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. In addition, they faced an onslaught of claims and initial uncertainty about cost and payments for antibody testing, evolving treatments, and, later, vaccines.

Insurance 52

Insurance Technology Management Cost-Benefit 52

Decision Management Solutions

MARCH 25, 2019

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in. 2 – Attracting talent.

Insurance 75

Insurance Data Science Testing Modeling 75

Decision Management Solutions

APRIL 23, 2019

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.

Insurance 69

Insurance Risk Technology Management 69

DataKitchen

OCTOBER 20, 2023

In this article, we explore the role of Payload DJs in addressing these complexities, illustrated with examples from industries like drug discovery and insurance. Payload DJs facilitate capturing metadata, lineage, and test results at each phase, enhancing tracking efficiency and reducing the risk of data loss.

Insurance 176

Insurance Metadata Data-driven Data Quality 176

Cloudera

OCTOBER 21, 2020

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

Insurance 71

Insurance Digital Transformation Unstructured Data Cost-Benefit 71

CIO Business Intelligence

MARCH 18, 2024

Digital operational resilience testing : Sets out guidance for testing of existing recovery strategies to identify potential vulnerabilities. DORA puts a heavy focus on financial organizations in the EU – from banks to insurance companies – but those are not the only businesses that will need to adhere to the policy.

Risk Management 120

Risk Management Insurance Risk Testing 120

CIO Business Intelligence

APRIL 23, 2024

To stay out of harm’s way, charter a few harmless initiatives — ones that aren’t likely to succeed, will pass the cool test if, in the off chance, they do happen to succeed, but won’t do much damage if they fail. Insurance: You know how this plays out.

Risk 116

Risk IT Insurance Risk Management 116

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

Corinium

JUNE 6, 2019

I am the Chief Practice Officer for Insurance, Healthcare, and Hi-Tech verticals at Fractal. The Insurance practice is currently engaged with several top 10 P&C insurers in the US, across the Insurance value chain through AI, Engineering, Design & Behavioural Sciences programs.

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

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

CIO Business Intelligence

NOVEMBER 22, 2023

As a connected car data company focusing on the motor insurance sector, UK-based ThingCo is dedicated to developing next gen telematics built with the latest technology. Then suddenly they’re testing out new features for us and coming up with ideas. Insurance is a difficult one, though, because it’s a regulated market.

Insurance 105

Insurance B2B Modeling Technology 105

CIO Business Intelligence

OCTOBER 18, 2023

Dutch insurance and asset management company Nationale-Nederlanden, part of the NN Group, has a presence in 19 countries and serves several million retail and corporate customers. The context tests us and it’s necessary to reinvent ourselves every day.”

Digital Transformation 128

Digital Transformation Insurance Interactive Sales 128

CIO Business Intelligence

JUNE 17, 2022

Put your knowledge to the test. Sourabh Chatterjee, president and head of technology, digital sales, and travel at Bajaj Allianz General Insurance, says, “At the end of the day, it is the content, faculty, and case studies of a course that cumulatively open the mind. I take hands-on responsibility of a particular aspect of a project.

Insurance 122

Insurance IT Advertising Data Science 122

CIO Business Intelligence

JUNE 22, 2023

Aerospace and defense It likely comes as no surprise that there’s a high demand for engineers in the aerospace and defense industry including avionics, systems, AI, software, network, quality assurance, robotics, radio frequency (RF), simulation, flight test, and manufacturing engineers. Average salary: US$115,940 Increase since 2021: +6.8%

IT 122

IT Insurance Recreation/Entertainment Consulting 122

Domino Data Lab

JANUARY 18, 2023

Stakes are now higher than ever for AI, and model-driven businesses must be careful to test and confirm the safety and fairness of technology touching nearly everyone’s life. How can stakeholders do this while simultaneously pressing business initiatives as quickly as possible?

Insurance 52

Insurance Data-driven Data Science Testing 52

Smarten

JUNE 26, 2018

This article describes chi square test of association and hypothesis testing. What is the Chi Square Test of Association Method of Hypothesis Testing? Let’s conduct the Chi square test of independence using two variables: Gender and Product category. Use Case – 1. About Smarten.

Testing 40

Testing Statistics IT Business Intelligence 40

CIO Business Intelligence

MARCH 13, 2024

We did side-by-side testing,” he says. In testing, gen AI was also particularly good at generating test cases and creating dummy data for testing. We got 600 people together to test gen AI in a sandbox to try different use cases in 54 different categories.”

IT 128

IT Consulting Testing Cost-Benefit 128

Smart Data Collective

MAY 10, 2022

Backtesting refers to testing trading models based on historical data. 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 109

Marketing Technology Insurance Machine Learning 109

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. Pandemic “Pressure” Testing. Area such as: .

Risk 96

Risk Optimization Management Insurance 96

CIO Business Intelligence

DECEMBER 11, 2023

We promote innovation through regulatory sandboxes, real-world testing and open sources [excluding open source AI systems from transparency requirement]. This is also a requirement for the AI systems for the insurance and banking sectors. “It is a myth that the AI Act will hamper innovation. This is just not true.

Risk 127

Risk Testing Insurance Cost-Benefit 127

CIO Business Intelligence

JUNE 7, 2022

Prescriptive analytics is a type of advanced analytics that involves the application of testing and other techniques to recommend specific solutions that will deliver desired outcomes. Analytics has helped the company reduce the testing time for any given new material from 10 days to about two hours.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

CIO Business Intelligence

MARCH 12, 2024

Even if these events don’t occur, what kinds of premiums are you likely to pay your corporate and cyber-liability insurers when they read your latest audit reports and see you haven’t updated your disaster recovery plan or invested in hardening your network security for over two years? The average cost of a data breach is $4.64

ROI 122

ROI IT Manufacturing Metrics 122

IBM Big Data Hub

JANUARY 18, 2024

Run fast messaging tests You can conduct A/B tests on your chatbots to identify the most effective messaging. Insurance Your customers seek real-time, personalized and accurate responses whether they’re requesting quotes , filing an insurance claim or making payments.

Cost-Benefit 101

Cost-Benefit Interactive Sales Insurance 101

IBM Big Data Hub

APRIL 10, 2024

Organizations need full flexibility to address important questions, including: How soon can you test your hypothesis (such as how many geographies or which user personas)? Improved speed and agility: The world is changing rapidly and technology is the biggest enabler for this change.

Cost-Benefit 103

Cost-Benefit Software Risk Marketing 103

CIO Business Intelligence

JULY 13, 2022

Rather than wait for a compliance mandate, it is critical for insurers and financial services providers of all kinds to consider—and prepare now—for the implications. Insurers and financial services firms are very practiced in the requirements related to redundancy and disaster recovery. Insight Enterprises.

Insurance 98

Insurance Risk Marketing Data Processing 98

CIO Business Intelligence

MAY 11, 2022

Implement more disciplined validation and testing. A more disciplined methodology to validation and testing is essential to sidestepping shortfalls in meeting business expectations. Testing and validation that back up technology assertions depended upon by stakeholders are elemental. Collaboration is an all-way street.

Management 98

Management Testing Insurance Finance 98

Cloudera

DECEMBER 11, 2020

Insurance and finance are two industries that rely on measuring risk with historical data models. Insurance . In “ Re-thinking The Insurance Industry In Real-Time To Cope With Pandemic-scale Disruption,” Monique Hesseling describes how COVID-19 is transforming the insurance industry. Data Variety.

Insurance 91

Insurance Digital Transformation Unstructured Data Machine Learning 91

Smart Data Collective

MARCH 7, 2021

After educating the employees about cybersecurity & cyberattacks, your job is to test how they fare. Cybersecurity Insurance. Cybersecurity insurance can help you tremendously. It’s the same as traditional insurances. Therefore, being covered by cybersecurity insurance can aid you during these times.

Big Data 125

Big Data Insurance Data Processing Software 125

IBM Big Data Hub

SEPTEMBER 28, 2023

Based on initial IBM Research evaluations and testing , across 11 different financial tasks, the results show that by training Granite-13B models with high-quality finance data, they are some of the top performing models on finance tasks, and have the potential to achieve either similar or even better performance than much larger models.

Testing 97

Testing Finance Enterprise Modeling 97

AWS Big Data

JANUARY 30, 2023

We examine a hypothetical insurance organization that issues commercial policies to small- and medium-scale businesses. The insurance prices vary based on several criteria, such as where the business is located, business type, earthquake or flood coverage, and so on. getOrCreate() #Define the table schema schema = StructType().add("policy_id",IntegerType(),True).add("expiry_date",DateType(),True).add("location_name",StringType(),True).add("state_code",StringType(),True).add("region

Insurance 75

Insurance Data Lake Data-driven Management 75

IBM Big Data Hub

OCTOBER 2, 2023

Ovum Health’s platform provides medical software, clinical decision support, advanced lab testing and analytics to deliver a personalized approach to a healthy pregnancy.

Insurance 97

Insurance ROI Interactive Testing 97

CIO Business Intelligence

APRIL 5, 2024

Senate Bill 1047 , introduced in the California State Legislature in February, would require safety testing of AI products before they’re released, and would require AI developers to prevent others from creating derivative models of their products that are used to cause critical harms.

Risk 132

Risk Interactive Insurance Strategy 132

CIO Business Intelligence

JUNE 13, 2022

Today, most banks, insurance companies, and other kinds of financial services firms have deployed natural language processing (NLP) tools to address some of their customer service needs. The very best conversational AI systems come close to passing the Turing test , that is, they are very difficult to distinguish from a human being. .

Data Processing 105

Data Processing Deep Learning Insurance Cost-Benefit 105

CIO Business Intelligence

FEBRUARY 23, 2024

We are designing our AI efforts to really augment the human creativity and productivity,” he says, noting that the company’s pilot testing has shown significant productivity gains in document and data summarization as well as churning out data insights faster. “We have embraced the human-in-the-loop concept.

IT 122

IT Manufacturing Unstructured Data Strategy 122

IBM Big Data Hub

FEBRUARY 13, 2024

Healthcare, insurance and education are more hesitant due to the legal and compliance efforts to which they must adhere—and the lack of insight, transparency and regulation in generative AI. With readily available synthetic data sets, companies can rapidly iterate on AI models, test new features and bring solutions to market faster.

Enterprise 129

Enterprise Modeling Testing Data-driven 129

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. The approach offered lower risks and allowed for comprehensive platform and application testing.

Data-driven 76

Data-driven Analytics Insurance Digital Transformation 76

Cloudera

JUNE 22, 2022

Rather than wait for a compliance mandate, it is critical for insurers and financial services providers of all kinds to consider — and prepare now — for the implications. Insurers and financial services firms are very practiced in the requirements related to redundancy and disaster recovery.

Insurance 82

Insurance Risk Marketing Data Processing 82