Search Results: INSURANCE (459)

Analytics
Ketil Kristensen 0
How do you adapt your insurance pricing strategy in the face of increased price competition?

Many countries in Europe have in previous years experienced increased price competition for general insurance products. Especially in Southern Europe, the competition has been very fierce, fueled by online price comparison websites. In Spain, Portugal and Greece, there has been a substantial drop in average premiums for products like motor,

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English
Insurance
Analytics | Fraud & Security Intelligence | Risk Management
Ilkay Aydogdu 0
Three digital transformation challenge areas ahead for insurance providers in Turkey

Since the start of the COVID-19 pandemic, SAS has formed dedicated global teams to predict and monitor the pandemic’s course and identify the likely impact for customers. In Turkey, we have identified three main risk areas for insurers and have set out some strategies to help our clients respond, recover

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English
Insurance
Fraud & Security Intelligence
Stavros Stavrinoudakis 0
The last part of the blog post series “A practical guide to tackle auto insurance fraud” – Part 7: Operational Processes and Automated Controls

This is the seventh and last part of the blog post series “A practical guide to tackle auto insurance fraud”. In the first six articles of the series we drilled down to: Data Management and Data Quality as the basis for fraud detection analytics. Business Rules and Watch lists techniques

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English
Insurance
Analytics | Fraud & Security Intelligence
Jen Dunham 0
Opioid schemes fueled by staged car accidents, insurance fraud

Criminal enterprises are tapping into the lucrative opioid business through creative schemes that are less likely to be identified as opioid abuse, misuse or diversion. One of the latest schemes? Auto insurance fraud. First, some background… While extensive progress has been made in establishing, improving, and mandating prescription drug monitoring

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English
Government
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Data Governance by a Standard Data Model for Insurance

  Using a standardized data model is an essential condition to achieve data governance in an enterprise. A standard data model supports data governance processes by implementing industry standards wherever possible: standards for contract and claims representation, mapping of data content with standard definitions (glossary function), use of code attributes

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Stuart Rose 0
How social brokers is changing insurance

“All for one and one for all” is best known as the motto from “The Three Musketeers”, but this phrase could easily sum up the growing trend in social brokers. With advanced analytical techniques like generalized linear modeling insurance companies have created more granular pricing structures. But despite the assertions

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English
Stuart Rose 0
Innovation in reinsurance – no longer an oxymoron

Insurance is a tough marketplace, but in many respects reinsurance is tougher! Today, the reinsurance industry is faced with an unprecedented number of challenges especially with what appears to be an increasing frequency and severity of man-made and natural catastrophes. To combat these challenges, reinsurers are turning to technology for

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English
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Advantages of a standard insurance data model

In my first blog article I explained that many insurance companies have implemented a standard data model as base for their business analytics data warehouse (DWH) solutions. But why should a standard data model be more appropriate than an individual one designed especially for a certain insurance company?

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Faster, easier, safer: a standard data model for insurance

Nothing works today without an efficient data management – also in insurance business. A standard data model can be an important component of it. This article explains why. “Make or Buy”? This question has been raised very often by insurance companies planning to introduce a consistent data structure – a

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Viktor Hirvela 0
The era of smart insurance is dawning

What if a reckless driver adopted a more responsible approach because the car insurance pricing was based on driving habits? What if the senior from next door had the insurance payments based on kilometres driven, resulting in significant savings? This may be reality sooner than you think. The Internet of Things will revolutionise

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Internet of Things
Viktor Hirvela 0
The era of smart insurance is dawning

What if a reckless driver adopted a more responsible approach because the car insurance pricing was based on driving habits? What if the senior from next door had the insurance payments based on kilometres driven, resulting in significant savings? This may be reality sooner than you think. The Internet of Things will revolutionise

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English
Stuart Rose 0
Insurance and the rise of the Chief Risk Officer

The role of insurance is to bring some predictability, manageability and stability to a chaotic and uncertain world.  In essence, it is a risk mitigation tool. The role of the Chief Risk Officer (CRO) is to manage the overall risk strategy for the insurance company. They are responsible for defining

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Simon Kirby 0
Helping small businesses through the insurance minefield

Insurance can be a complex business, so filing an insurance claim can be daunting task for many small businesses. When an incident does occur, be it property damage, business interruption, professional indemnity or public liability among the myriad of other potential causes of loss, it is typically a period of

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