Smart Data Collective

JUNE 3, 2021

The insurance industry is among those that has found new opportunities to take advantage of machine learning technology. Life insurance companies in particular are discovering the wondrous opportunities that AI provides, since this sector faces some unique challenges relative to other insurance offerings.

Insurance 97

Insurance Machine Learning Cost-Benefit Risk 97

Smart Data Collective

JANUARY 19, 2023

Reasons for Cost Optimization Cost optimization is an important part of any organization’s DevOps strategy. By optimizing costs, organizations can maximize their profits and keep up with the ever-changing business landscape. But what are some of the reasons why DevOps teams should consider cost optimization?

Optimization 111

Optimization Cost-Benefit Software Measurement 111

Cloudera

OCTOBER 28, 2021

I’ve had the pleasure to participate in a few Commercial Lines insurance industry events recently and as a prior Commercial Lines insurer myself, I am thrilled with the progress the industry is making using data and analytics. Another historic example is crop and livestock insurance in Germany in the 1700s.

Insurance 95

Insurance Risk Unstructured Data Data-driven 95

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. Now, risk management has become exponentially complicated in multiple dimensions. .

Risk 97

Risk Optimization Management Insurance 97

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

Octopai

APRIL 18, 2022

Regulatory standards for the insurance industry are almost as old as the insurance industry itself. Insurance in the ancient world tended to revolve around merchants shipping cargo. Insurance for your personal valuables, your pets or your fantasy football players was a thing of the future. . Let’s see how.

Insurance 52

Insurance Risk Cost-Benefit Reporting 52

bridgei2i

NOVEMBER 25, 2020

Automated Sales & Underwriting Strategies can Transform Insurance. One of the major repercussions of the COVID-19 pandemic in financial sectors has been the increase in awareness about insurable risks across categories and markets. Images 1: Challenges before insurance industry in the post-Corona world.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

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

Smart Data Collective

MAY 8, 2022

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. Dispatching the Closest Vehicles.

Optimization 100

Optimization Data Analytics Management Analytics 100

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

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

Smart Data Collective

AUGUST 11, 2022

Insurance companies are using data analytics to improve their actuarial processes. The post Using Data Analytics to Optimize Your Cash Collection Approach appeared first on SmartData Collective. Companies are projected to spend nearly $12 billion on financial analytics services by 2028.

Data Analytics 113

Data Analytics Optimization Analytics Cost-Benefit 113

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? Policymakers can then consider mitigating actions in advance.

Optimization 52

Optimization Insurance Machine Learning Risk 52

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 136

Digital Transformation Insurance Recreation/Entertainment Machine Learning 136

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

CIO Business Intelligence

JANUARY 3, 2024

AI can help optimize processes in many different ways, for example: customers’ speech and text into different languages, dialects, or accents. They have created a joint solution that combines Amazon Connect with additional features from IBM Consulting to optimize and personalize customer communication.

B2B 125

B2B Insurance Consulting Cost-Benefit 125

IBM Big Data Hub

JANUARY 15, 2024

As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co.,

Digital Transformation 75

Digital Transformation Insurance Optimization ROI 75

Smart Data Collective

SEPTEMBER 15, 2019

One of the biggest ways that it is disrupting the industry is by creating new engagement strategies and optimizing relationships. Insure your business. If you want to become successful in the music industry, it’s essential that you insure your business. Big data is having a number of impacts on the industry.

Big Data 78

Big Data Optimization Insurance Predictive Analytics 78

CIO Business Intelligence

JUNE 22, 2023

Consulting In the consulting industry, technology has become an important tool for making decisions, designing solutions, improving processes, and providing insights on optimizing business strategy. And as more insurance companies develop client-facing apps and services, there’s a need for UX/UI designers, developers, and engineers.

IT 121

IT Insurance Recreation/Entertainment Consulting 121

CIO Business Intelligence

JANUARY 29, 2024

In lieu of integrating and customizing off-the-shelf enterprise applications such as Salesforce or SAP, Power Home Remodeling has constructed its own proprietary NITRO platform used to run and optimize all aspects of the business and customer experience.

IT 128

IT Insurance Digital Transformation Technology 128

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

Smart Data Collective

DECEMBER 19, 2022

As soon as the billers receive the necessary information, they prepare a claim for the insurance company. Providers can be billed using codes (the providers can be connected to insurers through the same cloud infrastructure). By doing this, we can determine what procedures and services are covered by the patient’s insurance.

Software 112

Software Technology Insurance Cost-Benefit 112

Dataiku

JULY 6, 2023

Like many organizations, multinational insurance company Aviva has a lot of IT assets, processes, and support teams to manage, and they are always looking for ways to streamline their operations and improve efficiency — and do so at a rapid pace.

Insurance 59

Insurance IT Analytics Optimization 59

IBM Big Data Hub

OCTOBER 30, 2023

IBM and AWS partnership focuses on delivering solutions in areas like: Supply chain optimization with AI-infused Planning Analytics IBM Planning Analytics on AWS offers a powerful platform for supply chain optimization, blending IBM’s analytics expertise with AWS’s cloud capabilities.

Insurance 86

Insurance Data Warehouse Data-driven Unstructured Data 86

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. Insurance companies also see Infinidat as a storage vendor of choice. Clientèle Life Insurance reduced risk by choosing Infinidat as its storage solution provider.

Enterprise 97

Enterprise Insurance Cost-Benefit ROI 97

AWS Big Data

MARCH 14, 2024

VMware Tanzu CloudHealth is the cloud cost management platform of choice for more than 20,000 organizations worldwide, who rely on it to optimize and govern their largest and most complex multi-cloud environments. It also showcased how the chosen setup accelerates data transfer, optimizing both time and resources.

Management 105

Management Insurance Optimization Strategy 105

CIO Business Intelligence

JUNE 17, 2022

Functions such as sales and marketing have all undergone a significant change, as has the technology needed for them to perform optimally. IT leaders should also consider broadening their knowledge of the industry in which they work, says Mayank Bhargava, chief technology and data officer at Pramerica Life Insurance.

Insurance 121

Insurance IT Advertising Data Science 121

IBM Big Data Hub

FEBRUARY 14, 2024

Process automation is often centered on efforts to optimize spend, achieve greater operational efficiency and incorporate new and innovative technologies, which often translate into a better customer experience. This way, they are also able to calculate the risk of an individual or entity and calculate the appropriate insurance rate.

Cost-Benefit 89

Cost-Benefit Insurance Unstructured Data Machine Learning 89

Smart Data Collective

MARCH 29, 2023

From autonomous vehicles to predictive maintenance and optimized production processes, AI is revolutionizing every aspect of the automotive industry. AI can even be used for insurance programs that monitor driver behavior to calculate risks and costs. billion last year , but it is projected to be worth nearly $20 billion by 2030.

Manufacturing 93

Manufacturing Cost-Benefit Machine Learning Optimization 93

CIO Business Intelligence

FEBRUARY 13, 2023

We run factories and help companies run them and optimize them” and AI is used to optimize everything from getting more throughput to better quality to preventative maintenance, productivity, and cost optimization, Nardecchia says. The company is embedding AI into each level of the tech stack it sells to customers, he says. “We

IT 145

IT Insurance Machine Learning Marketing 145

Smart Data Collective

MAY 10, 2022

The analysis helps them execute trades at the most optimal prices. Insurance entails protection against risks no matter how low the probability of them occurring. Individuals and enterprises buy insurance policies, and the regulated firms selling these policies consider risk profiles to determine their prices.

Marketing 106

Marketing Technology Insurance Risk 106

Smart Data Collective

MAY 31, 2019

Whether it is identity authentication, increasing the speed of cross-border payments , supply chain optimization or transportation logistics, blockchain technology has been providing solutions to a variety of industries. move within the insurance and banking chain through documents and forms. in productivity gain. Unlike the U.S.,

Insurance 73

Insurance Risk Marketing Technology 73

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 77

Data-driven Analytics Insurance Digital Transformation 77

CIO Business Intelligence

MARCH 20, 2023

Jassy also wrote that the company would provide severance pay, transitional health insurance and assistance with job placement. As we look ahead, we expect these optimization efforts (reduced spending) will continue to be a headwind to AWS growth in at least the next couple of quarters,” he said. Cloud Computing, Technology Industry

Advertising 98

Advertising Insurance Technology Optimization 98

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

MARCH 22, 2023

Multinational insurance and finance corporation AIA New Zealand’s dream is to help make the country one of the healthiest and best protected nations in the world. As New Zealand’s largest life insurer and leading health insurer, our purpose is to help New Zealanders live longer, healthier lives,” he says.

Insurance 98

Insurance Digital Transformation Technology Finance 98

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.

Management 118

Management Insurance Software Digital Transformation 118