AWS Big Data

JULY 16, 2024

This post is written in collaboration with Clarisa Tavolieri, Austin Rappeport and Samantha Gignac from Zurich Insurance Group. SIEM solutions help you implement real-time reporting by monitoring your environment for security threats and alerting on threats once detected.

Insurance 106

Insurance Management Cost-Benefit Optimization 106

Smart Data Collective

JUNE 3, 2021

The insurance industry is among those that has found new opportunities to take advantage of machine learning technology. Life insurance companies in particular are discovering the wondrous opportunities that AI provides, since this sector faces some unique challenges relative to other insurance offerings.

Insurance 98

Insurance Machine Learning Cost-Benefit ROI 98

Cloudera

NOVEMBER 16, 2020

The insurance industry has a long and intimate relationship with fraud in many different ways. Insurance fraud can take place at a process or business function level, most notably in claims or underwriting. The different venues to commit fraud against an insurer are mind-boggling, with serious financial consequences.

Insurance 101

Insurance ROI Marketing Machine Learning 101

Cloudera

OCTOBER 28, 2021

I’ve had the pleasure to participate in a few Commercial Lines insurance industry events recently and as a prior Commercial Lines insurer myself, I am thrilled with the progress the industry is making using data and analytics. Another historic example is crop and livestock insurance in Germany in the 1700s.

Insurance 97

Insurance Risk Unstructured Data Data-driven 97

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 122

IT Insurance Consulting Risk 122

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

MARCH 27, 2024

As businesses make plans to mitigate climate risks such as extreme weather events, they have an opportunity to innovate with new business models and demonstrate leadership by implementing more sustainable practices. What is climate risk? Substantial repair costs might arise, particularly impacting insurance companies.

Risk 60

Risk Forecasting Insurance Strategy 60

datapine

MAY 31, 2022

This increases the risks that can arise during the implementation or management process. The risks of cloud computing have become a reality for every organization, be it small or large. The next part of our cloud computing risks list involves costs. Cost management and containment.

Risk 237

Risk Cost-Benefit Business Intelligence Data-driven 237

IBM Big Data Hub

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. 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.

Risk 67

Risk Strategy Risk Management Insurance 67

Smart Data Collective

JUNE 26, 2019

The insurance industry is based on the idea of managing risk. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. Advanced Analytical Processes in Insurance. Insuring for the Twenty-First Century. Seeing Into the Future.

Insurance 96

Insurance Data Analytics Analytics IoT 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 105

IT Insurance Consulting Risk 105

Cloudera

SEPTEMBER 7, 2023

With AI, financial institutions and insurance companies now have the ability to automate or augment complex decision-making processes, deliver highly personalized client experiences, create individualized customer education materials, and match the appropriate financial and investment products to each customer’s needs.

Insurance 82

Insurance Risk Data-driven Finance 82

IBM Big Data Hub

OCTOBER 9, 2023

At the beginning of 2023, according to IBM Security’s “ Threat Intelligence Index ” report, healthcare was in the top 10 most-attacked industries on the planet. The “ Cost of a Data Breach 2023” report also uncovered that, since 2020, healthcare data breach costs have increased by 53.3%.

Risk Management 76

Risk Management Risk Management Measurement 76

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

Octopai

APRIL 18, 2022

Regulatory standards for the insurance industry are almost as old as the insurance industry itself. Insurance in the ancient world tended to revolve around merchants shipping cargo. Insurance for your personal valuables, your pets or your fantasy football players was a thing of the future. . Let’s see how.

Insurance 52

Insurance Risk Cost-Benefit Reporting 52

Alation

APRIL 13, 2021

He shows how Texas Mutual Insurance Company has embraced data governance to build trust in data. Through the Snowcase program, we highlighted how Snowflake and Alation help joint customers with data governance in the insurance industry. In this blog, Chris shows how Snowflake and Alation together accelerate data culture. In Conclusion.

Insurance 98

Insurance Data Governance Data-driven Metrics 98

DataRobot Blog

APRIL 29, 2022

This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. The stakes in managing model risk are at an all-time high, but luckily automated machine learning provides an effective way to reduce these risks.

Risk 111

Risk Modeling IT Risk Management 111

CIO Business Intelligence

OCTOBER 13, 2022

Knowing your risk level as you navigate a large venue can help you avoid crowds and stay safely within your bubble – all of which empowers you to enjoy the experience all the more. Live at Eurovision: a Bluetooth App to Navigate Covid Risk. A New Normal: Bubble-Up for Safety at Live Events with Flockey. So, how does it work?

Risk 98

Risk Broadcasting Recreation/Entertainment Dashboards 98

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. Both Wiedenbeck and the new CIO report to the executive office, consisting of the CEO and the president/COO. We need to proceed carefully so there is not unintended bias.

IT 130

IT Insurance Cost-Benefit Risk 130

Alation

JANUARY 9, 2023

Alation joined with Ortecha , a data management consultancy, to publish a white paper providing insights and guidance to stakeholders and decision-makers charged with implementing or modernising data risk management functions. The Increasing Focus On Data Risk Management. Download the complete white paper now.

Risk Management 52

Risk Management Risk Management Metadata 52

John Wheeler

APRIL 16, 2021

This week, we kicked-off a major research effort to explore current innovations in the rapidly expanding integrated risk management (IRM) market. The culmination of the review effort will be our inaugural “Emerging Technologies: Tech Innovators in IRM, 2021” report slated to publish in late June.

Risk Management 59

Risk Management Risk Management Internet of Things 59

Jet Global

DECEMBER 21, 2020

In the more modern terminology of business, we could rephrase that to say “be careful about concentration risk.”. When an organization is too reliant on one company or market segment to drive revenue or ensure an adequate product supply, it creates concentration risk. Vendor Concentration Risk. Fourth-Party Concentration Risk.

Risk 98

Risk Sales Reporting Forecasting 98

Octopai

SEPTEMBER 22, 2019

Perhaps nowhere is this truer than in the insurance industry, though. Consider: – In life insurance, actuaries rely on data from many sources to discover and define ever more granular health and lifestyle attributes to determine the overall risk level of each applicant. Insurance Metadata Management.

Metadata 53

Metadata Insurance Management Data Governance 53

Cloudera

FEBRUARY 15, 2024

While there are clear reasons SVB collapsed, which can be reviewed here , my purpose in this post isn’t to rehash the past but to present some of the regulatory and compliance challenges financial (and to some degree insurance) institutions face and how data plays a role in mitigating and managing risk.

Insurance 88

Insurance Data Architecture Risk Management Risk 88

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

JUNE 6, 2023

While there is endless talk about the benefits of using ChatGPT, there is not as much focus on the significant security risks surrounding it for organisations. In one example , a doctor uploaded their patient’s name and medical condition in order to generate a prior authorisation letter to the patient’s insurance company.

Risk 98

Risk Insurance Software Modeling 98

CIO Business Intelligence

MARCH 18, 2024

But while there’s plenty of excitement and change underway, security risks and vulnerabilities have continued to follow right alongside that innovation. Reporting of major ICT-related incidents : Regulation defines how organizations will need to classify and report ICT-related security incidents moving forward.

Risk Management 120

Risk Management Insurance Risk Testing 120

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

Cloudera

FEBRUARY 4, 2021

Financial services institutions need the ability to analyze and act on massive volumes of data from diverse sources in order to monitor, model, and manage risk across the enterprise. They need a comprehensive data and analytics platform to model risk exposures on-demand. Cloudera is that platform. End-to-end Data Lifecycle.

Risk 87

Risk Marketing Technology Management 87

Jet Global

MARCH 2, 2020

Do you struggle with your financial reporting on Yardi, and find yourself spending hours downloading data and customizing reports? Are you frustrated with relying on IT or consultants to create your reports, and encountering delays and missed deadlines? Taming Your Reporting Requirements.

Reporting 83

Reporting Recreation/Entertainment Insurance Consulting 83

Cloudera

SEPTEMBER 22, 2022

Insurance carriers are always looking to improve operational efficiency. In this post, I’ll explore opportunities to enhance risk assessment and underwriting, especially in personal lines and small and medium-sized enterprises. According to a recent McKinsey report , digitized underwriting can improve loss ratios three to five points.

Analytics 101

Analytics Insurance IoT Risk 101

Jet Global

MARCH 11, 2020

Yet there is a stumbling block that hinders finance managers: reporting. Financial users are under constant pressure to create a myriad of reports, from the typical period finance reports such as income statements, balance sheets, P&L, etc., 5 Things Not to do When Choosing a Reporting Tool. View Guide Now.

Reporting 72

Reporting Management Finance Insurance 72

CIO Business Intelligence

NOVEMBER 18, 2024

Traditionally viewed as rock-solid and steady, the insurance industry is not exactly associated with taking big risks. Gray Nester, CIO, Brown & Brown Insurance Gray Nester / Brown & Brown Some, like BBNI’s Technology Solutions Group, are being renamed and restructured to orchestrate greater immersion in the business.

IT 116

IT Insurance Strategy Technology 116

Rocket-Powered Data Science

OCTOBER 16, 2020

senior executives across eight industries: agriculture, banking, exhibitions, government, healthcare, insurance, legal, and science/medical. The sectors with the greatest increases in investment were insurance, banking, and agriculture, followed closely by healthcare and science/medical. anticipate cutting jobs.

Strategy 198

Strategy Insurance Snapshot Digital Transformation 198

CIO Business Intelligence

AUGUST 10, 2023

Still, CIOs can be left to fend for themselves if their actions are perceived to cross a legal threshold or when risks inherent to the job are viewed as inadequately addressed. But does your company have liability insurance for its executives? Liability insurance is not a catch-all Does executive liability insurance cover everything?

Insurance 96

Insurance Risk Management Reporting 96

bridgei2i

JUNE 2, 2020

Episode 7: The Impact of COVID-19 on Financial Services & Risk. The Impact of COVID-19 on Financial Services & Risk Management. Now, the first of those areas is definitely risk and portfolio management. So, both data and algorithms become important as we look to assess risk and portfolio management. Management.

Risk Management 128

Risk Management Risk Enterprise Management 128

CIO Business Intelligence

SEPTEMBER 1, 2024

Jyothirlatha B, CTO, Godrej Capital, says, “Governments may need to establish regulatory bodies to oversee the ethical use of AI and enforce compliance, while public awareness campaigns will educate individuals about the risks of deepfakes.” CIOs however, are very cognizant of the ethical conundrums posed by deepfakes.

Risk 120

Risk Insurance Finance Machine Learning 120