McKinsey recently reported that "Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade" and that "The insurance industry is facing a serious structural challenge ... the majority of carriers are not making...
By: Zoe Zhou There is a common high-level customer journey for insurance customers. The customer researches providers and policy options. Once a preferred provider and policy are decided, the customer applies for the policy. If they are approved the policy...
In February, we published a blog post on “Using Technology to Add Value in Insurance”. That post, referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question?, in which he states that there are only three levers of...
In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question?, in which he states there are only three levers of...
In February, we published a blog post on “Using Technology to Add Value in Insurance.” In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question?, in which he argues that there are only three...
Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science...
Matt Josefowticz wrote a great piece recently - Technology May be the Answer for Insurers, but What Was the Question? In this he argues that there are only three levers of value in insurance: 1. Sell More 2. Manage Risk Better (aka underwriting and...
To keep processing costs low, many insurance carriers have a goal to increase the percentage of their claims that can be processed and decisioned with no human decision-making involved. This is called increasing the rate of straight-through processing (STP). Perhaps...
80% of data and analytics leaders with global life insurance and property & casualty carriers surveyed by McKinsey reported that their analytics investments are not delivering high impact. What’s stopping them from delivering high impact? 38% of those surveyed...
A key way for insurers to respond to disruption in the insurance market is to more effectively personalize their marketing. Targeting prospects and especially customers with unique, personalized messages is a way for traditional carriers to be “disruptive”. Indeed...
Learn how to deliver data-driven claims handling decisions to maximize straight-through processing and minimize risk. Free 30' Express Webinar This webinar has taken place - slides and recording are available on SlideShare. A claims handling pilot delivers data-driven...
Learn how to deliver data-driven marketing decisions directly into the customer journey. The webinar has taken place. View the presentation and recording here. A next best action pilot delivers data-driven marketing decisions directly into the customer journey. Using...
Happy New Year! 2017 saw strong growth in decision management and decision modeling with DMN, especially in claims, underwriting, marketing and origination. Customers increasingly are choosing Decision Management to integrate advanced analytics, business rules and AI...
The webinar has taken place. View the presentation and recording our SlideShare channel. Learn how you can automate decisions to handle more claims without manual intervention. Boost your Jet or Straight Through Claims Processing rates to new heights to reduce costs,...
The webinar has taken place, view the presentation here. Attend this free webinar to learn how you can quickly deploy next best action decisions that deliver the right marketing or customer service message to each customer, each time you interact with them. Learn from...