insurance risk

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The digital claims imperative

Published By: DocuSign     Published Date: Jul 12, 2019
Rising consumer expectations are shaping the future of insurance industry, and transforming the claims process is pivotal to improving the customer journey. As carriers vie to retain their clients and capture new ones, they are turning to digital technologies to streamline their claims procedures—reducing their costs and better managing their risks along the way. We walk through how digital technologies can help insurers provide a convenient, multichannel and truly satisfying customer experience.
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DocuSign

The Definitive Guide To Public Cloud Security and Compliance for Financial Services

Published By: Dome9     Published Date: Apr 25, 2018
As of May 2017, according to a report from The Depository Trust & Clearing Corporation (DTCC), which provides financial transaction and data processing services for the global financial industry, cloud computing has reached a tipping point1. Today, financial services companies can benefit from the capabilities and cost efficiencies of the cloud. In October of 2016, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC) and the Federal Reserve Board (FRB) jointly announced enhanced cyber risk management standards for financial institutions in an Advanced Notice of Proposed Rulemaking (ANPR)2. These proposed standards for enhanced cybersecurity are aimed at protecting the entire financial system, not just the institution. To meet these new standards, financial institutions will require the right cloud-based network security platform for comprehensive security management, verifiable compliance and governance and active protection of customer data
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Dome9

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

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

Electronic Signatures in Property and Casualty Insurance - Free Ebook

Published By: E-SignLive by Silanis     Published Date: Jan 29, 2014
In property and casualty insurance, closing new business quickly is key. The longer you leave documents on the kitchen table for signature, the higher the risk of drop-off. Today, people are online. That’s where they want to do business, and they are rewarding carriers and agents who can provide a fast and convenient digital experience. This eBook shows you how P&C companies of all sizes are using electronic signature technology get documents securely signed online – on any mobile device or computer, from anywhere, in minutes.
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silanis, e-signatures, electronic signatures, insurance, property, casualty, security, legality, mobility, digital signatures, paperless, p&c agents, process improvement
    
E-SignLive by Silanis

How to grow insurance revenue, reduce riskand ensure compliance by going digital

Published By: Equinix EMEA     Published Date: May 22, 2019
This playbook outlines how insurance companies can evolve their business architectures to meet user demand, reduce risk and comply with regulations. Insurers’ employees, partners and customers are increasingly interacting at the digital edge, where commerce, population centers and digital ecosystems intersect. A distributed interconnection platform at the digital edge allows insurance companies and ecosystem participants to accelerate their transformation and effectively compete with increasingly nimble challengers.
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Equinix EMEA

Driver Risk Exposure & the Advantages of Continuous Driver Monitoring

Published By: SambaSaftey     Published Date: Mar 15, 2019
Regardless of the size of the vehicles, and often despite the utmost caution, operating vehicles can be a risky endeavor. According to the National Highway Transportation Safety Administration, highway accidents accounted for 37,461 deaths in the U.S. in 2016.1 Moreover, a recent study by Motus, a vehicle management and reimbursement platform, found that 40% of all motor vehicle accidents are work-related and cost employers a staggering $56.7 billion in 2017, taking into account medical expenses, property damage, increased insurance premiums, and lost productivity.2 While liability insurance is an important way for employers to address that risk, it’s by no means a panacea. Companies can and should be doing more to lessen the likelihood of accidents in the first place. And given that the vast majority (94%, according to NHTSA’s study) stem from driver-related actions or inactions as opposed to equipment malfunctions, one of the most important ways of doing so is to ensure that the in
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SambaSaftey

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

Best Practices For Driver Risk Management

Published By: SambaSaftey     Published Date: Mar 15, 2019
What you don't know could hurt your bottom line Let’s begin with a question: Do you know who is behind the wheel? The reality is that for many enterprises with employees who drive as part of their job, the answer is, “I think so,” or maybe, “no.” Driver risk management has recently become a top issue for many organizations since it directly affects budgets and the bottom line. The fact that there are more than 100 million people driving for work-related activities on U.S. roads and many of them have invalid, suspended or no driver’s license at all should be cause enough for concern. But combining this with the facts that: • most organizations’ budgets are at best flat • P&C insurance rates are rising 14% every 2 years • 90% of crashes are due to human error • there are fewer qualified drivers available today • the number of lawsuits around negligence are skyrocketing • and it becomes clear that understanding exposure to driver risk is imperative for every organization. So what do
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SambaSaftey

Veritas Netbackup 8.1.2. Unified Data Protection for the Cloud-ready Enterprise.

Published By: bChannels     Published Date: Dec 11, 2018
For many years, organizations thought about business continuity in much the same way they thought about business insurance — yes, it was important, but rarely was it top of mind. But that’s all changed. Many organizations have, unfortunately, discovered that even a scant few minutes of service downtime can have deleterious effects on their business operations, resulting in lost revenue, diminished customer confidence and heightened compliance risk. For those and other reasons, IT executives have raised the bar on business continuity preparedness for their organizations in all ways. New technologies, business processes and partnerships, combined with a raised level of importance for testing and a full appreciation of what virtualization can and can’t do for business continuity, are essential to new thinking around avoiding the impact of an unplanned service interruption. Download this informative Whitepaper to learn more about how Veritas Netbackup 8.1.2 can help.
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bChannels

Cyber Insurance 101: Understanding the Ins and Outs of Coverage

Published By: illusive networks     Published Date: May 18, 2016
The growing need for cyber insurance is undeniable, yet the landscape is currently operating without standards, mostly due to the high number of unknowns regarding cyber risks. As a result, understanding how cyber insurance can help mitigate the costs for your company, if a cyber attack occurs, is quickly emerging as a best practice. Download this whitepaper and learn about what to consider when purchasing a cyber insurance plan, cyber Insurance Coverage: What Is (and Isn't) Covered, How Much Will the Coverage You Need Cost?, and how to step up cyber security efforts.
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illusive networks

LTI helped reducing operation cost by 50% for a largest national multiline insurance company

Published By: Larsen & Toubro Infotech(LTI)     Published Date: Feb 18, 2019
The largest national multiline insurance had built a repository of Insurance policies (P&C and Life Insurance) on Microfilm and Microfiche in early 90’s, as a preservation strategy. They were grappling with issues as this technology became outdated over time: • Risk of losing their only source of data for Insurance policies and corresponding communication, need to improve data availability and speed of claims evaluation • Compliance issues, need of a WORM (write once read many) storage compliant with FINRA regulations, where data should be encrypted when at rest • Total cost for digitization compared to 10-12 years of support left to maintain insurance policies was not very encouraging • Required a low cost, cloud-based, FINRA-compliant document management solution which could provide quick access to stored data Download complete case study to know how LTI’s e-Office sDownload full case study to know how LTI’s e-Office solution enabled 50% TCO for Largest national Multiline Insurance.
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Larsen & Toubro Infotech(LTI)

Preparing Financial Organisations for the EU GDPR: A four step guide to compliance

Published By: Egress ABM Pilot     Published Date: Oct 09, 2017
The EU General Data Protection Regulation (GDPR) represents a significant step change for data protection across EU member states. The EU GDPR also brings with it serious implications for organisations who suffer a breach. People will always make mistakes – and in busy and stressful workplaces such as banks and insurance firms the likelihood of this increases. Without the right processes and technologies in place to help avoid mistakes, sensitive client information remains at risk. This white paper provides financial services organisations with a four-step process to ensure compliance.
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data breach, it security, malicious spyware, security management, cloud security, system protection
    
Egress ABM Pilot

Certify with Confidence: How Automated Reconciliation Lets You Sign With Certainty

Published By: Fiserv     Published Date: Mar 02, 2018
Uncover Exceptions Easily and Certify Financial Statements with Confidence. With increasing regulatory requirements for insurance organizations and the need for executive management to sign off on financial statements, it is critical to ensure that there is detailed visibility into the underlying financial data. Ongoing emphasis on having a strong internal control structure for insurers brings into light reconciliation and certification as being the critical components to making it happen. When done properly, they assure accuracy of information flowing into the financial close process, with minimal risk of misstatement, and a full audit trail. The white paper, Certify with Confidence: How Automated Reconciliation Lets You Sign With Certainty, explains how a comprehensive reconciliation solution should work In today's regulatory climate, and why a comprehensive, end-to-end, automated reconciliation system is essential to protecting yourself and your company.
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automated reconciliation for insurers, automated reconciliation, automated certification for insurers, internal control structure, financial close, comprehensive reconciliation system, comprehensive reconciliation solution
    
Fiserv

Insurance Group Strengthens Risk Management with TIBCO Data Science Software

Published By: TIBCO Software     Published Date: Jul 22, 2019
Faster answers from unstructured data, improved accuracy of liability estimates, expanded service offerings
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TIBCO Software

"A Closer Look at Isolation: Hype or Next Gen Security"

Published By: Menlo Security     Published Date: Jun 05, 2018
"Despite deploying multiple security layers to defend against cyberattacks, enterprises continue to be infected by web malware and have credentials stolen via phishing. Why is this? Here’s a 40 minute webinar featuring a representative of a leading insurance company - providing the customer perspective, along with John Pescatore, Director of Emerging Technologies at SANS Institute, and Kowsik Guruswamy, Menlo Security CTO, to answer this. Together, they discuss: * The shortcomings of today’s reactive security philosophy * Why the web continues to present a risk to businesses * The benefits of embracing Isolation * How organizations should rethink their security strategy moving forward"
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Menlo Security

For Manufacturers of Self-Driving Cars, Managing Risk will not be Autonomous

Published By: Milliman     Published Date: Sep 07, 2016
Read this whitepaper to learn why manufacturers of autonomous vehicles should be making a Supplier Product Liability Autonomous Share (SPLASh) pool to manage risk.
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autonomous vehicles, splash, risk management, auto market, original equipment manufacturers, insurance risk
    
Milliman

Will You be Ready When A Loss Happens to You? What Supply Chain Professionals Need to Know

Published By: UPS Capital     Published Date: Feb 19, 2019
Transportation risk comes in many forms and can be very hard, if not impossible, to predict. These include extreme weather, theft, hijacked trailers, global crises, cargo lost at sea, catastrophic truck or rail accidents, truck fires and a whole lot more. In 2014, the University of Tennessee Global Supply Chain Institute published a white paper titled Managing Risk in the Global Supply Chain. The most surprising finding in the research was that even though 100% of supply chain executives acknowledged insurance as a highly effective risk mitigation tool, it was simply not on their radar screen, nor in their purview. Yet, the National Cargo Security Council estimates that there is an annual global financial impact from cargo loss of $50 billion.
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UPS Capital

Decision Optimization

Published By: FICO     Published Date: Nov 10, 2015
"ACG Michigan, a large auto insurance underwriter in the US state of Michigan, needed a user-friendly system that would enable its agents (internal and independent) to churn out precise and consistent policy quotes and underwriting decisions. They turned to FICO Blaze Advisor decision rules management system to create an enterprise decision management framework to execute decisions. Learn more on how FICO Blaze Advisor helped ACG Michigan automate its underwriting About FICO FICO (NYSE: FICO), formerly known as Fair Isaac, is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimiz
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decision analytics, optimization, profitability
    
FICO

Modern Enterprise Data Protection

Published By: Cloudian     Published Date: Feb 15, 2018
Not so long ago, if you asked a business executive, “what is the most irreplaceable part of your business?” they might have pointed at their building or their employees. The really forward-thinking execs may have chosen their customers. But the reality is that businesses have insurance to deal with the loss of a building; they can hire new employees; and they can acquire new customers. The one thing that is truly irreplaceable is their data. Lose that and you really are out of business. The potential risks to your data can be as subtle as the malfunction of tiny areas on a disk drive or as enormous as the failure of an entire data center. That means it’s not enough just to protect your data — you must also select the best way to protect it. To deliver that protection in an economical and rapidly recoverable way requires a system that gives you complete control to determine levels of data protection based on the type of data. In this paper, we’ll talk about the science of data protect
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Cloudian

Reputational Risk and IT in the Insurance Industry

Published By: IBM     Published Date: Aug 06, 2014
Download here to learn how security and business continuity can shape the reputation and value of your company.
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ibm, insurance, reputational risk, security
    
IBM

Using Data Mining to Detect Insurance Fraud

Published By: IBM Software     Published Date: Feb 03, 2012
Read this paper to learn how to combine powerful analytical techniques with your existing fraud detection and prevention efforts and deploy results to the people who can use the information to eradicate fraud and recoup money.
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ibm, security, identity management, insurance fraud, data protection, risk management, access control, application security, authentication, intrusion detection, intrusion prevention
    
IBM Software

The real-world use of big data in insurance

Published By: IBM     Published Date: May 27, 2014
“Big data”– which admittedly means many things to many people – is no longer confined to the realm of technology. Today, it is a business imperative. In addition to providing solutions to insurance companies’ long-standing business challenges, big data inspires new ways to transform processes, organizations and many aspects of the insurance industry as we know it.
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ibm, big data, insurance, insurance technology, big data solutions, business value, financial data, risk data, claims data, actuarial data
    
IBM

Harnessing the power of big data and analytics for insurance

Published By: IBM     Published Date: May 27, 2014
Big data and analytics help insurance companies identify the next best action for customers. With the right solutions, companies can extract, integrate and analyze a large volume and variety of data, from call-center notes and voice recordings to web chats, telematics and social media
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ibm, big data, analytics, insurance, insurance industry, big data solutions, integration, risk assessment, policy rates, customer retention, claims data, transaction data
    
IBM

Cloudy with a Chance of Mishap

Published By: IBM     Published Date: Apr 20, 2016
Cloudy with a chance of mishap: How weather insights can help insurers manage risk and drive client value This executive report identifies opportunities for insurance companies to use weather data as an important asset in both managing operational and financial risks, as well as improving customer relationships. It also explores how companies can start using weather data in their day-to-day operations and considers future directions in the use of weather-related information for insurers.
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ibm, insurance, the weather company, ibm institute for business value
    
IBM
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