CIO Business Intelligence

MAY 17, 2023

While formulating their IT modernization strategies, they’d do well to regard data assets with business opportunities in mind. An older bank, grown through acquisition, with one custom-built system supporting its real estate business, while another supports its insurance business.

Data-driven 93

Data-driven Strategy IT Insurance 93

IBM Big Data Hub

DECEMBER 8, 2023

The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events. Building a strong risk mitigation strategy can set up an organization to have a strong response in the face of risk.

Risk 75

Risk Strategy Risk Management Insurance 75

Cloudera

FEBRUARY 18, 2021

We’ve written about the changes forced on the traditionally risk-averse insurance industry by COVID-19. In 2021, with the crisis hopefully fading, insurance will have time to evaluate the changes made in 2020, assessing what worked and what didn’t, and planning a new way forward rather than reacting in real time. .

Insurance 105

Insurance Digital Transformation Risk Data-driven 105

CIO Business Intelligence

NOVEMBER 2, 2023

To be sure, enterprise cloud budgets continue to increase, with IT decision-makers reporting that 31% of their overall technology budget will go toward cloud computing and two-thirds expecting their cloud budget to increase in the next 12 months, according to the Foundry Cloud Computing Study 2023. 1 barrier to moving forward in the cloud.

Strategy 131

Strategy Data Processing Experimentation Optimization 131

bridgei2i

JANUARY 18, 2021

Case study: Subrogation Prediction Using Machine Learning for Property Insurance. The client, a leading P&C insurer, wanted to identify property damage claims that have the potential for subrogation & recovery. They also wanted to generate automated referral reports on a weekly basis for further investigation.

Insurance 52

Insurance Machine Learning Enterprise Strategy 52

bridgei2i

APRIL 16, 2020

Insurance firm Swiss Re faced a $250m (approximately £215m) loss if the event was canceled instead of being delayed. This is just a tip of the iceberg of the massive losses the Insurance sector is staring at due to COVID-19’s onset. The insurance industry —which, in the US alone, accounts for $1.2

Insurance 71

Insurance Sales Digital Transformation Machine Learning 71

CIO Business Intelligence

APRIL 12, 2022

When the COVID-19 pandemic hit, it shook every industry to the core, but especially and dramatically affected health insurers. Deluged with calls and questions about rapidly changing health guidelines and coverage, insurers had to quickly revamp their systems to provide updated information.

Insurance 52

Insurance Technology Management Cost-Benefit 52

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. The result, Jeevanjee says, is a technology-driven business strategy “that’s a very empowering thing.” Allstate expects to be up and running in 10 states this year for automobile policies and 19 states for rental insurance. “We

Digital Transformation 136

Digital Transformation Insurance Recreation/Entertainment Machine Learning 136

Smart Data Collective

NOVEMBER 1, 2022

In addition, even an insurance agency must ensure that the taxes are paid before the deadline to avoid penalties from government agencies. Availing of all the tax deductions is also necessary, and professional insurance accounting services can help you in this regard. Plan for Tax Season Before it Gets Started.

Strategy 85

Strategy Insurance Software Reporting 85

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

CIO Business Intelligence

MARCH 18, 2024

Reporting of major ICT-related incidents : Regulation defines how organizations will need to classify and report ICT-related security incidents moving forward. Digital operational resilience testing : Sets out guidance for testing of existing recovery strategies to identify potential vulnerabilities.

Risk Management 104

Risk Management Insurance Risk Testing 104

Occam's Razor

JANUARY 4, 2021

Like you, I consume a whole lot of reports every day – company data, public data. Just yesterday I was quietly seething because none of visuals included in the report contained any context to understand if the performance I was looking at was good or bad. Even if the report has hidden gold. Sometimes repeatedly.

Reporting 113

Reporting Analytics Metrics Visualization 113

Decision Management Solutions

SEPTEMBER 5, 2019

McKinsey recently reported that “Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade” and that “The insurance industry is facing a serious structural challenge … the majority of carriers are not making their cost of capital.”

Insurance 40

Insurance Machine Learning Marketing Management 40

CIO Business Intelligence

FEBRUARY 20, 2024

Sensitive personal and medical information can be used in multiple ways, from identity theft and insurance fraud to ransomware attacks. Are you ready to put AI at the heart of your data protection strategy? Patient data represents a treasure trove for hackers. Take a Security Copilot readiness assessment today. Generative AI

Risk 102

Risk Insurance Measurement Strategy 102

CIO Business Intelligence

MARCH 12, 2024

And 2024 looks to be that kind of year, with John-David Lovelock, distinguished VP analyst, reporting that “IT spending will be driven by more traditional forces, such as profitability, labor, and dragged down by a continued wave of change fatigue.” Here are three strategies for getting it done. The average cost of a data breach is $4.64

ROI 122

ROI IT Manufacturing Metrics 122

Jet Global

JANUARY 8, 2021

These operations KPIs help management identify which operational strategies are effective, and those that inhibit the company. Whitepaper: How to Compare Reporting & BI Solutions. How an Operations Dashboard Can Streamline Your Reporting. Why Your Company Should Be Using Operational Metrics to Stay Competitive. Download Now.

Metrics 131

Metrics Manufacturing Reporting KPI 131

CIO Business Intelligence

JUNE 22, 2023

Here are the 10 industries with the highest tech salaries, and how much they’ve increased in value since 2021, according to the 2023 Dice Tech Salary Report. Consulting firms are increasingly turning to tech talent to help build in-house platforms, according to the report from Dice. Average salary: US$131,995 Increase since 2021: 0% 2.

IT 120

IT Insurance Recreation/Entertainment Consulting 120

Smarten

FEBRUARY 15, 2024

with 550 employees, Reliance Nippon Life Insurance with more than 11,500 employees, and many other businesses. This mobile access allows users to continue making progress on projects, and to analyze and assess issues to develop recommendations and strategies, no matter where they are working.

Finance 52

Finance Sales Insurance Reporting 52

CIO Business Intelligence

JULY 27, 2023

With the ability to instantaneously ingest reams of data using large language models (LLMs), generative AI technologies such as OpenAI’s ChatGPT and Google’s Bard can produce reports, contracts, and application code far surpassing earlier technologies in speed, accuracy, and thoroughness. Other CIOs have adopted similar strategies.

IT 91

IT Insurance Strategy Risk 91

IBM Big Data Hub

NOVEMBER 20, 2023

The “ Cloud Transformation Report ,” a new global survey from the IBM Institute for Business Value (IBV), found that many leading enterprises share a common foundation to digital transformation—a clear hybrid cloud strategy.¹ With the rise of generative AI comes an influx of data.

Digital Transformation 93

Digital Transformation Insurance Enterprise Data-driven 93

CIO Business Intelligence

APRIL 20, 2023

Food and water insecurity will increase, and energy systems, housing stock, insurance, and currency markets will all become more volatile—a worrying set of scenarios for business leaders and boards. CIOs in organizations already with ESG maturity adopt data management, ESG reporting, and risk tools.

Consulting 93

Consulting Cost-Benefit Insurance Finance 93

CIO Business Intelligence

FEBRUARY 13, 2023

At the same time, they are defunding technologies that no longer contribute to business strategy or growth. Fifty-two percent of organizations plan to increase or maintain their IT spending this year, according to Enterprise Strategy Group. This should secure our business strategy for the next five years and longer.”

IT 145

IT Insurance Machine Learning Marketing 145

IBM Big Data Hub

MARCH 27, 2024

Substantial repair costs might arise, particularly impacting insurance companies. To best prepare, organizations need to develop a climate risk strategy. Discover how to create a climate risk adaptation strategy The post Turning climate risks into business opportunities appeared first on IBM Blog.

Risk 68

Risk Forecasting Insurance Strategy 68

Jet Global

OCTOBER 5, 2021

5 Things Not to do When Choosing a Financial Reporting Tool. OPEX include the cost for equipment, inventory, payroll, insurance, lease, and any other costs associated with running a pharmacy. And if you outsource your reporting to bypass this problem, it could be costly. How to Compare Reporting & BI Solutions.

Metrics 52

Metrics Reporting KPI Measurement 52

CIO Business Intelligence

OCTOBER 17, 2022

CIO Steve Zerby not only has a seat at the table, but he’s driving business strategy at the manufacturing company thanks to his panoptic view of the centralized yet global organization. They’re able to see the technologies, processes, and people “moving in different directions, the strategies involved, and how they fit together.

Insurance 139

Insurance Strategy Technology Manufacturing 139

CIO Business Intelligence

MARCH 22, 2022

He has assisted the top management in planning IT strategies and leveraging technologies for rationalizing manpower, enhancing organizational productivity, and improving the efficiency of operations. He brings expertise in developing IT strategy, digital transformation, AI engineering, process optimization and operations.

Internet Publishing and Broadcasting 98

Internet Publishing and Broadcasting Digital Transformation Insurance Recreation/Entertainment 98

Smart Data Collective

JULY 8, 2021

However, they should not be passive about waiting for their bank, insurance company or other financial institution to advise them about new technology that can assist them. This will help you identify mistakes on your credit report or insurance accounts, which could be costing you higher interest rates or premiums.

Machine Learning 143

Machine Learning Management Finance Cost-Benefit 143

IBM Big Data Hub

FEBRUARY 15, 2024

Heavy rain and tropical storms: Climate change alters precipitation patterns, with NASA reporting more frequent periods of excess precipitation. Meanwhile, insurance companies are increasingly declining to provide property insurance in areas vulnerable to extreme weather, leaving homeowners there at greater financial risk.

Insurance 67

Insurance Risk Strategy Risk Management 67

IBM Big Data Hub

AUGUST 2, 2023

Artificial intelligence (AI) can automate repetitive and time-consuming tasks, allowing HR professionals to focus on other strategies. Furthermore, conversational AI platforms suggest strategies and solutions to improve employees’ work lives. How can chatbots improve the employee experience and automate complex HR processes?

Insurance 67

Insurance Machine Learning Data-driven Strategy 67

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 90

Unstructured Data Deep Learning Insurance Interactive 90

CIO Business Intelligence

AUGUST 29, 2023

Just about every communication with investors — e.g., the annual report, investor days, or earnings reports — now includes information about AI. Guru Vasudeva, SVP and CIO of infrastructure and operations at Nationwide Insurance, is a gifted communicator advocating that one has to use the right tool for the right task.

Insurance 101

Insurance Digital Transformation Data Processing Enterprise 101

CIO Business Intelligence

JUNE 28, 2023

Zero Trust adoption is accelerating, with over half of organizations reporting they have adopted Zero Trust Security, according to research independently conducted by leading security research firm Ponemon Institute, sponsored by Hewlett Packard Enterprise. What is Zero Trust Security?

Reporting 87

Reporting Insurance Risk Strategy 87

Octopai

DECEMBER 11, 2022

Insurance companies misvalued or misreported on insurance contracts (which, to be fair, are notoriously hard to compare with precision). An automated data lineage solution gives you accurate data to use in your calculations and in your reporting. Data lineage and insurance data compliance. Enter: BCBS 239!

Insurance 52

Insurance Risk Metadata Reporting 52

IBM Big Data Hub

JANUARY 22, 2024

The photo will expedite the recovery process and help when filing a police report or a possible claim with your insurance company. Notifying authorities Because ransomware is extortion and a crime, you should always report ransomware attacks to law enforcement officials or the FBI.

Consulting 116

Consulting Behavioral Analytics Reporting Insurance 116

CIO Business Intelligence

OCTOBER 9, 2023

But while the report found that growth was important, it was outranked by improving the customer experience and operational excellence. Tech leaders must focus on a business-aligned tech strategy to deliver on the competing mandates, Guarini says. “A That is a tall order for CIOs, who feel the pressure to do it all.

Strategy 136

Strategy Technology Experimentation Testing 136

CIO Business Intelligence

MARCH 25, 2024

It’s helping influence decisions and being part of that group of people making decisions,” says Karen Stine, head of data at insurance firm Willis Towers Watson. Guarini adjusted her strategies based on what resonated with each audience. Stine has also learned that not all strategies are helpful.

IT 127

IT Strategy Management Insurance 127

Smart Data Collective

JULY 26, 2023

Nevertheless, many companies have been reluctant to Harvard Business Review reports that only 30% of businesses have a data strategy. However, companies with data strategies are far more successful than those without. When selecting the software , look for features such as reporting tools and analytics capabilities.

Data-driven 74

Data-driven Management Sales Big Data 74