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 123

Insurance Machine Learning Cost-Benefit Risk 123

AWS Big Data

JULY 16, 2024

This post is written in collaboration with Clarisa Tavolieri, Austin Rappeport and Samantha Gignac from Zurich Insurance Group. Zurich Insurance Group (Zurich) is a leading multi-line insurer providing property, casualty, and life insurance solutions globally.

Insurance 130

Insurance Management Cost-Benefit Optimization 130

TDAN

NOVEMBER 6, 2024

Climate change is no longer a distant threat, but a present reality that’s reshaping the insurance landscape across the United States. home insurance market is far more severe and widespread than previously thought, potentially affecting every homeowner in the […]

Insurance 52

Insurance Data-driven Risk Marketing 52

Smart Data Collective

OCTOBER 3, 2023

One study found that 56% of hospitals do not have any data analytics or governance strategies. Hospitals that want to develop data strategies need to improve decision-making need to use the right technology. In reports, these codes are used to streamline processes like billing and processing health insurance claims.

Data Strategy 130

Data Strategy Strategy Insurance Data-driven 130

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

JULY 31, 2023

Natural disasters have been increasing in frequency, severity, and diversity in recent years, pressuring insurers to be more efficient and to anticipate event and claim fallout. In his role, Vasagiri is responsible for the data and software assets deployed to Swiss Re’s clients, as well as the company’s overall data strategy.

Insurance 98

Insurance Strategy Data-driven Modeling 98

CIO Business Intelligence

JANUARY 21, 2025

As gen AI heads to Gartners trough of disillusionment , CIOs should consider how to realign their 2025 strategies and roadmaps. Other document processing use cases include conducting clinical trials in life sciences, loan underwriting in retail banking, and insurance claims processing.

Cost-Benefit 142

Cost-Benefit Data-driven Strategy Marketing 142

CIO Business Intelligence

FEBRUARY 20, 2025

Decades-old apps designed to retain a limited amount of data due to storage costs at the time are also unlikely to integrate easily with AI tools, says Brian Klingbeil, chief strategy officer at managed services provider Ensono. In many cases, outdated apps are completely blocking AI adoption, Stone says.

Insurance 108

Insurance Cost-Benefit Unstructured Data Data Lake 108

CIO Business Intelligence

MARCH 27, 2024

When the leadership team at Erie Insurance planned a large-scale transformation, they knew it couldn’t be an IT-only effort. The most important part of our strategy is we work as a unified team with an enterprise mindset,” he says. Finally, the way Erie Insurance drives transformation is by leveraging enterprise business agility. “But

Insurance 95

Insurance Scorecard Digital Transformation Strategy 95

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. We didn’t. Who did you involve and why?

Insurance 105

Insurance Cost-Benefit Data Processing Strategy 105

CIO Business Intelligence

DECEMBER 20, 2022

But succeeding in the cloud can be complex, and CIOs have continued to fumble their cloud strategies in 2022 in a variety of ways, industry observers say. We have continued to evolve our cloud strategy as we gain more insight into the leverage we can gain in engineering, resilience, scaling, security, and market testing.”

Strategy 119

Strategy Insurance Digital Transformation Consulting 119

CIO Business Intelligence

MARCH 4, 2025

As a business executive who has led ventures in areas such as space technology or data security and helped bridge research and industry, Ive seen first-hand how rapidly deep tech is moving from the lab into the heart of business strategy. The takeaway is clear: embrace deep tech now, or risk being left behind by those who do.

Technology 118

Technology ROI Cost-Benefit Manufacturing 118

IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 96

Insurance Digital Transformation Unstructured Data Risk 96

CIO Business Intelligence

MAY 17, 2023

While formulating their IT modernization strategies, they’d do well to regard data assets with business opportunities in mind. An older bank, grown through acquisition, with one custom-built system supporting its real estate business, while another supports its insurance business.

Data-driven 110

Data-driven Strategy IT Insurance 110

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

CIO Business Intelligence

JULY 22, 2024

He worked with one insurance company that in 2023 made such a move, driven specifically by the desire to have a firm hold on its regulated data, for example. Moreover, these repatriations show how CIOs have a shrewder, more fluid cloud strategy today to ensure they don’t settle for less than what they want.

Optimization 128

Optimization Strategy IT Cost-Benefit 128

CIO Business Intelligence

DECEMBER 29, 2024

Para que las transformaciones digitales funcionen desde una perspectiva cultural, es necesario que los lderes de una organizacin adopten o fomenten el cambio, afirma Michael Corrigan, director de TI de World Insurance. Tiene que haber un liderazgo eficaz y un compromiso de los lderes empresariales y de TI, afirma Corrigan de World Insurance.

Insurance 116

Insurance Strategy Digital Transformation Enterprise 116

TDAN

OCTOBER 16, 2024

Data literacy has become a critical skill for insurance professionals at all levels. As chief data officers (CDOs) in the insurance industry, one of the most crucial challenges is fostering a data-literate workforce capable of leveraging data for better decision-making and innovation.

Insurance 52

Insurance Strategy Data Governance Data Strategy 52

CIO Business Intelligence

NOVEMBER 2, 2023

Yet, controlling cloud costs remains the top challenge IT leaders face in making the most of their cloud strategies, with about one third — 35% — of respondents citing these expenses as the No. 1 barrier to moving forward in the cloud. The CIO says he signed a contract with a cloud provider that gives him an out if he needs.

Strategy 140

Strategy Data Processing Experimentation Optimization 140

Smart Data Collective

FEBRUARY 28, 2022

A growing number of banks, insurance companies, investment management firms and other financial institutions are finding creative ways to leverage big data technology. In this article, we highlight the benefits of ACH payments and strategies that involve using big data to combat ACH fraud. Data-Driven Strategies to prevent ACH Fraud.

Data-driven 122

Data-driven Strategy Big Data Cost-Benefit 122

CIO Business Intelligence

NOVEMBER 11, 2024

Research firm IDC projects worldwide spending on technology to support AI strategies will reach $337 billion in 2025 — and more than double to $749 billion by 2028. For the global risk advisor and insurance broker that includes use cases for drafting emails and documents, coding, translation, and client research.

ROI 137

ROI Cost-Benefit Risk Experimentation 137

CIO Business Intelligence

DECEMBER 9, 2024

In insurance, we can soon expect to see agentic agents manage the end-to-end workflow for customer engagements. For example, GenAI must be seen as a core element of the business strategy itself. For example, an AI agent could update customer data with relevant information and complete complex tasks based on a customer inquiry.

Technology 98

Technology Insurance Interactive Reporting 98

CIO Business Intelligence

DECEMBER 19, 2024

The insurance company decided to migrate from on-premises BMC Remedy to cloud-based BMC Helix ITSM and Discovery. The companys more recent adoption of BMC ServiceOps has transformed change management processes and IT services management (ITSM) success for his organization.

IT 98

IT Insurance Cost-Benefit Optimization 98

Corinium

APRIL 23, 2019

Ahead of the third Chief Data & Analytics Officer (CDAO) Singapore conference, we caught up with Melecio Valerio Jr, Head, Data Strategy and Governance at FWD Life Insurance to discuss the key strategies for managing massive volumes of data, the cornerstones for building a data driven enterprise as well as how to best roll out an enterprise-wide (..)

Enterprise 150

Enterprise Management Insurance Data-driven 150

CIO Business Intelligence

JUNE 6, 2024

From 2011 to 2023, Perkins led technology in various senior-level roles for global property and casualty group Zurich Insurance. In striking this balance, digital and technology leaders have long optimized for cost, but so rapidly is business evolving that many of them are reconsidering that approach. Among such leaders is Barry Perkins.

Strategy 122

Strategy IT Cost-Benefit Digital Transformation 122

CIO Business Intelligence

MARCH 12, 2022

A well-establish, well-executed employee retention strategy is a key competitive differentiator, as a company’s ability to hold on to its talent — especially in tight hiring markets — has profound ramifications for its ability to operate at a high level, without the disruptions that employee turnover bring. “We

Strategy 128

Strategy Cost-Benefit Enterprise Management 128

Smart Data Collective

NOVEMBER 1, 2022

In addition, even an insurance agency must ensure that the taxes are paid before the deadline to avoid penalties from government agencies. Availing of all the tax deductions is also necessary, and professional insurance accounting services can help you in this regard. Plan for Tax Season Before it Gets Started.

Strategy 114

Strategy Insurance Software Reporting 114

CIO Business Intelligence

DECEMBER 3, 2024

Clearly, there’s a need for more complex understanding of business impact and business strategy concerning GenAI solutions, as well as for reskilling and upskilling in organisations, or for partnering with expert service providers, to gain access to GenAI skills. The report identifies that most CEOs view GenAI as transformational.

Reporting 78

Reporting Insurance Manufacturing Strategy 78

AWS Big Data

JANUARY 16, 2024

This makes it difficult to implement a comprehensive DR strategy. In the following sections, we discuss two Amazon MWAA DR strategy solutions and their architecture. This strategy provides a low-cost and low-complexity solution that is also suitable for mitigating against data loss or corruption within your primary Region.

Strategy 111

Strategy Metadata Metrics Dashboards 111

IBM Big Data Hub

NOVEMBER 30, 2023

This situation increases the need for businesses to adapt their sustainability strategies to address climate change issues. In Florida and California, where hurricanes and wildfires respectively have become more rampant, some insurance providers are choosing to stop servicing these regions entirely.

Strategy 85

Strategy Insurance Risk Management 85

Smart Data Collective

NOVEMBER 8, 2021

Data analytics has become a very important aspect of any modern business’s operating strategy. Having an emergency fund and the right insurance in place will be massively important when it comes to making sure such changes don’t cripple your business. Get the Right Insurance in Place.

Data Analytics 137

Data Analytics Insurance Analytics Cost-Benefit 137

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

CIO Business Intelligence

OCTOBER 20, 2023

But home and automobile insurance company Allstate is taking a different approach. The result, Jeevanjee says, is a technology-driven business strategy “that’s a very empowering thing.” Allstate expects to be up and running in 10 states this year for automobile policies and 19 states for rental insurance. “We

Digital Transformation 136

Digital Transformation Insurance Recreation/Entertainment Machine Learning 136

O'Reilly on Data

SEPTEMBER 11, 2018

They are creating strategies to control information flows that appear to be out of their control. Knowing whether a person purchases cigarettes can be of great interest to an insurance company, as can knowing whether a cardiac patient is buying bacon. Data flows can be very complex. Send a social worker?

Advertising 220

Advertising Insurance Experimentation Strategy 220

CIO Business Intelligence

DECEMBER 9, 2024

Clearly, theres a need for more complex understanding of business impact and business strategy concerning GenAI solutions, as well as for reskilling and upskilling in organisations, or for partnering with expert service providers, to gain access to GenAI skills. The report identifies that most CEOs view GenAI as transformational.

Reporting 75

Reporting Insurance Manufacturing Strategy 75

Smart Data Collective

SEPTEMBER 29, 2022

One study by Think With Google shows that marketing leaders are 130% as likely to have a documented data strategy. Data strategies are becoming more dependent on new technology that is arising. Driver’s license verification for insurance purposes. Let’s say your company is an insurance company.

Data-driven 145

Data-driven Data Quality Optimization Insurance 145

O'Reilly on Data

OCTOBER 11, 2022

Over the past decade, one problem with data science and its successors has been the assumption that all you need is data, and lots of it; analyzing that data will lead you to new products, new processes, new strategies: just follow the data and let it transform your business. You always know your cash flow; you always know your credit line.

Data Integration 352

Data Integration Insurance Dashboards Data-driven 352