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 Modeling Data-driven 98

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

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

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

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

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

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 Strategy Data Governance 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

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

CIO Business Intelligence

DECEMBER 10, 2024

At EXL, we recently launched a specialized Insurance Large Language Model (LLM) leveraging NVIDIA AI Enterprise to handle the nuances of insurance claims in the automobile, bodily injury, workers compensation, and general liability segments. To learn more, visit us here.

Modeling 115

Modeling Insurance Unstructured Data Experimentation 115

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

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.” proprietary data, business strategies, methodologies, etc. First , there’s the challenge of protecting one’s business-critical IP—e.g., Supercharge communication.

Insurance 88

Insurance Risk Data-driven Finance 88

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 109

Data-driven Strategy Big Data Cost-Benefit 109

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

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

IBM Big Data Hub

MAY 28, 2024

While every data protection strategy is unique, below are several key components and best practices to consider when building one for your organization. What is a data protection strategy? Why it’s important for your security strategy Data powers much of the world economy—and unfortunately, cybercriminals know its value.

Strategy 81

Strategy Measurement Risk Cost-Benefit 81

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 132

Data Analytics Insurance Analytics Cost-Benefit 132

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 98

Strategy Insurance Software Reporting 98

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

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

Rocket-Powered Data Science

FEBRUARY 12, 2021

The AAI report covers these industries: energy/utilities, financial/insurance, government, healthcare, industrial/manufacturing, life sciences, retail/consumer, services/consulting, technology, telecom, and transportation/airlines. AAI’s recently published “Now and Next State of RPA” report presents detailed results of that survey.

ROI 234

ROI Digital Transformation Reporting Machine Learning 234

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 142

Data-driven Data Quality Optimization Insurance 142

CIO Business Intelligence

OCTOBER 18, 2023

Dutch insurance and asset management company Nationale-Nederlanden, part of the NN Group, has a presence in 19 countries and serves several million retail and corporate customers. Digitization vs tradition Although the insurance sector has a traditional image, that stopped being the case years ago, says Vaquero.

Digital Transformation 128

Digital Transformation Insurance Interactive Sales 128

Smart Data Collective

MAY 10, 2022

There are a few dedicated marketplaces for buying automated trading strategies, e.g., the MQL5 Marketplace. Developers also use AI to backtest their trading strategies. MetaTrader 5 Trading Strategy Tester is an excellent example of a platform that allows investors to backtest AI-based investment strategies.

Marketing 123

Marketing Technology Insurance Machine Learning 123

CIO Business Intelligence

NOVEMBER 16, 2023

In a career spanning such companies as IBM, KeyCorp, M&T Bank, and BMO, she has “answered the call” many times, most recently as CIO of The Hartford, where she is responsible for the overall strategy, vision, and execution of business technology, cyber, data analytics, and data science. Can you expand on that?

Insurance 128

Insurance Enterprise Risk Digital Transformation 128

CIO Business Intelligence

MAY 24, 2024

As private equity firms invest in companies, they aim to increase value rapidly, and leveraging technology is a key strategy in achieving this objective,” he says. Firms with great IT leadership, a sound IT strategy, and a forward-thinking IT strategy, are creating more value.”

Insurance 111

Insurance Digital Transformation Strategy Marketing 111

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

Cloudera

MAY 4, 2022

When a company embraces an AI-first strategy , it makes a conscious decision to transform itself today and set itself up for ongoing innovation and adaptation in the future. . Among the benefits of AI-first strategies are: Operational efficiency. Benefits aplenty. AI also enables 24-hour operations with minimum downtime. .

Internet of Things 134

Internet of Things Cost-Benefit Insurance Data-driven 134

CIO Business Intelligence

NOVEMBER 8, 2023

For companies whose business units have traditionally operated independently, centralizing IT operations under one strategy can reap significant benefits — especially when it comes to offering a holistic customer experience and establishing a unified data foundation for leveraging the latest emerging technologies.

IT 124

IT Insurance Machine Learning Cost-Benefit 124

CIO Business Intelligence

OCTOBER 17, 2022

CIO Steve Zerby not only has a seat at the table, but he’s driving business strategy at the manufacturing company thanks to his panoptic view of the centralized yet global organization. They’re able to see the technologies, processes, and people “moving in different directions, the strategies involved, and how they fit together.

Insurance 145

Insurance Strategy Technology Manufacturing 145

CIO Business Intelligence

NOVEMBER 27, 2024

Organizations must navigate frameworks like the EU’s General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and sector-specific mandates such as the Health Insurance Portability and Accountability Act (HIPAA). are creating additional layers of accountability.

Data Governance 132

Data Governance Risk Insurance Metadata 132

CIO Business Intelligence

FEBRUARY 20, 2024

Sensitive personal and medical information can be used in multiple ways, from identity theft and insurance fraud to ransomware attacks. Are you ready to put AI at the heart of your data protection strategy? Patient data represents a treasure trove for hackers. Take a Security Copilot readiness assessment today. Generative AI

Risk 122

Risk Insurance Measurement Strategy 122

CIO Business Intelligence

SEPTEMBER 20, 2023

With 90 years of history, Mapfre is one of the giants of the Spanish insurance sector. And in charge of the group’s technological strategy and digitalization processes is global CIO Vanessa Escrivá. This is a strategy of some complexity, based on three pillars: digitalization, insurance platform as a service, and data.

Modeling 98

Modeling Insurance IT Cost-Benefit 98

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.

IT 111

IT Insurance Cost-Benefit Unstructured Data 111

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 297

Data Integration Insurance Dashboards Modeling 297