Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at [email protected]

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

FINNOVATING

Finnovating is a Matching as a service platform that enables X-Techs from all around the word to connect , collaborate and get the funding they need to grow from investors and corporations globally. The Finnovating platform is a space were the key players of the Tech industry can connect together easily and boost global Tech innovations.

SONR

Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

Ways Insurers Can Leverage Big Data for Business Value – TCS

Article Synopsis :

Insurance carriers know how to crunch data to assess risk and create value for customers. Big Data analytics opens up new opportunities for risk assessment, product development, and value creation.

 The Digital Insurer reviews TCS’s Report on A Dozen Ways Insurers Can Leverage Big Data for Business Value

Twelve suggestions for earning returns on Big Data investments. 

In the white paper “A Dozen Ways Insurers Can Leverage Big Data for Business Value”, Ajay Bhargava from TCS outlines a high-level framework for harnessing and harvesting big data for improved business results. Specific use-cases include:

  1. Making performance improvements in existing data warehouse environments
  2. Detecting fraud
  3. Combining customer channels
  4. Optimizing call centre workloads
  5. Using telematics data to derive prescriptive and predictive value
  6. Leveraging cross-sell and up-sell potential
  7. Improving sentiment analysis to improve customer service
  8. Utilizing social media to introduce new products and services
  9. Closing the loop between pricing risk and claims
  10. Leveraging external data for more accurate pricing
  11. Enhancing intranet search capabilities
  12. Creating comprehensive customer satisfaction surveys

The paper also discusses with open eyes the challenges of working with big data, specifically:

  • The explosion of data and proliferation of channels
  • An increasingly competitive landscape, especially in the P&C and life sectors
  • Increasingly demanding regulatory regimes in North America and Europe
  • An unusually high number of catastrophic losses caused by brush fires, hurricanes, earthquakes, and other natural disasters in recent years
  • The challenge of synthesizing big data and small data environments
  • Siloed data environments

Link to Full Article:: click here

Digital Insurer's Comments

The digital insurer is adept at harnessing technology to achieve superior:

  • Customer-Centricity
  • Omni-channel Delivery
  • Product Innovation and Risk Management
  • Operational Efficiency

Though big data offers the potential for new levels of excellence in these areas big data initiatives are inherently complex. Defining a strategy is difficult, and then there’s selecting tools from a growing array of tools – never mind finding people skilled at wielding them.

Big data is a big category. This paper does an excellent job suggesting specific use-cases for insurers trying to figure out where to start.

Link to Source:: click here

Comments

Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in