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

AUGUST 21, 2024

Potential use cases spread across vertical industries that are steeped in document-intensive processes, including healthcare, financial services, banking, and insurance. What all these processes have in common is they involve unstructured content, which until fairly recently has been a challenge for automation tools.

Insurance 116

Insurance Management Metadata Unstructured Data 116

Cloudera

OCTOBER 21, 2020

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

Insurance 72

Insurance Unstructured Data Digital Transformation Cost-Benefit 72

CIO Business Intelligence

AUGUST 21, 2024

Importantly, such tools can extract relevant data even from unstructured data – including PDFs, email, and even images – and accurately classify it, making it easy to find and use. An example use case would be an insurance company using it to read license plates from an auto accident photo.

Management 134

Management Enterprise Unstructured Data Deep Learning 134

CIO Business Intelligence

AUGUST 21, 2024

IDP enables you to apply it even to the vast majority of your content that, for too long, was hard to reach: unstructured content. 1] “Possibilities and limitations, of unstructured data,” Research World, Feb. Learn how Hyland’s enterprise content management solutions can help your business. [1] 20, 2023.

Insurance 122

Insurance Unstructured Data Structured Data Enterprise 122

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

bridgei2i

NOVEMBER 25, 2020

Automated Sales & Underwriting Strategies can Transform Insurance. One of the major repercussions of the COVID-19 pandemic in financial sectors has been the increase in awareness about insurable risks across categories and markets. Images 1: Challenges before insurance industry in the post-Corona world.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

bridgei2i

AUGUST 2, 2020

The moment of truth in an insurance relationship a customer has with an insurer is when s/he submits a claim and then waits, with bated breath, for the settlement. Yet, claims need to be settled, now more than ever and the cost of a single mistake is high, both the customer and the insurer.

Digital Transformation 95

Digital Transformation Insurance Unstructured Data Cost-Benefit 95

Cloudera

DECEMBER 11, 2020

These include the use of more data sources to gain insights and how cloud technologies can assist with digital transformation goals to be more agile and achieve objectives more quickly. Data Variety. Insurance and finance are two industries that rely on measuring risk with historical data models. Insurance .

Insurance 95

Insurance Digital Transformation Unstructured Data Machine Learning 95

CIO Business Intelligence

MAY 24, 2022

In order to help maintain data privacy while validating and standardizing data for use, the IDMC platform offers a Data Quality Accelerator for Crisis Response.

Finance 140

Finance Management Metadata Machine Learning 140

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 53

Insurance Digital Transformation Risk Management Interactive 53

bridgei2i

OCTOBER 7, 2020

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here.

Insurance 52

Insurance Sales Strategy Digital Transformation 52

O'Reilly on Data

SEPTEMBER 19, 2023

While data scientists were no longer handling Hadoop-sized workloads, they were trying to build predictive models on a different kind of “large” dataset: so-called “unstructured data.” Bayesian data analysis and Monte Carlo simulations are common in finance and insurance.

Machine Learning 339

Machine Learning Testing Modeling Cost-Benefit 339

AWS Big Data

MAY 28, 2024

Large language models (LLMs) such as Anthropic Claude and Amazon Titan have the potential to drive automation across various business processes by processing both structured and unstructured data. Redshift Serverless is a fully functional data warehouse holding data tables maintained in real time.

Unstructured Data 116

Unstructured Data Data Warehouse Structured Data Testing 116

CIO Business Intelligence

APRIL 25, 2024

Zero-copy integration eliminates the need for manual data movement, preserving data lineage and enabling centralized control fat the data source. Currently, Data Cloud leverages live SQL queries to access data from external data platforms via zero copy. Ground generative AI.

Data Integration 119

Data Integration Data Lake Data Warehouse Metadata 119

CIO Business Intelligence

JUNE 7, 2022

billion in cost savings for the insurance industry as well during the same period. . For banks, brokerages, insurance companies, fintech firms, and other financial services organizations, NLP is increasingly being seen as a solution to too much data and too few employees. The same study estimated that chatbots would lead to $1.3

Unstructured Data 98

Unstructured Data Deep Learning Insurance Interactive 98

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. Well, sort of.

Insurance 88

Insurance Data Architecture Risk Management Risk 88

CIO Business Intelligence

JULY 24, 2024

In fact, in our efforts to develop highly specialized GenAI solutions for the financial services, insurance, utilities, retail, and healthcare industries, we’re finding the most effective way to do this is by integrating proprietary domain data into existing, pre-trained LLMs.

Modeling 75

Modeling Insurance Cost-Benefit Unstructured Data 75

CIO Business Intelligence

FEBRUARY 23, 2024

Training for tomorrow Brizendine points out that the company’s overall AI strategy is tightly integrated with its data and analytics systems, which reside and run on a complex infrastructure that includes on-premises mainframes for specific-purpose workloads, SaaS applications, and use of both AWS and Microsoft Azure.

IT 122

IT Manufacturing Unstructured Data Strategy 122

erwin

JUNE 27, 2019

Additional challenges, such as increasing regulatory pressures – from the General Data Protection Regulation (GDPR) to the Health Insurance Privacy and Portability Act (HIPPA) – and growing stores of unstructured data also underscore the increasing importance of a data modeling tool.

Measurement 81

Measurement Modeling Unstructured Data Metadata 81

Smart Data Collective

FEBRUARY 2, 2021

Also, thanks to Big Data, recruitment is now more accurate. Keep in mind that recruitment agencies have to deal with huge volumes of unstructured data, and analyzing all this data by traditional means is not only slow, but also ineffective.

Big Data 106

Big Data Recreation/Entertainment Cost-Benefit Finance 106

IBM Big Data Hub

OCTOBER 30, 2023

IBM, a pioneer in data analytics and AI, offers watsonx.data, among other technologies, that makes possible to seamlessly access and ingest massive sets of structured and unstructured data. 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

Cloudera

FEBRUARY 7, 2023

billion adults around the world do not have access to formal financial services, meaning that they cannot open a bank account or access credit, insurance, or other financial products. Cloudera Data Platform (CDP) has also been instrumental in helping banks solve the issue of financial inclusion in underserved communities.

Technology 76

Technology Unstructured Data Insurance Machine Learning 76

Cloudera

DECEMBER 3, 2020

I came to the organization because of my interest in data & analytics specific to the insurance industry. Here are a few examples: Insurance: Now more than ever Insurers need to use technologies such as analytics and cloud to their advantage. It gives me all my fruits and veggies with an added boost! Reference Blog.

Insurance 53

Insurance Unstructured Data Data-driven Manufacturing 53

CIO Business Intelligence

AUGUST 21, 2024

Insurance company Aflac is one company making sure this is the case to maintain human oversight over the AI, instead of letting it act completely autonomously. These databases allow us to efficiently store and query large amounts of unstructured data, which is essential for many of our AI applications,” he says.

Risk 136

Risk Insurance Cost-Benefit Software 136

FineReport

JULY 28, 2021

Business Intelligence describes the process of using modern data warehouse technology, data analysis and processing technology, data mining, and data display technology for visualizing, analyzing data, and delivering insightful information. What is Data Science? Insurance Dashboard (by FineReport).

Business Intelligence 98

Business Intelligence Data Science Data Analytics Analytics 98

IBM Big Data Hub

NOVEMBER 10, 2023

The rule laid out an interoperability journey that supports seamless data exchange between payers and providers alike — enabling future functionalities and technically incremental use cases. These requirements enable the exchange of important data between healthcare payers and providers.

Cost-Benefit 95

Cost-Benefit Insurance Unstructured Data Consulting 95

CIO Business Intelligence

MAY 24, 2022

Today transactional data is the largest segment, which includes streaming and data flows. EXTRACTING VALUE FROM DATA. One of the biggest challenges presented by having massive volumes of disparate unstructured data is extracting useable information and insights. Insurance.

Data-driven 98

Data-driven Data Lake Data Warehouse Machine Learning 98

Cloudera

SEPTEMBER 17, 2020

They were not able to quickly and easily query and analyze huge amounts of data as required. They also needed to combine text or other unstructured data with structured data and visualize the results in the same dashboards.

Data Warehouse 81

Data Warehouse Experimentation Dashboards Visualization 81

IBM Big Data Hub

FEBRUARY 14, 2024

Insurance With AI, the insurance industry can virtually eliminate the need for manual rate calculations or payments and can simplify processing claims and appraisals. Intelligent automation also helps insurance companies adhere to compliance regulations more easily by ensuring that requirements are met.

Cost-Benefit 82

Cost-Benefit Insurance Machine Learning Unstructured Data 82

CIO Business Intelligence

FEBRUARY 21, 2024

Before moving forward, CIOs consider the problem they are trying to solve with RAG and how complex their data is, then compare their needs with each data architecture’s pros and cons. A Vector DB stores and manages unstructured data — text, images, audio, etc. — as vector embeddings (numerical format).

Insurance 64

Insurance Unstructured Data Data Architecture Technology 64

CIO Business Intelligence

MARCH 19, 2024

The 2000s: Spending spree September 2003: Autonomy completes its purchase of video management software vendor Virage and rebuilds the company’s software on its own IDOL (Intelligent Data Operating Layer) unstructured data management platform. March 2004: Autonomy acquires NativeMinds and Cardiff Software. 19, 2011, and Nov.

Software 105

Software Sales Unstructured Data Enterprise 105

Cloudera

NOVEMBER 25, 2020

Sample and treatment history data is mostly structured, using analytics engines that use well-known, standard SQL. Interview notes, patient information, and treatment history is a mixed set of semi-structured and unstructured data, often only accessed using proprietary, or less known, techniques and languages.

Data Warehouse 59

Data Warehouse Unstructured Data Analytics Visualization 59

CIO Business Intelligence

NOVEMBER 18, 2022

Physician notes from visits and procedures, test results, and prescriptions are captured and added to the patient’s chart and reviewed by medical coding specialists, who work with tens of thousands of codes used by insurance companies to authorize billing and reimbursement. This is a dynamic view on data that evolves over time,” said Koll.

Insurance 75

Insurance Contextual Data Testing Unstructured Data 75

Sisense

MAY 4, 2020

In his article in Forbes , he discussed how some of the biggest names in global business — Nike, Burger King, and McDonald’s — and progressive newer entrants to huge sectors like insurance, are embracing data and analytics technology as a platform on which to build their competitive advantages. Organizations must adapt or die.

Big Data 78

Big Data Data-driven Snapshot Unstructured Data 78

CIO Business Intelligence

JULY 26, 2023

The only thing we have on premise, I believe, is a data server with a bunch of unstructured data on it for our legal team,” says Grady Ligon, who was named Re/Max’s first CIO in October 2022.

Data Lake 98

Data Lake Digital Transformation Machine Learning Data Architecture 98

Cloudera

SEPTEMBER 15, 2022

Structured data (such as name, date, ID, and so on) will be stored in regular SQL databases like Hive or Impala databases. There are also newer AI/ML applications that need data storage, optimized for unstructured data using developer friendly paradigms like Python Boto API.

Metadata 87

Metadata Big Data Optimization Machine Learning 87