Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Five Ways Big Data Analytics and Artificial Intelligence are Transforming the Insurance Industry - Business Intelligentsia DC

67 views

Published on

Insurance providers collect a huge amount of data from their customers. They hand it over to actuaries and underwriters, who evaluate risks of insuring people and organizations using various actuarial data, claims data, and various techniques and proprietary methods. From there, the gross and net premium are calculated, a policy is issued, and we’re off to the races.

Problem is, the way things have been done up until now isn’t scalable.

Data sits in what is essentially siloed computer systems. Underwriters don’t (or can’t) communicate with agents and brokers very easily. And, insurance agents can’t easily share data across different offices.

It’s also somewhat difficult to analyze the data and use it. Once it’s pulled off the application, it just sits there in a database somewhere. Outdated information costs money in lost sales.

This is why large insurance companies and many brokers are upgrading their systems — so they can take advantage of Data Analytics and use it to its fullest potential. It’s beginning to play a larger and more important role in every aspect of the industry.

About Simtelligent
We are an enterprise solutions provider working diligently to add value and transform visions into realities for firms in the medical and manufacturing industries. Visit: www.simtelligent.com.

About MakeOffices
We provide turnkey, flexible workspaces, all-inclusive amenities (fast WiFi, coffee & beer, 24/7 access), events and organic networking opportunities to make connections and meet customers, all in a professional and authentic environment. It's everything you need to grow your business. Visit: makeoffices.com

About BoldPM
A product marketing and management consulting firm that helps executives, senior managers, and product teams transform ideas into insanely great products and great products into a great business that outperforms competitors. We're passionate about building and marketing products customers love to achieve massive business growth.

If you are an engaging speaker, BI expert or thought leader and want to propose a suitable topic and demo for a future meetup, visit: http: bit.ly/bidcsponsor

Contact: hector@boldpm.com Connect: linkd.in/hdelcastillo Visit: bit.ly/dcbintel

Published in: Business
  • Be the first to comment

  • Be the first to like this

Five Ways Big Data Analytics and Artificial Intelligence are Transforming the Insurance Industry - Business Intelligentsia DC

  1. 1. Check In CHECK IN TO GET A LINK WHERE YOU CAN VIEW THE SLIDES. CHECK IN: BIT.LY/BIDCCI0619 CONNECT: LINKD.IN/HDELCASTILLO
  2. 2. bit.ly/dcbintel
  3. 3. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM Source: How Do Those Car Insurance Tracking Devices Work?, U.S. News & World Report, Feb 2018
  4. 4. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  5. 5. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  6. 6. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  7. 7. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  8. 8. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  9. 9. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  10. 10. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  11. 11. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  12. 12. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  13. 13. © 2019, H. Del Castillo, Byond. All Rights Reserved. BoldPM
  14. 14. • Facts + Statistics: Industry Overview, Insurance Information Institute, Inc. • 5 Ways Technology Is Reshaping the Future of Insurance, Risk & Insurance, May 2018 • How Artificial Intelligence Is Reshaping The Insurance Sector, Insurance CIO Outlook, January 2019 • Insurance 2030 —The Impact of AI on The Future of Insurance, McKinsey
  15. 15. Hector Del Castillo hector@boldpm.com linkd.in/hdelcastillo www.hmdelcastillo.com

×