insurance industry

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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

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

5 Reasons Personal Insurers Should Embrace Cognitive Computing

Published By: IBM     Published Date: Feb 26, 2016
"71% of consumers do some digital research before buying an insurance policy, and 26% of those surveyed had purchased their policies online. Insurance companies are investing in interactive websites, mobile apps, and analytics software to help them optimize their processes, increase sales, improve customer service, and boost their financial standing. But is this enough to keep up? As technology continues to advance, leading insurance companies are already looking ahead to the next big advance that will transform the industry: cognitive computing."
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cognitive computing, analytics software, ibm, insurance, process automation, business analytics, enterprise software, business technology
    
IBM

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

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 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

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

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

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

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

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

Beyond the Insurance Contact Center: The Communications Center of the Future

Published By: Interactive Intelligence     Published Date: Feb 14, 2012
In the insurance industry, call centers have become increasingly sophisticated in terms of their business capabilities and enabling technologies.
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call center management, call center software
    
Interactive Intelligence

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

Business Intelligence - Driver for business transformation in Insurance Industry

Published By: Wipro     Published Date: May 03, 2011
What sets the truly innovative and efficient companies apart is the way they put the underlying transaction data to use. Efficient and imaginative use of the data gives remarkable insights into the way the company conducts bu
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business intelligence, insurance, business transformation
    
Wipro

Case Management and its Implementation in the Insurance Industry Podcast

Published By: IBM     Published Date: Dec 07, 2010
Download this free podcast to learn why Insurers are utilizing Advanced Case Management to improve profitability and increase marketshare in a highly competitive industry.
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ibm, advanced case management podcast, acm, insurance, business intelligence, content management, collaboration, business analytics, content management system
    
IBM

Case Study: Reliance Life Insurance Corporation Gaining market leadership with self-service

Published By: IBM     Published Date: May 20, 2013
Reliance Life Insurance launched a comprehensive self-service portal solution that has enabled it to expand rapidly and cost effectively in India’s burgeoning life insurance market, and gain market insights into the kinds of offerings Indian consumers are looking for. By optimizing its product portfolio, Reliance was able to double its market share and become one of the most competitive companies. Getting the right products and features to market 50 percent faster enabled Reliance to emerge as an innovator in India’s life insurance industry.
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reliance life insurance, gaining, market, leadership, self-service, portal, solution, ibm, competitive
    
IBM

Compliance Management Case Study: Aon Corporation

Published By: Cornerstone OnDemand     Published Date: Aug 01, 2009
Insurance is a highly regulated industry that maintains strict licensing requirements. All Aon employees must be trained on certication and licensing requirements as mandated by government, industry associations and Aon's internal corporate governance. Download now to find out why they chose Cornerstone OnDemand.
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cornerstone, aon, compliance, employee development, training, web-based training
    
Cornerstone OnDemand

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

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

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

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

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

Digital reinvention - Trust, transparency and technology in the insurance world of tomorrow

Published By: IBM     Published Date: May 27, 2014
If insurers want to succeed in today's digital world, they need to create experiences and business models that are orchestrated, symbiotic, contextual and cognitive.
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ibm, big data, insurance, digital insurer, business model, insurance industry, technology, integration, social business, it management
    
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

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
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