insurance industry

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Underwriting with 20/20 Vision

Published By: RMS     Published Date: Jul 25, 2019
The insurance industry boasts some of the most sophisticated modeling capabilities in the world. And yet the average property underwriter does not have access to the kind of predictive tools that carriers use at a portfolio level to manage risk aggregation, streamline reinsurance buying and optimize capitalization.
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RMS

The Algorithmic Insurer - How AI and Machine Learning is Transforming the Insurance Industry

Published By: TIBCO Software     Published Date: Jul 22, 2019
Connected Intelligence in Insurance Insurance as we know it is transforming dramatically, thanks to capabilities brought about by new technologies such as machine learning and artificial intelligence (AI). Download this IDC Analyst Infobrief to learn about how the new breed of insurers are becoming more personalized, more predictive, and more real-time than ever. What you will learn: The insurance industry's global digital trends, supported by data and analysis What capabilities will make the insurers of the future become disruptors in their industry Notable leaders based on IDC Financial Insights research and their respective use cases Essential guidance from IDC
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TIBCO Software

AA Ireland Transforms Itself and Insures Predictable Success

Published By: TIBCO Software     Published Date: Jul 22, 2019
AA Ireland specializes in home, motor, and travel insurance and provides emergency rescue for people in their homes and on the road, attending to over 140,000 car break downs every year, 80% of which are fixed on-the-spot. “In each of the last five years, the industry lost a quarter billion in motor insurance," says Colm Carey, chief analytics officer. "So, there's a huge push for new data, models, ways to segment and pick profitable customer types—and get a lot more sophisticated. Our goal is to optimize pricing, understand the types of customers we're bringing, and the types we're trying to attract. We would like to tie that across the business. Marketing will run a campaign, trying to attract a lot of customers, but maybe they're not the right type. "We wanted to step away from industry standard software and go with something that was powerful and future-proof. In 2016, we had an opportunity to analyze all software. We chose the TIBCO® System of Insight with TIBCO BusinessWorks™ i
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TIBCO Software

Algorithmic Insurance Using Machine Learning and Artificial Intelligence to Make Better Decisions

Published By: TIBCO Software     Published Date: Jul 22, 2019
The Insurance industry continues to undergo significant transformation, with new technologies, business models, and competitors entering the market at an increasing rate. To be successful in attracting and retaining the most valuable customers, insurance companies must innovate and increase the speed at which they respond to customer demands. Traditionally, the insurance software market was dominated by a handful of specialist vendors with products that were initially expensive, difficult to deploy, costly to maintain, and did not provide the speed needed for today’s market. Now there has been a shift away from these “black box” applications to platforms that allow insurers to make their algorithmic IP available to business users, allowing much faster response to business demands. The algorithmic platform approach also comes at a fraction of the cost of black box solutions, while delivering advanced analytical techniques like Machine Learning and Artificial Intelligence (AI).
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TIBCO Software

3 Unique Ways to Improve the Economics of Insurance with Artificial Intelligence

Published By: Expert System     Published Date: Aug 07, 2019
Facing combined ratios exceeding 98% in both P&C and Health Insurance1 for three of the past five years and declining investment yields, insurers are asking “What can we change in our operations to improve our economics?” Conclusive answers are now coming from Cognitive Technology, the variety of Artificial Intelligence that deals with knowledge and textual information. Applied to the industry’s most resource-intensive processes, it is delivering unprecedented productivity gains and insight, and leading to deep changes in how P&C insurers do business. Here’s how.
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Expert System

Critical Capabilities for BPM-Platform-Based Case Management Frameworks

Published By: Pega     Published Date: May 25, 2016
Case management frameworks built on business process management platforms help IT solutions architects deploy case-handling applications and offer an alternative to specialized case management applications and custom coding. According to Gartner, the complex architecture required to support case management has relegated it to the status of a niche application, typically addressed by specialist, commercial off-the-shelf application providers and system integrators. Case management as a process style is being applied in many sectors beyond government, legal and insurance, including healthcare, banking, higher education and retail. Industry and cross-industry case management frameworks are now available. "Adaptive case management" hype exceeds the reality of what buyers need. Gartner evaluated 12 vendors including Pegasystems against nine critical capabilities in four use cases. Download this Gartner analysis and gain a better understanding of the case management frameworks solutions offe
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business optimization, business strategy, network management, business applications, best practices, business process management, solutions, case management, business intelligence, business management, collaboration
    
Pega

How Experience Keeps Top Financial Brands in the Lead

Published By: Adobe     Published Date: Apr 23, 2018
Adobe article that condenses/highlights key findings from the Econsultancy Digital Marketing in the Financial Services and Insurance Sector 2017 Study, an in-depth, 5000+ word report covering FSI executives’ opinions on: – General trends in retail banking, investment banking, and insurance – Internal structures their companies are using to execute digital transformation – The biggest threats/disruptions in the industry – The biggest priorities in 2017 (leaders are focusing on both customer retention and customer acquisition, mainstream is focusing just on customer retention) – Main sources of sales and leads (digital + mobile are steadily increasing sources) – Digital marketing budgets & investment areas (leaders are investing more in digital marketing automation and analytics) – Use of the cloud and AI to automate analysis and marketing – The importance of multichannel personalization – Innovation in the types/formats of products/services provided (leaders are focusing on i
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Adobe

Insurance Industry Must Adapt To Millennials’ Buying Habits

Published By: Pega     Published Date: Apr 04, 2016
Millennials are different than any other generation before them. They are making major decisions later in life—from choosing a career, getting married, buying a home and yes, investing in life insurance. And while they are more tech savvy than their predecessors and want to make purchasing from any device of their choosing, they still value face-to-face interaction, contrary to popular belief. Insurance and financial companies need to understand the unique dynamics of the millennial generation in order to better service and exceed expectations of this growing consumer base. They need to meet their tech-savvy expectations, while also understanding Millennials still value one-to-one attention. In fact, 48% of Millennials said they would be more likely to make a speedy financial or insurance-related decision if a person who they trusted took the time to explain the benefits and risks. Download this whitepaper and learn how to better tap into the growing millennial market.
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Pega

Critical Capabilities for BPM-Platform-Based Case Management Frameworks

Published By: Pega     Published Date: Jun 21, 2016
Case management frameworks built on business process management platforms help IT solutions architects deploy case-handling applications and offer an alternative to specialized case management applications and custom coding. According to Gartner, the complex architecture required to support case management has relegated it to the status of a niche application, typically addressed by specialist, commercial off-the-shelf application providers and system integrators. Case management as a process style is being applied in many sectors beyond government, legal and insurance, including healthcare, banking, higher education and retail. Industry and cross-industry case management frameworks are now available. "Adaptive case management" hype exceeds the reality of what buyers need. Gartner evaluated 12 vendors including Pegasystems against nine critical capabilities in four use cases.
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Pega

Insurance Industry Must Adapt To Millennials’ Buying Habits

Published By: Pega     Published Date: May 24, 2016
Millennials are different than any other generation before them. They are making major decisions later in life—from choosing a career, getting married, buying a home and yes, investing in life insurance. And while they are more tech savvy than their predecessors and want to make purchasing from any device of their choosing, they still value face-to-face interaction, contrary to popular belief. Insurance and financial companies need to understand the unique dynamics of the millennial generation in order to better service and exceed expectations of this growing consumer base. They need to meet their tech-savvy expectations, while also understanding Millennials still value one-to-one attention. In fact, 48% of Millennials said they would be more likely to make a speedy financial or insurance-related decision if a person who they trusted took the time to explain the benefits and risks. Download this whitepaper and learn how to better tap into the growing millennial market.
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Pega

Financial Services: Drive Acquisition, Retention, and Innovation Using Customer Feedback

Published By: Bazaarvoice     Published Date: May 17, 2013
Learn how authentic customer feedback helps card issuers, online and retail banks, insurance companies, and credit unions drive sales, loyalty, and lifetime customer value - while remaining compliant with industry regulations.
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customer acquisition, customer retention, customer innovation, compliance, financial service providers
    
Bazaarvoice

Beyond MDM: A CIO’s Guide to Smart Enterprise Mobility Management

Published By: CA Technologies     Published Date: Jan 20, 2015
In the application economy, speed, innovation and quality have become table stakes. If you can’t meet your customers’ expectations, they will surely find a competitor who can. Whether your organization is in one of the sectors facing the most intense digital competition—insurance, banking, telecommunications or retail—or in a more traditional industry, how rapidly and successfully you embrace a software-driven digital transformation strategy will likely have a profound effect on your organization’s long term viability. Within this transformation sphere, the development of “omnichannel” or “digitally-connected multi-channel” capabilities is a key priority. CA Technologies can help you deliver a consistent, integrated and quality customer experience, regardless of how your customers choose to interact with you.
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enterprise mobility management, mobile devices, software, competitive advantage, strategic requirement, wireless, enterprise applications
    
CA Technologies

Lowering Commercial Automotive Insurance Costs

Published By: SambaSaftey     Published Date: Mar 15, 2019
Best practices for taking control. The numbers don’t lie: Driver monitoring can reduce accidents, save organizations money, and protect the people and communities you serve. Advances in safety technology, like comprehensive driver monitoring solutions, are enabling companies not only to stay safer, but to better navigate the tricky territory of insurance. By following a few new best practices, you can manage insurance costs and protect your company’s bottom line before your drivers even hit the road. In our free white paper, “Lowering Commercial Automotive Fleet Insurance Costs,” we’ll show you: • The many ways vehicle crashes affect the bottom line • A deeper look at the risks of employer- and employee-owned vehicles • How negligent entrustment suits can snare companies in any industry • How to mitigate risk and take control of insurance
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SambaSaftey

The Digital Transformation Journey: Key Technology Considerations

Published By: CA Technologies     Published Date: Jun 04, 2015
In the Application Economy, speed, innovation, and quality, have become table stakes. If you can’t meet your customers’ expectations, they will surely find a competitor who can. Whether your organization is in one of the sectors facing the most intense digital competition (like insurance, banking, telecommunications or retail), or a more traditional industry, how rapidly and successfully you embrace a software-driven digital transformation strategy will likely have a profound effect on your organization’s long term viability. In this Whitepaper, learn how the Application Economy is driving Digital Transformation in companies, and how you can position your organization for success.
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CA Technologies

Reputational Risk and IT in the Insurance Industry

Published By: IBM     Published Date: Jun 26, 2013
How security and business continuity can shape the reputation and value of your company.
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risk, banking, business continuity, security, insurance
    
IBM

5 Ways DevOps Practices Boost Innovation on the Mainframe

Published By: CA Technologies     Published Date: Jul 26, 2017
The industry is adopting agile and DevOps practices throughout IT to increase business agility. In this book, explore the potential for DevOps in your organization, told from a mainframe point of view. Talking Points: • Digital transformation is essential in the modern software factory, and mainframes are mission-essential elements in many industries, including, finance, transportation, insurance and others • The industry is adopting agile and DevOps practices throughout IT to increase business agility • Explore the potential for DevOps in your organization, told from a mainframer’s point of view
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CA Technologies

A Leading UK Health Insurer Increases Efficiency of Claims Bill Payment by 15 Percent

Published By: WNS     Published Date: Apr 05, 2017
Our client is one of UK’s largest provider of health insurance and one of the largest insurers in the world. Their health insurance products range from private medical insurance to income protection covering more than 750,000 lives.
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health insurance industry, wns, benefits of wns, customer relationship management, customer satisfaction, customer service
    
WNS

Consolidation of processes and improvement of response times for a U.K. based Insurance Company

Published By: WNS     Published Date: Apr 06, 2017
The entry of new players into the insurance industry, coupled with the introduction of new technology, has resulted in a change in customer loyalty and buying behavior patterns.
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insurance industry, wns, benefits of wns, customer interaction service, customer relationship management, customer satisfaction, customer service
    
WNS

Delivering an On Your Side® Experience

Published By: Teradata     Published Date: Jun 12, 2013
Nationwide Mutual Insurance Company operates in a very competitive industry, so it must constantly prepare to meet new challenges as well as build on past successes, maximizing ever asset including its information. In fact, Nationwide's vision - the recognition of its information as a strategic asset - has proved to be a key factor in the company's success. Download this paper to learn more.
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big data, big data analytics, customer relationships, customer knowledge store
    
Teradata

Insurance Fraud & Organized Crime

Published By: IBM     Published Date: Jan 26, 2017
This whitepaper talks about how organized criminals and lone fraudsters are continuously adapting to the ever-changing world we live in. Through IBM solutions for insurance fraud prevention, both enterprise and industry-wide financial institutions can prevent future fraud.
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ibm, analytics, insurance fraud, insurance, organized crime
    
IBM

Quantifying the value of counter fraud Analytics in insurance

Published By: IBM     Published Date: Jan 26, 2017
By taking full advantage of the integration and advanced capabilities currently being offered by leading counter fraud solution providers - including predictive analytics and cognitive computing - enterprises can expect to achieve significantly better outcomes.Aberdeen Group's analysis helps to quantify the value of counter fraud analytics in the insurance industry.
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ibm, analytics, fraud analytics, insurance, fraud
    
IBM

The Third Anual Study on the Cyber Resilient Organization

Published By: Group M_IBM Q2'19     Published Date: Apr 22, 2019
"Improving Cyber Resilience in the Insurance Industry Security automation plays a significant role when maintaining an organization's Cyber Resilience, according to IBM Resilient’s latest report, “The Ponemon Institute Study on the Cyber Resilient Organization.” Download this latest report to understand the key factors that hinder the ability for efficient and effective Cyber Resilience and gain insights and guidance for improving your security posture."
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Group M_IBM Q2'19

Prudential case study

Published By: IBM     Published Date: Jun 25, 2018
As Singapore’s largest insurance force, Prudential Singapore needed a scalable and cost-effective solution to help financial consultants respond quicker to in-depth product and policy questions. Partnering with IBM, they developed askPRU, an industry-first chatbot with IBM Cloud and Watson capabilities. Handling over 1,000 commonly asked questions in real-time, askPRU reduced call volume by 32% within six months and enhanced the responsiveness of over 4,600 consultants. Enabling consultants to focus on more complex queries, askPRU also provides accurate expertise to help deliver consistently exceptional service. Learn how Watson technology became central to the Prudential Singapore business and enhanced their customer experience. Click here to find out more about how embedding IBM technologies can accelerate your solutions’ time to market.
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IBM

Cut through the Noise of Cloud Computing

Published By: BMC ESM     Published Date: Sep 15, 2009
Many CIOs are looking to implement the power of Cloud computing, but they don't know where to begin. How do you take full advantage of this technology and implement the correct strategy for your environment? What services should you offer via the Cloud? Read the paper, "Cloud Computing In Perspective," by BMC Software Chief Technology Officer Kia Behnia.
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bmc esm, cio, cloud computing in perspective, itil, cloud computing environments, public, private, hybrid, hipaa, payment card industry, pci, business service management, business management, cloud computing, data center design and management
    
BMC ESM

The Fourth Industrial Revolution in Insurance Webinar Recording

Published By: TIBCO Software     Published Date: Nov 12, 2018
The insurance industry stands on the precipice of change, with waves of innovation and disruption driving new possibilities across all departments, including pricing, underwriting, claims, and fraud. This webinar recording of a live panel debate is ideal for insurance professionals wanting to understand how best to unlock the possibilities created by advanced analytical techniques such as Artificial Intelligence (AI), Machine Learning (ML), and others. This TIBCO and Marketforce webinar on “The Fourth Industrial Revolution in Insurance” includes speakers Ian Thompson, chief claims officer at Zurich; David Williams, chief underwriting officer at AXA; and Clare Lunn, GI fraud director at LV=. The panel discusses: Moving towards the algorithmic insurer: the opportunities created by AI and ML How insurers can become more agile in the face of new innovations and disruptive technologies How the industry can turn structured and unstructured data into insights
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agile insurance, customer experience, digital initiatives, analytical techniques
    
TIBCO Software
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