IBM Big Data Hub

MARCH 25, 2024

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.

Insurance 85

Insurance Forecasting Risk Risk Management 85

IBM Big Data Hub

JUNE 26, 2018

In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz.

Insurance 73

Insurance Data Science Forecasting Marketing 73

Smart Data Collective

AUGUST 29, 2022

However, the rapidly changing business environment requires more sophisticated analytical tools in order to quickly make high-quality decisions and build forecasts for the future. For example, insurance companies use cluster analysis to detect false claims, while banks use it to assess creditworthiness. Predictive analytics.

Analytics 132

Analytics Predictive Analytics Machine Learning Insurance 132

CIO Business Intelligence

JANUARY 21, 2025

times compared to 2023 but forecasts lower increases over the next two to five years. Other document processing use cases include conducting clinical trials in life sciences, loan underwriting in retail banking, and insurance claims processing. AI at Wharton reports enterprises increased their gen AI investments in 2024 by 2.3

Cost-Benefit 142

Cost-Benefit Data-driven Strategy Marketing 142

Cloudera

SEPTEMBER 7, 2023

The Danger of Black-Box AI Solutions We believe the best, most pragmatic solution for AI in financial services and insurance is what we call–“Trusted AI.” Advanced analytics processing vast data volumes to forecast market trends, currencies, stocks, and investment timings. Track market trends. Step up to comprehensive cybersecurity.

Insurance 83

Insurance Risk Data-driven Finance 83

datapine

MAY 6, 2022

Linking purchase orders to bills of lading plus relevant insurance documents and insurance paperwork helps you file claims more quickly when something goes wrong. Not only does this help you plan dock and door timing better, but it can identify times when you’ll need to increase or adjust labor for effective cross-docking.

Management 229

Management Sales Insurance Dashboards 229

Smart Data Collective

MAY 1, 2022

Tronc benefits place both the firm and the employee in the same tax situation as cash tips: the employee must pay income tax on the voluntary money received, and there is no National Insurance Contributions (NICs) to pay. Exemption from National Insurance contributions is one of the benefits provided to enterprises.

Machine Learning 136

Machine Learning Management Cost-Benefit Insurance 136

CIO Business Intelligence

MAY 8, 2024

On behalf of insurance carriers, pharmacy benefit managers, and other healthcare payers, Expion negotiates prices with pharmacies and medical practices based on volume discounts and other factors. Automation, and generative AI in particular, can transform the insurance industry, he adds.

Insurance 111

Insurance IT Cost-Benefit Unstructured Data 111

bridgei2i

MAY 26, 2020

By allowing that, they could have a steady demand forecast based on sensing algorithms and react faster to such events. He has delivered hundreds of millions of dollars of impact to his clients in High-Tech CPG and Manufacturing Industries, particularly in the areas of demand forecasting, inventory and procurement planning. Transcript.

Enterprise 131

Enterprise Management Forecasting Manufacturing 131

CIO Business Intelligence

MAY 24, 2024

The CIO touches everything While Buccola’s evidence of an elevated CIO role is anecdotal, Michael Corrigan, CIO of large insurance broker World Insurance, sees the same trend. All roads lead to IT,” says Corrigan, a veteran of PE-backed firms, with World Insurance backed by Goldman Sachs and Charlesbank.

Insurance 111

Insurance Digital Transformation Strategy Marketing 111

CIO Business Intelligence

JUNE 7, 2022

Predictive analytics applies techniques such as statistical modeling, forecasting, and machine learning to the output of descriptive and diagnostic analytics to make predictions about future outcomes. It is frequently used for economic and sales forecasting.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

CIO Business Intelligence

FEBRUARY 13, 2023

We will continue to reduce our investment and presence at our on-prem data center,’’ says Raju Seetharaman, senior vice president of IT and transformation at life insurance company Legal & General America. “We IDC is forecasting a 5.1% Low code/no code solutions give business teams the ability to deliver changes quickly,” he says.

IT 145

IT Insurance Machine Learning Marketing 145

CIO Business Intelligence

JUNE 22, 2023

There’s a demand for skills around product optimization, customer service management, tracking digital and marketing trends, demand forecasting, data-driven decision making, improving efficiency, lowering costs, and navigating supply-chain management. Average salary: US$121,052 Increase since 2021: +14.4%

IT 122

IT Insurance Recreation/Entertainment Consulting 122

Smart Data Collective

SEPTEMBER 16, 2020

Regardless of your industry, whether it’s an enterprise insurance company, pharmaceuticals organization, or financial services provider, it could benefit you to gather your own data to predict future events. From a predictive analytics standpoint, you can be surer of its utility.

Predictive Analytics 139

Predictive Analytics Analytics Predictive Modeling Data mining 139

Smart Data Collective

MARCH 8, 2021

According to a forecast by IDC and Seagate Technology, the global data sphere will grow more than fivefold in the next seven years. Direct costs include depreciation, interest, repair and maintenance costs, tire changes, insurance, fuel, taxes, and fees. This ever-growing volume of information has given rise to the concept of big data.

Big Data 143

Big Data Management Predictive Analytics Statistics 143

CIO Business Intelligence

OCTOBER 13, 2022

In healthcare, securing personal health data is key, governed by national standards laid out by the Health Insurance Portability and Accountability Act (HIPAA). Next stop: Migrating a complex forecasting module planned for later in 2022. For more information, visit [link]. Application Management

Insurance 115

Insurance Data Warehouse Manufacturing Forecasting 115

Jet Global

NOVEMBER 27, 2019

With 300 entities distributed across 50 countries, credit insurance specialist, Atradius, struggled to present a consolidated set of accounts, in a timely manner, that everyone could agree on and trust. Improving forecast accuracy using predictive analytics to detect bias. Webinar Details: Tuesday, December 10, 1pm. Register Now.

Reporting 81

Reporting Insurance Predictive Analytics Forecasting 81

CIO Business Intelligence

DECEMBER 7, 2022

We haven’t changed our forecast in three quarters,” he says, noting that the US gross domestic product (GDP) is, technically, already in recession territory and has been for the past six months. Megan Duty, VP of technology and project delivery, Puritan Life Insurance Company of America. Gartner predicts 2023 IT spending will grow 5.1%

IT 132

IT Insurance Cost-Benefit Risk Management 132

Smart Data Collective

JANUARY 26, 2022

Legal analytics is the process of implementing data into your decision-making on topics affecting legal forms and attorneys, like legal strategy, a matter of forecasting, and resource management. Improved Insurance Claim Processing. That’s a great challenger for insurance agencies. What is Legal Analytics?

Data Analytics 103

Data Analytics Analytics Predictive Analytics Insurance 103

Cloudera

JULY 20, 2021

An example from retail: higher fidelity demand forecasting in a large leading global grocery retailer produced a 5% to 7% increase in sales by minimizing out-of-stocks and a 30% to 50% reduction of average out-of-stocks in stores – that’s millions of dollars for most retailers. GDP forecasts keep rising and falling.

Manufacturing 106

Manufacturing Forecasting IoT Insurance 106

Smart Data Collective

MAY 11, 2023

Big Data is used more in property and casualty insurance than in other areas of actuarial practice. Health and life insurance have seen significant advances in Big Data use in recent years. CRM also provides useful sales analytics that help sales teams to refine their approach, and generate more accurate forecasts.

Data mining 116

Data mining Big Data Sales Cost-Benefit 116

Smart Data Collective

JULY 25, 2019

Companies work in the risk assessment realm when representatives decide whether to offer insurance or loans to clients. For example, if a company seems likely to file an excessive number of insurance claims, it could be a high risk for an insurance company and cause the company to pay higher premiums to compensate.

Big Data 107

Big Data Insurance Risk Cost-Benefit 107

CIO Business Intelligence

SEPTEMBER 10, 2024

Increasing demand for SaaS backup insurance — deemed critical for business continuity — comes in the aftermath of the CrowdStrike-Microsoft outage that impacted business globally this summer. billion in 2024 and is forecast to reach nearly $300 billion in 2025, according to Gartner.

Risk Management 130

Risk Management Risk Enterprise Insurance 130

Andrew White

DECEMBER 16, 2021

The Fed’s forecast is for: Core Inflation 2021 at 4.4%. The Fed is forecasting three 0.25% rate rises during 2022. It is everything, from raw materials to consumer goods to insurance to healthcare. Dropping to 2.7% Its growth may have stopped by March, that’s all. The ‘supply chain’ is not the trucking business.

Forecasting 102

Forecasting Insurance Strategy Marketing 102

Smarten

JUNE 21, 2018

This article provides a brief explanation of the Holt-Winters Forecasting model and its application in the business environment. What is the Holt-Winters Forecasting Algorithm? The Holt-Winters algorithm is used for forecasting and It is a time-series forecasting method. 2) Double Exponential Smoothing Use Case.

Forecasting 40

Forecasting Enterprise IT Predictive Modeling 40

CIO Business Intelligence

MARCH 15, 2023

growth underscores how inflation, interest rate fluctuations, and consumer spending are reshaping forecasts, investment portfolios, and the CIO agenda. All things related to maintaining the systems to land, expand, and renew business at forecasted volumes are no brainers. Securing the technical estate from bad actors?

Uncertainty 98

Uncertainty Cost-Benefit Forecasting Insurance 98

Smart Data Collective

FEBRUARY 2, 2021

By tracking patients’ health, drug interactions, and forecasting their needs, Big Data helps medical institutions deliver targeted solutions. Moreover, the use of data in talent acquisition helps build more relevant offers, increases retention, and forecast talent demand.

Big Data 106

Big Data Recreation/Entertainment Cost-Benefit Finance 106

CIO Business Intelligence

MAY 1, 2024

For every optimistic forecast, there’s a caveat against a rush to launch. And commercial insurance is a vertical Docugami CEO Jean Paoli says has been an early adopter, including statements of value, certificates of insurance, as well as policy documents with renewal dates, penalties, and liabilities.

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

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. Juniper Research forecasts that in 2023 the global operational cost savings from chatbots in banking will reach $7.3

Deep Learning 105

Deep Learning Data Processing Insurance Cost-Benefit 105

Smart Data Collective

MAY 21, 2019

Insurance providers might require them to have adequate safeguards to get compensated for any damages. The Weather Company has said that predictive analytics is revamping the way they forecast the weather. Developing new safeguards to protect various types of equipment. Organizations need to carefully protect their equipment.

Big Data 101

Big Data Cost-Benefit Predictive Analytics Insurance 101

CIO Business Intelligence

JUNE 7, 2022

In business, when a trend is forecast to grow by more than 3000% and generate cost savings of $7.3 billion in cost savings for the insurance industry as well during the same period. . billion globally over a five-year period, it gets noticed. The same study estimated that chatbots would lead to $1.3

Unstructured Data 98

Unstructured Data Deep Learning Insurance Interactive 98

CIO Business Intelligence

JUNE 26, 2023

In insurance, the ability of underwriters to forecast the impact of climate change could become a make-or-break issue. For example, climate change will have far-reaching effects on the viability of construction projects in many regions as well as the ability of borrowers to repay loans.

Data-driven 98

Data-driven Insurance Risk Risk Management 98

bridgei2i

JULY 8, 2020

And if you’re a banker or an insurer, you’re probably busy figuring out how to measure these risks, mobilize these resources, and fund capital that’s going to provide strong growth. In the short run, this means they have to get their demand forecast right.

Digital Transformation 132

Digital Transformation Enterprise Insurance Risk 132

datapine

OCTOBER 11, 2023

As seen in the image above, these costs can include employee salaries, taxes, insurance, storage, and even the investment opportunities that the business might be losing due to having a lot of resources tight to inventory. 3) Inventory turnover Next, in our warehouse metrics examples, we have the inventory turnover.

Metrics 217

Metrics KPI Management Cost-Benefit 217

Smart Data Collective

JUNE 5, 2023

Besides offering peace of mind, these features can reduce home insurance premiums. Water Conservation Smart irrigation systems can adjust water usage based on weather forecasts and soil conditions, avoiding water wastage. Intelligent Home Security Forget expensive security services. Now that’s smart.

Cost-Benefit 111

Cost-Benefit Insurance Big Data Predictive Analytics 111

IBM Big Data Hub

OCTOBER 30, 2023

Real-time data analytics helps in quick decision-making, while advanced forecasting algorithms predict product demand across diverse locations. A leading insurance player in Japan leverages this technology to infuse AI into their operations.

Insurance 77

Insurance Data Warehouse Data-driven Unstructured Data 77

CIO Business Intelligence

APRIL 27, 2023

Consider an insurance company using generative AI to forecast claim amounts for its policyholders. When the policyholders receive the claim amounts, the insurer needs to be able to explain the reasoning behind how they were estimated, making transparency and explainability fundamental.

Enterprise 72

Enterprise Insurance Cost-Benefit Digital Transformation 72