With 90% of carriers actively investing in new data projects, project failure is not an option.
Artificial intelligence (AI) and machine learning (ML) have become mainstays in the insurance industry, equipping insurance companies with tools that can help them to become more efficient and profitable than ever before. But with the stakes so high, carrier executives are immobilized - the volume of cutting-edge data sources has exploded and the vast majority won’t implement a project if they’re not
Technological innovation and intensifying competition are forcing leaders to rethink how they use Key Performance Indicators (KPIs) to manage and direct organizations. Digitization has reinforced the importance of Key Performance Indicators not only in enhancing employee performance but driving the overall organizational productivity.
The role of KPIs is becoming more dynamic. KPIs are getting demonstrably flexible, smarter, and valuable in achieving strategic advantage. Leading technology-dri
The insurance industry is facing the challenges of disruption caused by the technological advancements in artificial intelligence (AI) and machine learning (ML). Insurance carriers are now able to know more about their customers than ever before. They can use data mining with AI and ML to develop compelling product offerings. Customers may enjoy a more personalized experience that has faster and more accurate claims processing capabilities resulting in vastly improved customer service.
Is your o
As customer expectations have risen thanks to new platforms and products, so too has the level of technological sophistication as artificial intelligence, chatbots, drones, telematics and apps have become common in multiple industries. The insurance industry is now at a critical juncture as carriers seek to transform their claims processes, using new technologies to meet rising customer expectations and reduce costs. According to a recent survey, over 70% of insurance carriers are looking to inv
As insurance carriers look to technology to meet customer demands at scale, how carriers react to competition and rising customer expectations today will define their success tomorrow. From providing bespoke products, instant customer service and real-time risk monitoring, the likes of AI, machine learning and other innovative technologies are proving the only means through which insurance carriers can meet the high demands of consumers today.
Likewise, managing the backend requirements of the te
In an age where customers are demanding their Insurance Carrier be more like Amazon or PayPal with a smooth, touchless customer experience, Insurance Carriers face multiple obstacles to satisfying this demand. Chief among them is the overwhelming multitude of technologies available to reach that touchless claims goal.
77% of insurance carriers will invest in automation in the next few years to achieve seamless claims. The incredible potential to leverage technology stretches across the claims la
LONDON, 22 NOVEMBER 2019: Insurance leaders to join Insurance Nexus to discuss strategies to successfully implement insurance technology, Wednesday, December 11, 10am EDT.
It is generally now accepted that for insurance, innovation is a ‘must-have’, rather than a luxury. To attract and retain consumers today, to remain competitive and efficient in business, Insurance companies are increasingly turning to the growing number of technological solutions on the market, such as AI, chatbots, automation
Modern data center networking aims to manage clients with multiple data center workloads. In such a network, servers are the components that provide the necessary services to users (and the programs that run on their behalf).
Responses to API function calls may be the most basic forms of such networking services. Servers can provide applications for users/clients via Web protocols, language platforms, or virtual machines that will provide full desktops to users.
A data center
DoorDash has admitted that it has been the victim of a data breach, which has affected about 4.9 million merchants and people.
In a recent blog post, DoorDash announced that it noticed some odd activity early in September from a third-party service. After looking into it, the company found that an unauthorized third party was accessing user data from DoorDash on May 4, 2019. DoorDash immediately took steps to stop any future access and to improve security.
Those who were affected by this breach jo
Connected Insurance USA Summit (Nov 20-21, Chicago) is bringing together over 700+ senior insurance leaders to redefine the future of insurance.
With over 350 executives already registered to attend, this will be the largest executive gathering for forward-thinking carriers. CEOs, COOs, CMOs, SVP and VPs from Product, Customer, Claims, Technology and Innovation know that this is the time to act and leverage innovative technology to boost efficiency and customer experience or risk survival. This
Building on its previous success, Insurance Nexus are delighted to announce the return of the Connected Insurance USA Summit, which will take place November 20-21 at the Radisson Blu Aqua Hotel, Chicago Illinois.
As new technologies from artificial intelligence to IoT technology continue to enable both operational efficiency and superior customer experiences, evidence shows that now is a critical time for insurance transformation in North America. Integration of technology at scale, in concert wi
LONDON: C-level summits focusing on convergence of insurance and technology to return to London, Chicago, Toronto and Amsterdam in 2020, Insurance Nexus have just announced.
Statistical and anecdotal evidence suggest the global insurance industry is in an unparalleled state of flux; new technology has entered the market at the same time as a focus on customer-centricity has pervaded virtually every industry. Accordingly, 96% of 500 respondents to a recent Insurance Nexus survey agreed that “carri
The ability to accurately discern the past and predict the future based on nothing but data points and the experience of actuaries and adjusters has served the industry well up to now. Insurance is, after all, a multi-billion-dollar, truly global industry. While this remains the case, the landscape is now radically different to the past, thanks in part to the advent of the Internet of Things (IoT). The use of these technologies that collect, record and transmit live data has proliferated exponen
The problem for cyber security in the life insurance sector is very severe, as is the case in other sectors such as banking, healthcare, etc. The insurance industry has a huge amount of client data and clients have a lot of confidence in the organizations with whom they do business.
What is insurance fraud detection?
The insurance industry is moving to a contemporary paradigm that focuses on risk mitigation and prevention instead of financial loss compensation. This is driving the development of n
To address this question, and more, Insurance Nexus will be joined on Wednesday, September 8th for an exclusive webinar, Key Strategies to Deliver for Future Readiness, taking place at 11am ET. Moderator Paul Winston (Chief Operating Officer, Insurance Thought Leadership) will be joined by Scott Steele (Vice President and Chief Marketing Officer, Church Mutual Insurance Company) and Racquel L Santana (Vice President, eBusiness Strategy and Execution, Travelers) to discuss the strategies they are
As big organizations are storing a large amount of data on various online platforms, the news headlines about data breaches are increasing with each passing day. This puts partners, customers at major risk. Hence, all companies need to make efforts to stay safe from risks and threats associated with data breaches.
Below we have listed a few most common causes behind data breach so that you can take appropriate actions to prevent them:
Weak Passwords
Some of you may consider hacking attacks as the m
There are 12 categories of awards, recognizing teams and leaders from across customer, claims and innovation units, as well as from product, business, brokering and leadership positions. The ‘North American Business Transformation of the Year’ category recognizes an organization who has significantly transformed how their business operates over the past three years and are seeing tangible benefits from this transformation. The judges were tasked with identifying the greatest impacts from technol
To some, it is magic. To insurance, it is reality. The ability to accurately discern the past and predict the future based on nothing but data points and the long-lived experience of actuaries and adjusters has served the industry well up to now, allowing insurance to become the multi-billion-dollar industry it is today. The past few years, however, have witnessed in a dramatic shift to this picture, prompted by the advent of the Internet of Things: technologies that collect, record and transmit
HR analytics is now a days a well-known solution popular among proactive organizations worldwide. HR Analytics makes it possible for organizations to measure and interpretate employee’s data for the betterment of employee performance, team relation, training and development thereby making the organization profitable. Though HR department is quite available in most of the organization to look after the employee engagement within organization and evaluate performance of the team/ team members amon
CHICAGO: Insurance Nexus webinar to explore how insurance carriers can collaborate with brokers and clients to build customer-centric cyber insurance policies, July 30th, 11am ET
Cyber-crime is not new, but as the methods of nefarious actors have become more sophisticated, the defensive capabilities of organizations have failed to keep pace. Cyber-attacks on organizations show no signs of abating, they are becoming increasingly indiscriminate in their targeting, with small and medium sized firms
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