An ideal quartet formation of a rock band consists of a voice, an electric guitar, a bass, and a drum kit. What else do we need to enjoy our favorite tunes and get inspired? There's another great quartet that could bring you fresh ideas and that is the insurance industry.
Resetting the risk dial – empowering the UK public sector to build back better. Public sector organisations in the UK had to respond rapidly to the pandemic when lockdown was announced in 2020. Policy changes were issued in quick succession and departments had to scramble to implement new solutions safely
It is widely recognized that the right price is crucial in insurance. Insurance is what is known as a ‘grudge purchase’: customers know it is necessary, but they hope never to use it. This traditionally and theoretically means that they want to pay as little as possible for their insurance
Data should alleviate strain instead of causing new pain Recent research from SAS and Accenture underlines what many of us already knew anecdotally. Marketers are increasingly frustrated by their inability to obtain and leverage insights into customer behavior. Marketing teams have data – heaps of data – but they are unable
Actuarial practice has always been analytical—so how much is advanced analytics disrupting this element of insurance? We discussed this issue in a recent #SASchat. The importance of competitive pricing Analytics is now being used in more and more areas in insurance, and particularly to tailor pricing more precisely to customers’
Catching up to the consumers Using technology and analytics to support marketing is not especially new. It is fair to say that it has been possible for some time. Many organisations have invested in marketing platforms, for example. However, there is a niggling problem. The investment may have been made, but few marketers are
Plant control is key for manufacturers to run their operations. Since the advent of computers, process industries have witnessed the impact of new technologies in terms of safety, stability and resiliency. Here is a five-decade overview of those technologies: 1950s: Electromechanical systems set the basis of modern process control by
There is general agreement that artificial intelligence (AI) has the potential to transform health care. However, there is also little doubt that this process has not yet really started. Hospitals and health care providers have been relatively slow to adopt AI solutions on a large scale. Beyond automation There are
In our previous section of the series we discussed the impact of missingness and techniques to address this. In this final section of the series we look at how we can use drag-and-drop tools to accelerate our EDA. As mentioned at the beginning of this series, SAS Viya offers multiple
The rest of society hates bankers’ bonuses—and banks should too. The bonus cycle weakens the business by prioritising short-term profit over sustainable growth. Bankers’ bonuses are a regular target for media outrage, resentment, and calls for reform. Yet what most members of the public don’t realise is that the first
