Tag: insurance

Analytics
Stuart Rose 3
The steps to using analytics…successfully

Advances in technology, evolution of the distribution channels, demographic shift, economic conditions and regulations changes. How does an insurer prioritize all these seemingly competing goals and create sustainable competitive advantage. One answer is analytics. Many insurance companies are just beginning to take steps toward becoming an “analytic insurer” – one

Stuart Rose 0
Data governance - the new prodigal child

The old adage is that “Data is the lifeblood of the insurance industry.” However, for many insurance companies, data is like the red-headed stepchild. No one is willing to take care or have responsibility for it. In the past, insurance companies have created data governance programs, but these have often

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

Data Management
Stuart Rose 0
Welcome to “data-driven decisions”

Business analytics is about dramatically improving the way an organization makes decisions, conducts business and successfully competes in the marketplace. At the heart of business analytics is data.  Historically, the philosophy of many insurers has been on collecting data, data and more data. However, even with all this data, many

Simon Kirby 2
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

Customer Intelligence
Stuart Rose 0
Is the customer experience overrated?

According to analyst firms, consulting companies and various other research, customer experience is the primary priority for insurance companies.  But is customer experience overrated? Let’s start by considering the primary interactions between an insurance company and its customers: new business, billing, renewals and claims. Ask any insurance executive, especially property

Dan Donovan 0
5 steps to fostering adoption of fraud analytics

Special Investigation Units (SIU) are extremely process-oriented and follow well-documented procedures to decide when a claim should be referred for investigation and what actions should be taken. Most of the staff are seasoned investigators who may be more inclined to trust their experience and tried-and-true processes than analytical techniques that