Dataversity

DECEMBER 12, 2023

The insurance industry and the broader risk management sector have long contended with Data Management issues. Updating and integrating legacy systems while ensuring quality across the board has proved difficult for most people in these fields.

Data Science 59

Data Science 59

Dataconomy

FEBRUARY 16, 2024

They can interview experts in the industry, research their competitors, and analyze trends. Research consultants need insurance to protect against potential liabilities arising from their work, such as errors or omissions in their research findings or recommendations. Research consultants are experts in many fields.

Computer Science 103

Computer Science Computer Science Analytics Analytics 103

Smart Data Collective

JUNE 3, 2021

Many different industries are becoming more reliant on machine learning. The insurance industry is among those that has found new opportunities to take advantage of machine learning technology. The market for data analytics in the insurance sector is projected to be worth nearly $22.5 billion within the next six years.

Machine Learning 98

Machine Learning Machine Learning Big Data Big Data 98

Smart Data Collective

DECEMBER 21, 2020

We previously talked about the benefits of data analytics in the insurance industry. billion from the insurance industry. However, major advances in AI have arguably affected the insurance industry even more. The insurance industry is evolving with new changes in AI.

AI 135

AI AI Big Data Big Data 135

IBM Journey to AI blog

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Supervised Learning 61

Supervised Learning AI AI Artificial Intelligence 61

IBM Journey to AI blog

MAY 9, 2024

The healthcare industry faces arguably the highest stakes when it comes to data governance. Inaccuracies might also lead to more delays or complications with insurance coverage. The solution lies in the ability to visualize patient data from different sources in one place. The consequence?

Data Governance 74

Data Governance Data Silos Data Quality Predictive Analytics 74

Flipboard

JUNE 26, 2023

Overview of solution In this post, we go through the various steps to apply ML-based fuzzy matching to harmonize customer data across two different datasets for auto and property insurance. The following diagram shows our solution architecture. Run the AWS Glue ML transform job.

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Dataconomy

APRIL 17, 2024

Health Insurance Portability and Accountability Act (HIPAA) : In the United States, HIPAA protects sensitive patient health information from being disclosed without the patient’s consent or knowledge. AI is seeping into every industry, you’d think there was nothing safe from it, including your data.

AI 113

AI AI Artificial Intelligence Artificial Intelligence 113

Dataconomy

DECEMBER 13, 2023

This Danish-born enterprise has been making waves across Europe, capturing accolades and revolutionizing the car rental industry. Oscar’s platform equips car dealers with the necessary technology and expertise to cover contracts, insurance, payments and marketing. market promises a seismic shift in the car rental landscape.

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Towards AI

APRIL 19, 2024

Generative AI companies are coming to the fore with astounding revelations that the industry is experiencing. It is time global tech giants and individuals at large understood the power that Generative AI brings along. The Global Generative AI market is projected to reach USD 66.62 billion mark by this year’s end (Statista).

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AI AI Artificial Intelligence Artificial Intelligence 87

Chatbots Life

APRIL 19, 2024

Now, let’s explore the impact of bots across various industries and their benefits analyzing available chatbot statistics. In specific industries, chatbots achieve conversion rates as high as 70%. Chatbots Industry Impact: B2C companies report twice as much satisfaction with chatbots as B2B companies, due to simpler queries.

AI 98

AI AI Natural Language Processing ML 98

Smart Data Collective

DECEMBER 19, 2022

Cloud technology has upended the medical industry in recent years. A cloud-based medical billing software program automates billing in order to help practices get paid faster, improve workflow efficiencies, help practice the IT solution for healthcare and keep patient information up-to-date. billion on cloud technology.

Cloud Computing 116

Cloud Computing Machine Learning Machine Learning 116

AWS Machine Learning Blog

MARCH 31, 2023

For our use case, we process an Acord insurance document to enable straight-through processing, but you can extend this solution to any use case, which we discuss later in the post. The insurance industry uses STP to streamline the underwriting and claims process. Insurance documents are inherently varied.

AWS 66

AWS Natural Language Processing Machine Learning Machine Learning 66

Dataversity

NOVEMBER 9, 2022

As more industries leverage artificial intelligence to support vertical-specific operations, many without experience in managing a virtual agent may soon do so. Just last year, for example, investment in Insurance technology topped $17 billion. However, many […].

Artificial Intelligence 52

Artificial Intelligence Artificial Intelligence AI AI 52

Smart Data Collective

MAY 23, 2021

AI (Artificial Intelligence) and ML (Machine Learning) will bring improvement in Fintech in 2021 as the accuracy and personalization of payment, lending, and insurance services while also assisting in the discovery of new client pools. For saving time and resources in Fintech Business on the need to involve Automation in it.

Artificial Intelligence 120

Artificial Intelligence Artificial Intelligence Machine Learning Machine Learning 120

Data Science Connect

JULY 23, 2023

The automotive industry is on the brink of a technological revolution, powered by the seamless integration of the Internet of Things (IoT). Enhanced Vehicle Safety and Driver Assistance One of the most significant benefits of IoT in the automotive industry lies in its potential to enhance vehicle safety and driver assistance.

Data Scientist 130

Data Scientist Internet of Things Natural Language Processing Analytics 130

ODSC - Open Data Science

NOVEMBER 1, 2023

Insurance fraud is rising, costing the industry billions annually. Don’t lose hope just yet —  machine learning is stepping up as the transformative solution you’ve all been waiting for. What Is Insurance Fraud? Insurance fraud is the act of lying to receive benefits from a claim you’re not entitled to.

Machine Learning 52

Machine Learning Machine Learning Predictive Analytics Data Science 52

ODSC - Open Data Science

NOVEMBER 30, 2023

For each error, we provide examples and solutions to fix them. Implementing Machine Learning for Fraud Detection in Insurance Claims Insurance fraud is rising, costing the industry billions annually. Don’t lose hope just yet — machine learning is stepping up as the transformative solution you’ve all been waiting for.

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Precisely

DECEMBER 21, 2022

In insurance, data is everything. Let’s explore the impact of data in this industry as we count down the top 5 insurance blog posts of 2022. #5 5 3 Steps to Increase Insurance Claims Satisfaction In the insurance world, a good digital CX is a distinct competitive advantage. . #5

Data Governance 52

Data Governance Big Data Big Data Analytics 52

Dataconomy

JANUARY 10, 2024

Unfortunately, this caused disruptions in important areas like title insurance, escrow, mortgage transactions, and real estate and mortgage technology services. Luckily, the incident didn’t affect FNF’s majority-owned subsidiary, F&G Annuities & Life, which offers insurance solutions.

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Precisely

JANUARY 29, 2024

LANDFIRE was not designed for the kind of fine-grained analysis required by insurance underwriters. Wildfire Models and the Insurance Industry Insurance carriers compete largely on their ability to accurately predict and price risk. Insurers also benefit by predicting potential damage. Read our eBook to learn more.

Analytics 59

Analytics Analytics 59

AWS Machine Learning Blog

MAY 9, 2024

The rapid advancements in artificial intelligence and machine learning (AI/ML) have made these technologies a transformative force across industries. According to a McKinsey study , across the financial services industry (FSI), generative AI is projected to deliver over $400 billion (5%) of industry revenue in productivity benefits.

ML 106

ML ML AI AI 106

IBM Journey to AI blog

NOVEMBER 30, 2023

When lumbermills were shuttered during the 2023 Canadian wildfires, the limited availability and higher price of lumber was particularly hard on the housing industry across North America. Develop proactive solutions Mitigate risks by proactively minimizing economic and environmental damage from severe weather events.

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Dataconomy

MAY 26, 2023

With all the recent buzz around ChatGPT, industries are looking for ways to leverage generative AI to gain a competitive edge. ” You can navigate through the hype and make confident investments in practical and valuable solutions for your business only when you’re ready.

AI 70

AI AI Data Quality DataOps 70

Smart Data Collective

AUGUST 7, 2019

The insurance industry is one of the companies investing the most in big data technology. Exactly one year ago today, SNS Telecom & IT published a report highlighting the demand for big data in the insurance industry. The report showed that insurers spent $2.4 billion on big data in 2018 alone.

Big Data 76

Big Data Big Data Analytics Analytics 76

IBM Journey to AI blog

OCTOBER 30, 2023

Real-world Business Solutions The real value of any technology is measured by its impact on real-world problems. One of the largest children clothing retailer in the US utilizes this solution to streamline its complex supply chain. A leading insurance player in Japan leverages this technology to infuse AI into their operations.

AWS 85

AWS AI AI Data Warehouse 85

Dataconomy

MARCH 27, 2024

AI has transformed many industries, from automating repetitive work to enabling data-driven decisions. AI impact on business sectors AI is now in almost all industries, from finance to healthcare. AI can detect fraud in the financial industry. Let’s explore 2 AI technologies that are changing industries.

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IBM Journey to AI blog

JANUARY 15, 2024

As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., Start your journey toward efficient, AI-powered process optimization.

Data Silos 74

Data Silos AI AI Artificial Intelligence 74

IBM Journey to AI blog

SEPTEMBER 11, 2023

IBM and AWS have been working together since 2016 to provide secure, automated solutions for hybrid cloud environments. This partnership gives clients the flexibility to choose the right mix of technologies for their needs, and IBM Consulting can help them scale those solutions enterprise-wide.

AWS 114

AWS AI AI Data Warehouse 114

Smart Data Collective

JANUARY 17, 2022

In response, organizations across all industries have invested in more dynamic data collection and analysis solutions in order to gain a competitive edge. However, it is particularly important for the healthcare industry for a variety of reasons. Big data is going to be even more important in healthcare after the pandemic ends.

Big Data 135

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Alation

APRIL 13, 2021

He works with Snowflake partners to craft joint solutions. He shows how Texas Mutual Insurance Company has embraced data governance to build trust in data. While one might be quick to point out that a data modernization project could help users trust the data, that is only part of the solution. Subscribe to Alation's Blog.

Data Governance 98

Data Governance Data Silos Data Quality 98

Chatbots Life

MAY 15, 2023

In this blog post, we’ll explore some of the top use cases for Generative AI across multiple industries you can use to contain and convert your customers. If your company has already implemented a chatbot solution for call center automation , you don’t need to start from scratch to integrate Generative AI into your customer service system.

AI 96

AI AI Artificial Intelligence Artificial Intelligence 96

AWS Machine Learning Blog

JANUARY 22, 2024

Others have built custom solutions, but these can be costly and difficult to scale, and take significant time to implement. In this post, we walk you through a step-by-step implementation guide to build a vaccination status verification solution using Amazon Textract Queries. Test the solution Now it’s time to test the solution.

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Smart Data Collective

MARCH 28, 2019

The life insurance industry will soon undergo a dramatic transformation in response to advances in big data. A number of insurance executives have been reluctant to embrace the changes of big data. However, a growing number of insurers are starting to appreciate the need. Big data is assisting with many of these issues.

Big Data 82

Big Data Big Data 82

IBM Journey to AI blog

MARCH 20, 2024

For highly regulated industries, these challenges take on an entirely new level of expectation as they navigate evolving regulatory landscape and manage requirements for privacy, resiliency, cybersecurity, data sovereignty and more.

AI 80

AI AI 80

AWS Machine Learning Blog

JUNE 16, 2023

SambaSafety serves more than 15,000 global employers and insurance carriers with driver risk and compliance monitoring, online training and deep risk analytics, as well as risk pricing solutions. However, they sought support to deploy this solution for batch and real-time inference in a consistent and reliable manner.

AWS 76

AWS Data Science ML ML 76

phData

MAY 12, 2023

In today’s data-driven world, industries across the board are turning to advanced tools and technologies to gain deeper insights and improve their decision-making processes. Together, these tools provide a powerful solution for overcoming financial challenges. What is KNIME & Snowflake? Oh–and it’s free.

Data Warehouse 72

Data Warehouse Machine Learning Machine Learning Database 72