Cloudera

NOVEMBER 4, 2020

Insurance is no different. Insurance is not something the average consumer thinks about every day but when a life changing event happens, insurance becomes extremely important. It is in this “Moment of Truth” that insurers excel or fail. To provide the best price, the insurer needs to better understand their customer.

Insurance 120

Insurance Machine Learning Risk IoT 120

CIO Business Intelligence

DECEMBER 1, 2022

For over 130 years, Hastings Mutual Insurance Company has served and protected its clients throughout the Midwest. In its push to modernize, the regional insurance provider also believed updating its client viewing system to provide a more intuitive, user-friendly experience would benefit its customers and employees alike.

Insurance 111

Insurance Management Cost-Benefit Digital Transformation 111

CIO Business Intelligence

MARCH 16, 2022

Insurance companies are no longer only there for their customers in times of disaster. Modern approaches to insurance and changes in customer expectations mean that the insurance business model looks very different than it used to. For many insurers, this means investing in cloud.

Insurance 105

Insurance Cost-Benefit Data Processing Strategy 105

Smart Data Collective

MARCH 28, 2019

The life insurance industry will soon undergo a dramatic transformation in response to advances in big data. A number of insurance executives have been reluctant to embrace the changes of big data. One study found that 74% of respondents felt that the insurance industry had done an inadequate job addressing the need for big data.

Insurance 84

Insurance Big Data Cost-Benefit Consulting 84

IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.

Insurance 75

Insurance Predictive Modeling Cost-Benefit Statistics 75

datapine

AUGUST 19, 2020

Among other things, they help in improving on-time deliveries, in reducing operating costs, in increasing customer satisfaction, or in optimizing transport. You can calculate it by dividing the costs of goods sold by the average inventory. Carrying cost of inventory. In short, be mindful of your carrying costs.

Metrics 286

Metrics KPI Cost-Benefit Dashboards 286

Smart Data Collective

NOVEMBER 8, 2021

This is a testament to the amazing benefits it provides for companies in all sectors. Of course, in an ideal world, these changes would only benefit you, but as you will likely be aware, that simply isn’t the case. Get the Right Insurance in Place. These include the likes of the costs of marketing and shipping.

Data Analytics 130

Data Analytics Insurance Analytics Cost-Benefit 130

CIO Business Intelligence

MAY 8, 2024

For Expion Health, a cumbersome manual process to determine what rates to quote to potential new customers had become a cap on the healthcare cost management firm’s ability to grow its business. Expion hasn’t yet calculated the potential new business created, but the tool will save the company the cost of about 1.5 data analyst FTEs.

IT 111

IT Insurance Cost-Benefit Unstructured Data 111

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

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 77

Insurance Unstructured Data Digital Transformation Cost-Benefit 77

datapine

MAY 31, 2022

3) Cloud Computing Benefits. It provides better data storage, data security, flexibility, improved organizational visibility, smoother processes, extra data intelligence, increased collaboration between employees, and changes the workflow of small businesses and large enterprises to help them make better decisions while decreasing costs.

Risk 237

Risk Cost-Benefit Business Intelligence Data-driven 237

CIO Business Intelligence

AUGUST 20, 2024

Many AI projects have huge upfront costs — up to $200,000 for coding assistants, $1 million to embed generative AI in custom apps, $6.5 Those costs don’t include recurring costs, which can run into the thousands of dollars per user each year. SMBs are particularly vulnerable to these cost increases.”

Risk 131

Risk Cost-Benefit Insurance ROI 131

datapine

OCTOBER 11, 2023

Keep on reading to learn a definition, benefits, and a warehouse KPI list with the most prominent examples any manager should be tracking to achieve operational success. Now, let’s look at some benefits to keep putting the power of warehouse key performance indicators into perspective. But how do you know which indicators to track?

Metrics 217

Metrics KPI Management Cost-Benefit 217

Smart Data Collective

SEPTEMBER 29, 2022

There are a number of benefits of using it to your company’s advantage. A growing number of companies have leveraged big data to cut costs, improve customer engagement, have better compliance rates and earn solid brand reputations. The benefits of big data cannot be overstated. Using OCR: the benefits for your business.

Data-driven 140

Data-driven Data Quality Optimization Insurance 140

CIO Business Intelligence

FEBRUARY 27, 2023

Italian insurer Reale Group found itself with four cloud providers running around 15% of its workloads, and no clear strategy to manage them. “It But now that the immediate necessity of the switch to remote operations and remote management has passed, enterprises are seeking other benefits as they build their multicloud environments.

Cost-Benefit 143

Cost-Benefit Insurance Enterprise Optimization 143

Smart Data Collective

MAY 3, 2021

2 Saves time and cost with machine learning. It also saves cost as they need not promise you with legal requirements of insurance coverage, paid vacations, or investing in excess worker capacity. New cost-structure models use complex machine learning algorithms to improve efficiency. #3 are your thoughts?

Big Data 129

Big Data Data mining Cost-Benefit Insurance 129

Smart Data Collective

DECEMBER 19, 2022

Cloud computing offers a number of important benefits for healthcare providers. What Are the Benefits of Cloud-Based Medical Billing Technology? As soon as the billers receive the necessary information, they prepare a claim for the insurance company. The benefits of cloud computing for medical billing cannot be overstated.

Software 125

Software Technology Insurance Cost-Benefit 125

Smart Data Collective

JULY 8, 2021

Intuitively, this also means that consumers stand to benefit from advances in artificial intelligence as well. 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.

Machine Learning 143

Machine Learning Management Finance Cost-Benefit 143

Corinium

APRIL 25, 2019

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. Are you seeing any specific issues around the insurance industry at the moment that should concern CDAOs?

Insurance 150

Insurance Risk IoT Cost-Benefit 150

Smart Data Collective

JANUARY 17, 2022

The healthcare sector, in particular, has discovered a number of benefits of leveraging data technology. It consists of a vast network of interconnected entities, including hospitals, insurance providers, pharmaceutical companies, and government entities. Reduce Cost of Care. The modern healthcare system is incredibly complex.

Data Collection 140

Data Collection Big Data Insurance Cost-Benefit 140

CIO Business Intelligence

SEPTEMBER 24, 2024

This is a significant change moment,” says Rich Wiedenbeck, CAIO of Ameritas, an insurance and financial services company headquartered in Lincoln, Nebraska. See IDC PlanScape: Unit-Based Costing to Optimize IT Performance for an exploration of how unit cost can be applied to digital products and services.)

IT 130

IT Insurance Cost-Benefit Risk 130

Smart Data Collective

MAY 23, 2021

AI (Artificial Intelligence) and ML (Machine Learning) will bring improvement in Fintech in 2021 as the accuracy and personalization of payment, lending, and insurance services while also assisting in the discovery of new client pools. As a result, fintech firms can solve complex challenges even more quickly and efficiently.

Insurance 127

Insurance Machine Learning Cost-Benefit Data-driven 127

CIO Business Intelligence

NOVEMBER 1, 2024

One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. It’s a full-fledged platform … pre-engineered with the governance we needed, and cost-optimized.

IT 122

IT Insurance Consulting Risk 122

CIO Business Intelligence

MAY 28, 2022

As the Boston-based insurance company’s journey to the cloud has unfolded, it has also maintained a select set of datacenters from which to run legacy applications more economically than they would on the cloud, as well as software from vendors that make licensing on the cloud less attractive. The benefits of a solid cloud foundation.

Insurance 145

Insurance Machine Learning Digital Transformation Cost-Benefit 145

Smart Data Collective

MAY 1, 2022

One of the benefits of leveraging machine learning is that it can help with develop employee compensation schemes. She talked about the benefits of ensuring employees are paid based on their respective value, rather than their position. The leisure and hospitality businesses rely largely on tronc benefits.

Machine Learning 128

Machine Learning Management Cost-Benefit Insurance 128

Cloudera

MAY 4, 2022

Benefits aplenty. The beauty of AI is that it promises to deliver more benefits than you can even imagine. Among the benefits of AI-first strategies are: Operational efficiency. Insurance and finance companies leverage this speed to review claims, loan requests, and credit checks. The future is now.

Internet of Things 134

Internet of Things Cost-Benefit Insurance Data-driven 134

FineReport

AUGUST 13, 2021

Insurance companies provide risk management in the form of insurance contracts. Industry-specific, comprehensive, and reliable data management and presentation have become an issue of increasing concern in the insurance industry. The insurance dashboard is one of the most commonly used data display methods.

Insurance 52

Insurance Dashboards KPI Analytics 52

Jet Global

JUNE 5, 2020

What Is an Insurance KPI? An insurance Key Performance Indicator (KPI) or metric is a measure that an insurance company uses to monitor its performance and efficiency. Insurance metrics can help a company identify areas of operational success, and areas that require more attention to make them successful. View Guide Now.

Insurance 59

Insurance Metrics Reporting KPI 59

IBM Big Data Hub

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Insurance 56

Insurance Cost-Benefit Digital Transformation Marketing 56

CIO Business Intelligence

OCTOBER 17, 2024

Liberty Dental Plan insures about 7 million people in the United States as a dental insurance company. And over time I have been given more responsibility on the operations side: claims processing and utilization management, for instance, both of which are the key to any health insurance company (or any insurance company, really).

Management 111

Management Insurance ROI Cost-Benefit 111

CIO Business Intelligence

AUGUST 21, 2024

From insurance to banking to healthcare, organizations of all stripes are upgrading their aging content management systems with modern, advanced systems that introduce new capabilities, flexibility, and cloud-based scalability. In this post, we’ll touch on three such case studies. It’s enabled us like a force multiplier.

Management 111

Management Enterprise Insurance Cost-Benefit 111

CIO Business Intelligence

OCTOBER 10, 2024

If they dump a pilot that’s not meeting expectations too soon, they may miss out on huge benefits down the line, but if they hang on too long, they can waste huge amounts of time, money, and resources. On the one side, Forrester recently warned organizations not to look for AI ROI too soon, because they could miss out on AI’s benefits.

ROI 135

ROI Experimentation Cost-Benefit Metrics 135

CIO Business Intelligence

MAY 1, 2024

Telcos surveyed by McKinsey demonstrated the same blend of optimism and restraint as other industries, with a majority claiming to have cut costs with gen AI, and seen increases in call center agent productivity and improvement in marketing conversion rates with personalized content — both with models deployed in weeks rather than months.

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

CIO Business Intelligence

APRIL 23, 2024

One meaning: initiatives that, as outlined above, have potential benefit but a high probability of failure. You can choose to not charter a risky initiative, ignoring and eschewing its potential benefits. Insurance: You know how this plays out.

Risk 116

Risk IT Insurance Risk Management 116

erwin

FEBRUARY 7, 2019

The banking, financial services and insurance industry typically deals with higher data velocity and tighter regulations than most. On the whole, the implementation resulted in extraordinary time savings and a total cost reduction of 60 percent. Metadata-Driven Automation in the Insurance Industry.

Metadata 96

Metadata Insurance Data-driven Cost-Benefit 96

CIO Business Intelligence

NOVEMBER 1, 2024

One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. It’s a full-fledged platform … pre-engineered with the governance we needed, and cost-optimized.

IT 105

IT Insurance Consulting Risk 105

CIO Business Intelligence

OCTOBER 13, 2022

Rich Gilbert, who joined Aflac in 2019 as chief digital and information officer, now serves as its chief transformation officer and head of individual benefits. Insurance is an interesting business, because you’re not building something; you’re in business to fulfill a promise. The promotion and title are well deserved.

IT 128

IT Insurance Cost-Benefit Modeling 128