Decision Management Solutions

MAY 1, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , in which he states that there are only three levers of value in insurance: 1. Sell More , 2. Cost Less to Operate.

Insurance 75

Insurance Technology Predictive Analytics Risk 75

Decision Management Solutions

JUNE 19, 2019

There is a common high-level customer journey for insurance customers. Here at Decision Management Solutions we’ve helped insurance carriers in the US and Asia develop innovative approaches to developing and delivering NBO/NBA initiatives. By: Zoe Zhou. The customer researches providers and policy options.

Insurance 75

Insurance Consulting Predictive Analytics Interactive 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

Birst BI

OCTOBER 30, 2018

An analytics alternative that goes beyond descriptive analytics is called “Predictive Analytics.”. Predictive Analytics: Predicting Future Outcomes. While descriptive analytics are focused on historical performance, predictive analytics are about predicting future outcomes.

Predictive Analytics 73

Predictive Analytics Descriptive Analytics Analytics Metrics 73

Sisense

FEBRUARY 18, 2021

Predictions like those, indeed predictive analytics itself, rely on a deep understanding of the past and present, expressed by data. New to the idea of predictive analytics? Defining predictive analytics. Predictive analytics use data to create an outline of the future.

Predictive Analytics 66

Predictive Analytics Business Intelligence Analytics Manufacturing 66

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.

Insurance 75

Insurance Data Science Testing Modeling 75

Smarten

MAY 17, 2019

Predictive analytics can help the business to understand online buying behavior, and when, where and how to serve ads, market products and offer discounts or other incentives. Predictive analytics will help you optimize your marketing budget and improve brand loyalty. Predictive Analytics Using External Data.

Predictive Analytics 53

Predictive Analytics Marketing Analytics Predictive Modeling 53

Smart Data Collective

AUGUST 29, 2022

For example, insurance companies use cluster analysis to detect false claims, while banks use it to assess creditworthiness. Predictive analytics. Predictive analytics uses historical data to predict future trends and models , determine relationships, identify patterns, find associations, and more.

Analytics 132

Analytics Predictive Analytics Machine Learning Insurance 132

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

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.” The hybrid platform’s automation capabilities are crucial in this stage, allowing for more rapid adaptation and richer analytics. Plan to scale for the future.

Insurance 83

Insurance Risk Data-driven Finance 83

CIO Business Intelligence

JUNE 7, 2022

Diagnostic analytics uses data (often generated via descriptive analytics) to discover the factors or reasons for past performance. 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.

Data Analytics 135

Data Analytics Diagnostic Analytics Management Analytics 135

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 Data-driven 150

Smart Data Collective

MARCH 8, 2021

All in all, the concept of big data is all about predictive analytics. What’s even more important, predictive analytics prevents accidents on the road. Predictive analytics takes care of both direct and indirect costs. So, without further ado, let’s see how it works in detail. Maintenance.

Big Data 143

Big Data Management Predictive Analytics Statistics 143

Smart Data Collective

JANUARY 26, 2022

With e-Discovery legal analytics tools, you can filter documents by data range instead of delving through mountains of documents or focus on only those containing the exact keywords. Predictive analytics. Predictive analytics enable leaders to make more informed decisions. Improved Insurance Claim Processing.

Data Analytics 103

Data Analytics Analytics Predictive Analytics Insurance 103

Smarten

MAY 16, 2019

Predictive analytics can be a crucial piece of the puzzle in supporting the loan approval process and monitoring and managing loans throughout the life cycle of the contract. Advanced analytics solutions are perfect for credit unions, banks, insurance businesses, auto and real estate loan processes. Customer Targeting.

Predictive Analytics 40

Predictive Analytics Analytics Predictive Modeling Insurance 40

Smart Data Collective

SEPTEMBER 15, 2019

Choosing a niche with big data and predictive analytics. You can use big data and predictive analytics to gauge trends in the music industry and see what will be popular in the future. Insure your business. If you want to become successful in the music industry, it’s essential that you insure your business.

Big Data 101

Big Data Optimization Insurance Predictive Analytics 101

Smart Data Collective

JANUARY 17, 2020

Predictive Analytics: Another way that Big Data can be used is to predict what patients might need before they need it. With the collection of patient health records, insurance records, and even lab results, Big Data algorithms can be programmed to look for risk factors that might indicate a future disease.

Big Data 135

Big Data Insurance Risk Testing 135

Cloudera

SEPTEMBER 22, 2022

Insurance carriers are always looking to improve operational efficiency. Combining this data with more classical information such as annual checkups and medical records provides better insight into risks related to health, disability, and life insurance. Cloudera Data Platform (CDP) is such a hybrid data platform.

Analytics 102

Analytics Insurance IoT Risk 102

Smart Data Collective

MAY 21, 2019

There are several ways that predictive analytics is helping organizations prepare for these challenges: Predictive analytics models are helping organizations develop risk scoring algorithms. Insurance providers might require them to have adequate safeguards to get compensated for any damages.

Big Data 101

Big Data Cost-Benefit Predictive Analytics Insurance 101

Decision Management Solutions

FEBRUARY 27, 2019

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. On the risk management front, we have begun working with some insurers to automate underwriting and pricing. Sell More.

Insurance 40

Insurance Technology Business Driver Predictive Analytics 40

Smarten

JULY 30, 2018

How Can Predictive Analysis Tools Help My Hospital or Healthcare Organization? Hospitals and healthcare systems are turning to predictive analytics tools to plan and forecast and understand what, when and how to support patients.

Predictive Analytics 40

Predictive Analytics Analytics Predictive Modeling Forecasting 40

Smart Data Collective

MARCH 3, 2021

But if they use predictive analytics, they can determine how much each case pays out, considering factors as the number of previous cases filled with the same judge. Most times, hidden predictors can make a case less predictable, which isn’t always bad.

Analytics 133

Analytics Big Data Predictive Modeling Insurance 133

CIO Business Intelligence

JANUARY 6, 2025

Meanwhile, FFIEC offers broader, non-binding guidelines, enforced selectively by regulatory bodies like the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). BMC Helix provides real-time alerts for emerging threats and uses predictive analytics to recommend corrective actions.

Risk Management 52

Risk Management Risk Insurance Reporting 52

Smart Data Collective

DECEMBER 9, 2020

The goal is to develop predictive analytics models that will be able to recommend changes to prevent such accidents from occurring in the first place. In addition to helping the government, it can also help insurance companies with their actuarial algorithms.

Machine Learning 144

Machine Learning Risk Insurance Predictive Analytics 144

Decision Management Solutions

FEBRUARY 25, 2019

To keep processing costs low, many insurance carriers have a goal to increase the percentage of their claims that can be processed and decisioned with no human decision-making involved. Perhaps surprisingly, there remains a fair amount of human intervention involved in processing insurance claims.

Insurance 40

Insurance Management Machine Learning Predictive Analytics 40

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.

Reporting 81

Reporting Insurance Predictive Analytics Forecasting 81

Smart Data Collective

MAY 11, 2023

Predictive analytics and other big data tools help distinguish between legitimate and fraudulent transactions. 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.

Data mining 116

Data mining Big Data Sales Cost-Benefit 116

CIO Business Intelligence

JUNE 16, 2022

Its system, called the Transformation Acceleration Platform, is designed to capture all types of workflows, but Arrayworks maintains a particular focus on insurance automation. Its Connected Insurance system offers customized workflows to speed up all aspects of insurance. AuraQuantic.

Management 119

Management Insurance Software Digital Transformation 119

Smart Data Collective

JANUARY 10, 2023

Other forms of financial advisement could involve insurance, money management, or banking. There are a number of reasons that data analytics technology can be useful for companies and individuals trying to help their clients. Financial analytics also helps financial planners better anticipate the needs of their clients.

Finance 122

Finance Data Analytics Analytics Big Data 122

CIO Business Intelligence

APRIL 15, 2022

In 2019, a study published in Science revealed that a healthcare prediction algorithm, used by hospitals and insurance companies throughout the US to identify patients to in need of “high-risk care management” programs, was far less likely to single out Black patients. Healthcare algorithm failed to flag Black patients.

Analytics 145

Analytics Machine Learning Insurance Testing 145

Smart Data Collective

JANUARY 12, 2022

Personal loans, business loans, credit cards, and insurance premiums all have a dependence on your credit score. Data analytics tools can help you figure out how to improve your credit score. Missing payment could quickly result in exorbitant interest rates.

Data Analytics 131

Data Analytics Analytics Finance Data mining 131

CIO Business Intelligence

MARCH 27, 2023

Integration with cognitive intelligence (context-sensitive knowledge management, predictive analytics, and similar) will be key for doing so. Here’s an example of how this could work: A customer calls his car insurance company after being in a minor fender bender.

Interactive 116

Interactive Cost-Benefit Insurance Predictive Analytics 116

Smart Data Collective

SEPTEMBER 28, 2022

For example, the Health Insurance Portability and Accountability Act (HIPAA) requires that all healthcare providers protect patient information by using security measures to prevent unauthorized access. Data management also helps your business comply with laws that protect consumer and employee rights. Conclusion.

Big Data 126

Big Data Management Data Quality Cost-Benefit 126

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. Listen Now Insurance is among the most-affected industries of the novel Coronavirus.

Digital Transformation 132

Digital Transformation Enterprise Insurance Risk 132

Domino Data Lab

JULY 28, 2021

Data science has been steadily growing for the past ten years and shows no signs of stopping; a recent Dice Report found that despite the pandemic, the demand for senior data scientists across healthcare, telecommunications, entertainment, banking, and insurance sectors increased by 32% in 2020.

Data Science 110

Data Science Statistics Predictive Analytics Recreation/Entertainment 110

IBM Big Data Hub

MAY 9, 2024

Healthcare organizations need a strong data governance framework to help ensure compliance with regulations like the Health Insurance Portability and Accountability Act of 1996 (HIPAA) in the US and the General Data Protection Regulation (GDPR) in the EU. Inaccuracies might also lead to more delays or complications with insurance coverage.

Data Governance 66

Data Governance Data Quality Insurance Predictive Analytics 66

Smart Data Collective

JUNE 5, 2023

Besides offering peace of mind, these features can reduce home insurance premiums. With predictive analytics, your smart home can warn you about potential problems like leaks or electrical faults, enabling you to fix them early and avoid hefty repair costs. Now that’s smart.

Cost-Benefit 111

Cost-Benefit Insurance Big Data Predictive Analytics 111