Anyone who believes that digitization has made the issue of insurance fraud go away is unfortunately wrong. One in ten reported damages and claims are still invented or manipulated. The cost: at least €5 billion per year in Germany alone for property and casualty insurance. In other words, not even including
The current excitement about self-service analytics centres around two main areas. The first is the rise of ‘citizen data scientists’, business users who are using self-service analytics to produce insights. They are drawing on a combination of their knowledge of the business, a level of comfort with analytical technology and
As a part of my work, I often meet organisations, mostly in manufacturing and retail, who would like to adopt advanced analytics but are not sure where to start. One reason being that advanced analytics has been an ‘intellectual property’ of a core group of people. It is often accused of being complex to
APIs (Application Programming Interfaces) are everywhere. We use them every day, whether we are aware of it or not. They are basically the bridges that enable one piece of software to talk to another - Uber’s app to Google Maps, for example, or Amazon’s Alexa to music-playing services or train
Almost all organizations (98%) see challenges in complying with the General Data Protection Regulation (GDPR). The biggest challenge is to know when enough has been done to comply. Organizations are looking for clearer guidelines on this. GDPR, the new European regulation on data protection, really should be on the agenda
Application programming interfaces, otherwise known as APIs, are set to radically change the face of analytics. These little bits of code are working behind the scenes, hidden treasures that allow two pieces of code to talk to each other. This means that developers can borrow functionality from other apps.
On-demand streaming and YouTube ought to have spelled the end of live music and concerts. Why would anyone go to an event when they could stay at home and listen to the same music — sometimes streamed live from the venue — in the comfort of their home? Conferences and
Reading quite a lot of the press and commentary about analytics, you could be forgiven for thinking that these techniques were only usable for customer-facing work. Improving sales and marketing? Yes, you want analytics, using Big Data about your customers. But there are plenty of internal and operational issues where
Are you looking for an insurance policy online? Want access 24/7? Ever wondered why many insurance giants are not yet fully digital? Digitization is not yet common among traditional insurance companies, although it has already happened in other industries and in insurance technology (InsurTech) companies. This is perhaps surprising, because
Ever wondered about the volume of calls to banks? It is probably inevitable that banks would turn to chatbots sooner or later. Chatbots offer huge opportunities for banks across three broad dimensions. Efficiency and opportunity The most expensive forms of interaction with customers are the personal ones: face-to-face, and by
