insurance industry

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Building a Platform for Digital Insurance

Published By: MuleSoft     Published Date: Sep 12, 2019
Digital insurance platforms enable insurance companies to connect with their ecosystem of customers, partners, and vendors on a single, unified platform. Hear firsthand from CTO Ben Turner how Legal and General’s digital insurance platform helped the company diversify product offerings, and scale quickly to meet customer expectations. Key Takeaways: How industry leaders have digitally transformed insurance offerings with a platform business model. How to build an integrated insurance platform to connect your ecosystem of suppliers and exceed customer expectations. Best practices to increase customer retention and profitability with a single view of the customer. Presented by: Ben Turner, CTO, Legal and General Dan Snowdon, UK&I Financial Services Marketing Lead, MuleSoft Angie Lee Campos, Global Financial Services and Insurance Lead, MuleSoft
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MuleSoft

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

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

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

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

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

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 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

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

A 3-step guide to insurance transformation

Published By: MuleSoft     Published Date: Nov 27, 2018
Traditional insurers are no longer safe with insurtechs challenging incumbents to rethink their business and operating models. This mass disruption creates increased pressure on IT to deliver intrinsic business value, including new services, customer touchpoints, and experiences. Successful insurance transformation requires rethinking the traditional IT operating model to allow IT to focus on creating reusable assets that empower lines of business. Doing so increases IT’s delivery capacity, making businesses more agile. Read this whitepaper to learn: An overview of the challenges insurers are facing in the industry. How a new IT operating model – API-led connectivity – allows IT teams to unlock data from legacy systems and drive reuse across the enterprise. Strategies for using APIs to create a single view of the customer and build connected customer experiences.
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MuleSoft

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

Algorithmic Insurance

Published By: TIBCO Software     Published Date: Oct 03, 2018
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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artificial intelligence, machine learning, dynamic pricing, predictive claims, real-time fraud, contextual customer experience, operational effectiveness
    
TIBCO Software

Does the Quality of a Patient’s Wristband Really Matter?

Published By: Zebra Technologies     Published Date: Sep 12, 2018
Digital technology continues to play an ever-increasing role in today’s modern healthcare systems. While 95% of hospitals in the United States have implemented Electronic Health Records or EHR, much work remains.1 Patient identification errors continue to plague hospitals and are the precipitating factor for 13% of surgical mistakes and 67% of transfusion mix-ups.2 Nationally, medication errors cause at least one death every day and injure 1.3 million people annually.3 The cost of lost lives, reduced productivity and malpractice insurance fees are debilitating the healthcare industry. At the center of every hospital’s safety program is the patient wristband, which provides caregivers access to the information they need at every point of care during the patient stay. However, not all wristbands are of equal quality. Some wristbands are not durable enough to withstand the rigors of a busy hospital environment, leading to workarounds and mistakes that, in the end, comprise patient care. H
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Zebra Technologies

Safelite Takes on Cybersecurity

Published By: BlackBerry Cylance     Published Date: Jul 02, 2018
Matthew Coy, Safelite’s Vice President of Information Technology, is responsible for overseeing all aspects of the company’s IT infrastructure, including selecting, administering, and supporting technology products. The company handles personally identifiable information, including credit card information and insurance data collected from several sources, and must comply with insurance industry regulations and the Payment Card Industry Data Security Standard. Safelite is the target of constant external attacks. The organization experienced ongoing security issues stemming from infected software, drivebys and other malicious downloads. According to Matthew, “A lot of malware and email viruses were making it through the environment, all bypassing our email security and AV.” Not only were the security controls ineffective, the previous AV platform required nearly 150 hours per week to manage. Matthew knew Safelite needed to make a change, and fast. Having worked with Cylance® at two previous companies, he was confident CylancePROTECT® could significantly improve Safelite’s endpoint security. Read the full case study to learn about the results Cylance was able to deliver.
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safe, lite, cybersecurity, data
    
BlackBerry Cylance

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

Does the Quality of a Patient’s Wristband Really Matter?

Published By: Zebra Technologies     Published Date: Jun 20, 2018
Digital technology continues to play an ever-increasing role in today’s modern healthcare systems. While 95% of hospitals in the United States have implemented Electronic Health Records or EHR, much work remains.1 Patient identification errors continue to plague hospitals and are the precipitating factor for 13% of surgical mistakes and 67% of transfusion mix-ups.2 Nationally, medication errors cause at least one death every day and injure 1.3 million people annually.3 The cost of lost lives, reduced productivity and malpractice insurance fees are debilitating the healthcare industry. At the center of every hospital’s safety program is the patient wristband, which provides caregivers access to the information they need at every point of care during the patient stay. However, not all wristbands are of equal quality. Some wristbands are not durable enough to withstand the rigors of a busy hospital environment, leading to workarounds and mistakes that, in the end, comprise patient care. H
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reducing errors, positive patient identification, patient safety, healthcare wristbands, patient identification, laser wristbands, thermal wristbands, patient alert wristbands, wristband materials, patient solutions
    
Zebra Technologies

How Experience Keeps Top Financial Brands in the Lead

Published By: Adobe     Published Date: May 15, 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 imp
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Adobe

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

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

5 Ways DevOps Practices Boost Innovation on the Mainframe

Published By: CA Technologies     Published Date: Jul 19, 2017
• 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

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

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

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

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
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