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Using Technology to Better Manage Risk 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 article – Technology May be the Answer for Insurers, but What Was the Question? , Insurers can also manage risk more effectively through continuous improvement.

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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. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. The twenty-first century offers a lot of exciting innovations when it comes to data processing and analytics.

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Using Technology to Add Value in Insurance

Decision Management Solutions

Matt Josefowticz wrote a great piece recently – Technology May be the Answer for Insurers, but What Was the Question? In this he argues that there are only three levers of value in insurance: 1. Manage Risk Better (aka underwriting and adjusting). Sell More. Cost Less to Operate. Sure, when that makes sense.

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How Financial Services and Insurance Streamline AI Initiatives with a Hybrid Data Platform

Cloudera

The way to manage this is by embedding data integration, data quality-monitoring, and other capabilities into the data platform itself , allowing financial firms to streamline these processes, and freeing them to focus on operationalizing AI solutions while promoting access to data, maintaining data quality, and ensuring compliance.

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Interview with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity

Corinium

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. I am head of Products here, which comprises of R&D, Product Management and Global Customer support.

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Insurers – Be Aware of the Hidden Exposures in assessing the economic impact of Climate Risk

Cloudera

Climate change is a challenge for insurers in some obvious ways, such as stronger and more frequent natural disasters. Yet there are also more subtle risks to monitor, including changes to insured assets, risks, and exposures. These kinds of nuanced risk assessments require comprehensive solutions.

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FRTB: Will 2023 Finally be the Year?

Cloudera

From a data management point of view, FRTB’s requirements will require greatly increased quantities of historical data, along with an increased need for analysis and intensive computation against this data. . In order to support a transition at this scale, banks will need to establish internal team alignment first.

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