CIO Business Intelligence

MAY 8, 2024

Process automation and improvement is a perennial CIO agenda item, and the call for business process optimization is only getting louder — especially for those processes directly tied to the bottom line. Now, if the model is drifting away, we get alerted automatically, and we fix it.” In the past, anybody could make a mistake easily.

IT 91

IT Cost-Benefit Insurance Unstructured Data 91

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

Smart Data Collective

MAY 8, 2022

Data Analytics Transforms the Fleet Management Industry’s Customer Service Model. With GPS fleet tracking and superior data analytics capabilities, fleet managers can implement regulations using available data that helps to optimize services. Road safety is maintained, and insurance payments for damaged vehicles can be avoided.

Optimization 104

Optimization Data Analytics Management Analytics 104

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. based insurer has rebuilt its core application for claims processing, sales, and support, and plans to overhaul its entire portfolio of business processes, all with the aim to enhance and accelerate the customer experience.

Digital Transformation 135

Digital Transformation Insurance Recreation/Entertainment Machine Learning 135

bridgei2i

JUNE 23, 2021

6 Ways AI Is Taking The Insurance Industry Into The Future. For example, the insurance industry is witnessing a strong acceleration in the adoption and growth of AI for task automation, improvement of service quality, and data-driven decision making. Insurance is a resource-intensive field. Claim Handling. Fraud Detection.

Insurance 52

Insurance Risk Deep Learning Data-driven 52

bridgei2i

OCTOBER 7, 2020

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

Rita Sallam

APRIL 2, 2023

Are there mitigation strategies that show reasons for optimism? Are there mitigation strategies that can be implemented successfully that could provide policy guidance and reasons for optimism in the face of ever increasing frequency of extreme weather events?

Optimization 52

Optimization Machine Learning Insurance Risk 52

Rita Sallam

JUNE 2, 2023

Are there mitigation strategies that show reasons for optimism? Are there mitigation strategies that can be implemented successfully that could provide policy guidance and reasons for optimism in the face of ever increasing frequency of extreme weather events?

Optimization 52

Optimization Insurance Machine Learning Risk 52

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. Sometimes you have to suboptimize individual parts to optimize the whole and that changes how you work with your peers and how you challenge each other.”

IT 121

IT Insurance Digital Transformation Technology 121

IBM Big Data Hub

FEBRUARY 14, 2024

Other uses include Netflix offering viewing recommendations powered by models that process data sets collected from viewing history; LinkedIn uses ML to filter items in a newsfeed, making employment recommendations and suggestions on who to connect with; and Spotify uses ML models to generate its song recommendations.

Cost-Benefit 88

Cost-Benefit Insurance Unstructured Data Machine Learning 88

Smart Data Collective

MAY 10, 2022

If the AI model detects any, it can flag them for further investigation or automatically halt them. You can train a machine learning model for fraud detection by feeding it with many transactions and assigning them to “fraud” or “non-fraud” categories. Customer Support.

Marketing 110

Marketing Technology Insurance Machine Learning 110

IBM Big Data Hub

FEBRUARY 13, 2024

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. Autoregressive models or large language models (LLMs) are used for text and language.

Enterprise 125

Enterprise Modeling Testing Data-driven 125

CIO Business Intelligence

SEPTEMBER 13, 2022

Salem Five ended up banking on Infinidat for its storage because InfiniBox is an extremely reliable platform that self-optimizes performance. Furthermore, Infinidat provided Salem Five with a cloud-like flexible consumption model. Insurance companies also see Infinidat as a storage vendor of choice.

Enterprise 73

Enterprise Insurance Cost-Benefit ROI 73

CIO Business Intelligence

FEBRUARY 13, 2023

In one use case, AR and VR are being used to re-create people’s spines in a model so that surgeons can look at them in advance of surgeries to help them perform better, says Peter Fleischut, group senior vice president and chief information and transformation officer. It’s all about uptime and input.

IT 145

IT Insurance Machine Learning Marketing 145

CIO Business Intelligence

JUNE 16, 2022

BPM tools help organizations create, execute, optimize, and monitor business processes. Its system, called the Transformation Acceleration Platform, is designed to capture all types of workflows, but Arrayworks maintains a particular focus on insurance automation. AuraQuantic. Bonitasoft. IBM Business Process Manager.

Management 108

Management Insurance Software Digital Transformation 108

Cloudera

JUNE 13, 2023

The bank offerings include standard deposit and lending services, credit cards, wealth management, agribusiness finance and insurance, and foreign exchange services for other financial institutions. In 2021, ANZ Bank unveiled its strategy to drive digital transformation, increase their speed to market and become more agile.

Data-driven 76

Data-driven Analytics Insurance Digital Transformation 76

Domino Data Lab

MARCH 11, 2021

Machine learning (ML) frameworks are interfaces that allow data scientists and developers to build and deploy machine learning models faster and easier. Machine learning is used in almost every industry, notably finance , insurance , healthcare , and marketing. Parameter Optimization. TensorFlow runs on both CPUs and GPUs.

Machine Learning 143

Machine Learning Deep Learning Insurance Modeling 143

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 64

Data Strategy Strategy Enterprise Insurance 64

Cloudera

AUGUST 12, 2021

However, the important role data occupies extends beyond customer experience and revenue, as it becomes increasingly central in optimizing internal processes for the long-term growth of an organization. These models are then used for anomaly detection or inferences about what will happen. . Risk Management.

Data-driven 108

Data-driven Manufacturing Insurance Risk Management 108

Ontotext

JANUARY 29, 2024

These will include developing a better understanding of AI, recognizing the role semantic metadata plays in data fabrics, and the rapid acceleration and adoption of knowledge graphs — which will be driven by large language models (LLMs) and the convergence of labeled property graphs (LPGs) and resource description frameworks (RDFs).

Strategy 52

Strategy Management Metadata Data-driven 52

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 95

Cost-Benefit Modeling Manufacturing Interactive 95

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. DL, a subset of ML, excels at understanding context and generating human-like responses. billion by 2030.

Enterprise 105

Enterprise Interactive Data-driven Key Performance Indicator 105

Smart Data Collective

SEPTEMBER 16, 2020

Predictive analytics, sometimes referred to as big data analytics, relies on aspects of data mining as well as algorithms to develop predictive models. These predictive models can be used by enterprise marketers to more effectively develop predictions of future user behaviors based on the sourced historical data. Objectives and Usage.

Predictive Analytics 122

Predictive Analytics Analytics Predictive Modeling Data mining 122

CIO Business Intelligence

APRIL 29, 2022

Many organisations focus too heavily on fine tuning their computational models in their pursuit of ‘quick-wins.’ However, contrary to popular belief, AI success is not about tweaking and recalibrating models, it’s about tweaking data, continually. Once built, the computational models should remain relatively static.

Data Governance 142

Data Governance IT Risk Data Lake 142

CIO Business Intelligence

OCTOBER 30, 2023

“I really do think about the two roles differently,” says Wiedenbeck, senior vice president and chief technology and transformation officer (CTTO) for the financial services and insurance company. “I The automation Ameritas needs to drive optimization towards the future state may be less than perfect,” he admits. “It

Digital Transformation 136

Digital Transformation Strategy Technology Enterprise 136

CIO Business Intelligence

MARCH 26, 2024

In addition to AI and machine learning, data science, cybersecurity, and other hard-to-find skills , IT leaders are also looking for outside help to accelerate the adoption of DevOps or product-/program-based operating models. Select the right partnership model. Last June, for example, Dun & Bradstreet launched D&B.AI

Recreation/Entertainment 117

Recreation/Entertainment Consulting Metrics Enterprise 117

Smart Data Collective

JUNE 30, 2022

Smart companies realize that analytics technology needs to be at the core of their business models. More companies are using data analytics to optimize their business models in creative ways. Optimized inventory management. Analytics Technology Helps Companies Bolster their Logistics Strategies.

Analytics 111

Analytics Cost-Benefit Analytics Technologies Big Data 111

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

CIO Business Intelligence

NOVEMBER 2, 2023

“Awareness of FinOps practices and the maturity of software that can automate cloud optimization activities have helped enterprises get a better understanding of key cost drivers,” McCarthy says, referring to the practice of blending finance and cloud operations to optimize cloud spend. It depends on what business model you’re in.

Strategy 124

Strategy Data Processing Experimentation Optimization 124

Smarten

MAY 17, 2019

Assisted predictive modeling and advanced analytics incorporates data from social media, email marketing campaigns, Google analytics, apps and web sites, ecommerce channels, sales data and more to analyze products, pricing, customer geography, preferences, demographics and other data. Marketing Optimization. Customer Targeting.

Predictive Analytics 51

Predictive Analytics Marketing Analytics Predictive Modeling 51

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 95

Cost-Benefit Interactive Sales Insurance 95

CIO Business Intelligence

MAY 1, 2023

Recent evidence suggests that repatriation is just one aspect of a larger trend towards rationalizing and optimizing workloads across various IT environments. As a result, organizations are rethinking their workload distribution in public clouds for a variety of reasons, including performance, cost optimization, and security.

Cost-Benefit 52

Cost-Benefit Insurance Optimization Management 52

CIO Business Intelligence

MAY 31, 2022

As a result, many companies are hampered by their processes, and will continue to be so until those processes are optimized. 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.

Enterprise 75

Enterprise Management Interactive Software 75

Cloudera

JANUARY 5, 2023

Faced with even more pressure to remain resilient and agile amid looming global economic threats, Asia-Pacific (APAC) region businesses are looking to further mobilize emerging technologies such as artificial intelligence (AI) and machine learning that will optimize operational efficiencies and cost savings. .

Cost-Benefit 52

Cost-Benefit Business Objectives Machine Learning Data Architecture 52

Cloudera

FEBRUARY 4, 2021

Financial services institutions need the ability to analyze and act on massive volumes of data from diverse sources in order to monitor, model, and manage risk across the enterprise. They need a comprehensive data and analytics platform to model risk exposures on-demand. Risk management and models in a COVID-19 world.

Risk 86

Risk Marketing Technology Management 86

CIO Business Intelligence

JUNE 7, 2022

billion in cost savings for the insurance industry as well during the same period. . For banks, brokerages, insurance companies, fintech firms, and other financial services organizations, NLP is increasingly being seen as a solution to too much data and too few employees. The same study estimated that chatbots would lead to $1.3

Unstructured Data 83

Unstructured Data Deep Learning Insurance Interactive 83

IBM Big Data Hub

JULY 28, 2023

Our flagship data integration platform, DATA ONE , is designed to federate different technologies, platforms, data types and deployment models, with an intuitive user experience. Nodes are grouped together in homogeneous clusters, but different clusters can be optimized for different types of workloads.

Data Integration 60

Data Integration Optimization Software Insurance 60