to much larger business transformation over time — with less big-bang disruption and change management thanks to measurable proof of enhancement along the way. That means if a class can be online, students want that option.

IT 93

IT Insurance Digital Transformation Broadcasting 93

CIO Business Intelligence

MARCH 8, 2023

Rather than just leveraging digital technology to seize new opportunities, such organisations are poised to create operating models for meeting evolving customer needs. More and more businesses today have taken root in a digital business model to serve as their stepping stone towards becoming Future Enterprises. Maria Beatriz A.

Enterprise 97

Enterprise Digital Transformation Insurance Strategy 97

IBM Big Data Hub

FEBRUARY 23, 2024

DL models can improve over time through further training and exposure to more data. When a user sends a message, the system uses NLP to parse and understand the input, often by using DL models to grasp the nuances and intent. Prioritizing tracking metrics accurately measures the success of your implementation.

Enterprise 107

Enterprise Interactive Data-driven Key Performance Indicator 107

Alation

NOVEMBER 4, 2022

Yet other goals seem a little aspirational and harder to quantify, but that doesn’t mean they’re not measurable — or achievable. Cost savings: By moving to a cloud computing model, for example, companies can shrink operating costs and scale the business. But first you need to define them.

Digital Transformation 52

Digital Transformation Cost-Benefit Insurance Machine Learning 52

CIO Business Intelligence

MAY 31, 2022

BPM tools provide organizations with a systematic approach to managing and optimizing their business processes by helping organizations design, model, implement, and measure workflows and business rules. Business process management software and tools. BPM vs. RPA.

Enterprise 88

Enterprise Management Interactive Software 88

CIO Business Intelligence

JULY 5, 2023

Two decades ago, as CIO and CTO at Nationwide Insurance, he inspired colleagues to implement what were then referred to as “green initiatives,” such as printing less paper and using more efficient lightbulbs. Think globally, act locally Koushik is putting all this into practice at Rackspace, too.

Data Processing 52

Data Processing Enterprise Measurement Insurance 52

CIO Business Intelligence

SEPTEMBER 11, 2023

Translating the CEO’s strategy Another legacy organization, 105-year-old The Teachers Insurance and Annuity Association of America (TIAA), has “a specific focus on elevating data and digital fluency” across the organization, says Sastry Durvasula, CIO and client services officer. He initiated the creation of a comprehensive operating model.

Digital Transformation 135

Digital Transformation ROI Strategy Technology 135

CIO Business Intelligence

MARCH 7, 2024

Public LLMs in the sandbox: Safely test publicly available Large Language Models (LLMs) in a sandbox environment, separate from the production setting, to assess their impact without risking operational disruptions. Most companies will be very cautious just letting AI run models that replace humans if there’s a risk of AI running amok.

Digital Transformation 72

Digital Transformation Machine Learning Risk Testing 72

Smart Data Collective

JANUARY 26, 2022

Usually, the legal space lacked the data to measure appropriately and report its findings. Improved Insurance Claim Processing. That’s a great challenger for insurance agencies. Deciding how many resources to assign to the processing and investigation of a claim to reduce the total cost of the insurer is not a piece of cake.

Data Analytics 73

Data Analytics Analytics Predictive Analytics Insurance 73

CIO Business Intelligence

JUNE 13, 2023

Once wild and seemingly impossible notions such as large language models, machine learning, and natural language processing have gone from the labs to the front lines. Now some AI architects are eyeing the long-forgotten model of analog computation where values are expressed as voltages or currents.

IT 143

IT Scorecard Software Modeling 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 97

Cost-Benefit Modeling Manufacturing Interactive 97

Cloudera

SEPTEMBER 7, 2023

With the emergence of new creative AI algorithms like large language models (LLM) fromOpenAI’s ChatGPT, Google’s Bard, Meta’s LLaMa, and Bloomberg’s BloombergGPT—awareness, interest and adoption of AI use cases across industries is at an all time high. But these measures alone may not be sufficient to protect proprietary information.

Insurance 81

Insurance Risk Data-driven Finance 81

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 296

Consulting Risk Cost-Benefit Modeling 296

Smart Data Collective

JULY 3, 2023

The National Association of Insurance Commissioners that there will be about 3.5 As major automotive manufacturers like BMW and Vauxhall introduce exciting new electric models like the BMW IX1 and Vauxhall Mokka E, the focus has shifted to integrating advanced software and algorithms to enhance their capabilities.

Software 74

Software Manufacturing Recreation/Entertainment Data-driven 74

Smart Data Collective

NOVEMBER 9, 2021

Anything that impairs the driver’s ability to safely operate a vehicle is considered distracted driving, but personal cell phone use is considered the most dangerous and prevalent practice by both the NHTSA and major auto insurance carriers such as GEICO.

Big Data 132

Big Data Manufacturing Risk Insurance 132

CIO Business Intelligence

MAY 16, 2023

The industries these decision-makers represented include insurance, banking, healthcare and life sciences, government, entertainment, and energy in the U.S. AI Opportunities Generative AI is the basis for sophisticated AI models such as ChatGPT and Dall-E. and tokenization.

Advertising 99

Advertising Recreation/Entertainment Experimentation Enterprise 99

CIO Business Intelligence

OCTOBER 18, 2023

Of roughly 2,500 CIOs surveyed recently by Gartner, 9% say they have already deployed gen AI applications, and a staggering 55% say they will deploy large language models (LLMs) in production by the end of 2025. Snap, LexisNexis, and Lonely Planet are also developing and training LLM models, each leveraging their own data stored on AWS. “We

Risk 140

Risk Manufacturing Enterprise Technology 140

Smart Data Collective

MARCH 23, 2022

Spotting fraud insurance: data mining can be used to identify lost money from fraudulent activities and develops a set of rules to help identify fraudulent claims in the future. Use the 5Ps model (People, Product, Promotion, Price, Place). Let’s dive further into the 5Ps model: People.

Data mining 121

Data mining Marketing Insurance Data Collection 121

DataRobot

AUGUST 9, 2021

However, many organizations don’t implement any feedback loop to monitor and control their models after they’re out in production. General Data Protection Regulation, California Consumer Privacy Act, SR 11-7 Guidance on Model Risk Management, etc). DataRobot MLOps solution is ideal in this journey of fairness and trustworthy AI.

Machine Learning 52

Machine Learning Risk Testing Insurance 52

FineReport

JULY 21, 2021

Performance is measure by a set of KPIs. Based on business data, BI visualizes business problems through graphics and models. Insurance Dashboard(by FineReport). Enterprise business intelligence collects these metrics data and displays them in a real-time manner. Enterprise BI Performance Monitoring (by FineReport).

Business Intelligence 98

Business Intelligence Enterprise Dashboards Sales 98

John Wheeler

OCTOBER 20, 2020

banking, insurance and securities) measure risk on a quantitative basis. Other quantitative analysis methods are used to develop more precise predictive models to determine the potential for digital risk events, such as product/service liability, fraud or theft.

Risk Management 52

Risk Management Risk Predictive Modeling Insurance 52

Smart Data Collective

JANUARY 12, 2022

Personal loans, business loans, credit cards, and insurance premiums all have a dependence on your credit score. There’s more than one model that can be utilized to assess your score, but total credit usage, balances, and available credit are the most influential aspects. Your credit score. High-interest debt.

Data Analytics 117

Data Analytics Analytics Finance Data mining 117

Smart Data Collective

SEPTEMBER 28, 2022

For example, the Health Insurance Portability and Accountability Act (HIPAA) requires that all healthcare providers protect patient information by using security measures to prevent unauthorized access. Data management also helps your business comply with laws that protect consumer and employee rights. Conclusion.

Big Data 106

Big Data Management Data Quality Cost-Benefit 106

DataRobot

JUNE 1, 2021

Before you put a model into production, you may first need to clear compliance hurdles. Industries such as banking and credit, insurance, healthcare and biomedicine, hiring and employment, and housing are often tightly regulated. Typically, these areas require the most attention: model development, implementation, and use.

Uncertainty 52

Uncertainty Machine Learning Advertising Risk 52

Rita Sallam

APRIL 2, 2023

For the vendors that participate in the Bake-Off and Show Floor Showdowns, it is in equal measure fun and extremely stressful. Dataiku Dataiku chose to focus on flood risk by geography and flooding’s economic impact on commercial insurance policies and claims. Based on these estimators, SAS created an easy to use what-if dashboard.

Optimization 52

Optimization Machine Learning Insurance Risk 52