Understanding Content: Machine Learning & the Modern Insurer
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In today’s digital world, insurers are literally drowning in content. Accident photos, policy applications, statements, customer emails and SMS messages -- these are all content that underpins your business and your customer experience. Yet for most insurers, content remains a massive business challenge: difficult to find, hard to process, impossible to analyze, and oh so expensive. Discover how AI and machine learning can be used to transform your content into a business advantage. We'll share real examples of how other P&C and Health insurers are using these technologies to automate virtual claims, intelligently process policy applications, detect fraud, and even gain new insight into accident damage. You will learn: - How AI uniquely addresses your content challenges - Why custom ML models deliver more value - What “content lakes” are, and what value they add - How to take your first steps with AI
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Understanding Content: Machine Learning & the Modern Insurer
- 1. Understanding Content: MachineLearning& theModernInsurer Chris McLaughlin Chief Product & Marketing Officer ThibaudArguillere Technology Evangelist
- 2. Speakers 2 Chris McLaughlin is Nuxeo’s Chief Marketing Officer and Chief Product Officer, guiding the global product, go-to-market strategy. Prior to joining Nuxeo, Chris served in a number of executive roles in Dell EMC’s Enterprise Content Division, most recently as CMO. Today, Chris has over 20 years of experience in enterprise software with both small, growth-stage and large, global software organizations. Thibaud Arguillere is the Senior Solutions Architect at Nuxeo, producing demos and demonstrating the value of the Nuxeo Content Services Platform. Prior to joining Nuxeo, Thibaud was a Technology Evangelist and Senior Software Developer, and before beginning his career in IT, he spent 15 years as a medical doctor specializing in emergencies.
- 3. 20+yearsof EnterpriseContent Managementand nothing has really changed.
- 4. Organization’s systems are not fully connected to each other Time spent daily looking for information See the potential of AI to automate mundane tasks *Results of a November 2019 survey of UK Financial Services companies Believe their organization lacks the skills to capitalize on AI Average number of solutions 60% 60% Theoldwayof managing content & data isn’treally working anymore.
- 6. Prioritiesformodern insurers 6 Customer Experience CloudAdoption ComplianceEfficiency& Automation
- 7. Prioritiesformodern insurers 7 Customer Experience CloudAdoption ComplianceEfficiency& Automation
- 8. Intelligent contentstarts withdata 8 Information=data+content Readily accessible Contextual Available anywhere Governed & secure
- 10. Anumberofpublic cloudservicesforAI… 000100011101011 1000111010111010 11101011001100111 1010110011100011 1100110010111001 § Pretrained machine learning models § Provide commodity services: ⁃ OCR/ICR ⁃ Sentiment analysis ⁃ Translation ⁃ Transcription (speech-to-text) ⁃ Facial/celebrity recognition ⁃ Etc. § Stackable or stand-alone § Look for standardized approach to connect § Butbewarethelawoflargenumbers
- 11. Land Vehicle Vehicle Car Motor Vehicle Transport Parking Mode of Transport Van Automotive Tire Bumper MinivanTire Sport Utility Vehicle Family Car Vehicle Registration Plate Chevrolet Tahoe Asphalt Gas Minibus Genericservices=genericdata Note:Depictsactual datageneratedfromaccidentimagebyGoogleCloudVisionAPIservice Demos ability of AI/ML to apply data to assets Generally useful in increasing findability and reuse Relevancy and accuracy of the model is inherently limited 1 2 3 Model returns a set of labels lacking business-critical data elements 4
- 12. CustomMLmodels= business-specificdata Brand: Chevrolet Model: Tahoe LicenseSt.: Illinois LicenseNo.: K24 1771 Custom models produce much more relevant data values 1 True entity extraction enables workflow automation 2 Business value inherently increases with specificity of the data generated 3 Veh.Color: Gold Mist Metallic Brand: Dodge Model: Ram Van LicenseSt.: Illinois LicenseNo.: XXX 8242 Veh.Color: Bright White Operator: John Smith
- 13. Enrichingcontent acrossrepositories 13 Master Metadata Model Metadata A Metadata B Metadata C Metadata D Metadata E Metadata F System1 System2 System3 System4 Systemn Metadata A Metadata B Metadata C Metadata D Metadata E Metadata A Metadata B Metadata C Metadata D Metadata E Metadata A Metadata B Metadata C Metadata D Metadata E Metadata A Metadata B Metadata C Metadata D Metadata E Metadata A Metadata B Metadata C Metadata D Metadata E
- 14. Intelligentautomation forroutinetasks 14 Whatform is it? Is itcomplete? Has itbeen signed? Form Processing Yes No 1 Classification 2 Exception handling 3 Entity extraction 4 Intelligent routing
- 15. Bringnewinsightto yourbusiness 15 1 Image processing 2 Fraud detection 3 Damage comparison 4 Intelligent routing Duplicate photo? Damage Estimate Yes No
- 16. 16 Thesimple promiseofAI Understandcontentand dataaswellasa knowledgeablehuman, butatscale. Predictively deliver information Identify outlying data points Analyze usage & importance Recognize patterns & connections
- 17. Prioritiesformodern insurers 17 Customer Experience CloudAdoption ComplianceEfficiency& Automation
- 21. Silosaren’t goingaway § Information silos are a reality of the modern workplace § Content-centric apps are multiplying and many offer rich user experiences § People will continue to use apps and services that make them more productive § The ECM approach was to put everything in one repository § Clearly, this is not a viable approach for modern content management
- 22. Contentasan enterpriseservice 22 Applications Content/Case Management Solutions Business & Productivity Apps MobileApps & Services … ContentServices Platform Content Models & Lifecycles Content Delivery AI/ML & Enrichment EnterpriseCase Management Data Model Security & Audit Query & Search Ingestion UniversalDataModel Comprehensive API Data & FileStorage Legacy ECM AmazonS3& Glacier EFSS … § Establish a common service for content, regardless of where it is stored ⁃ Single API for access to content ⁃ Standard data model § Deliver information when, where and how it is needed ⁃ Support mobile access and customer self- service use cases ⁃ Access to content in the “context” of the work users are performing ⁃ Rapidly develop purpose-built content & case management applications
- 23. Prioritiesformodern insurers 23 Customer Experience CloudAdoption ComplianceEfficiency& Automation
- 24. Thelast20years vs.thenext5 24 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 2000 2005 2010 2015 2020 NumberofDocumentsMillions 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 2021 2022 2023 2024 2025 Actualcustomerexample: 2B customer communications annually 3B SMS & email messages annually
- 25. Cloudshouldbe aboutchoice § No longer on-premises vs. cloud § No “one size fits all” § Self-managed vs. vendor-managed § Hybrid configurations due to regulations § Need to support customer preferences § And operate at Cloud scale…
- 26. Architecture matters 26 § Individually scalable services § Elastic scaling for peak volumes § Multi-tier archiving support (Glacier) § Serverless scalability for compute- intensive activities § Edge caching and CDNs for global delivery § Open architecture to support customer preferences
- 27. Prioritiesformodern insurers 27 Customer Experience CloudAdoption ComplianceEfficiency& Automation
- 28. Currentcompliance mandates § General Data Protection Regulation (GDPR) § CaliforniaConsumerPrivacy Actof 2018 § Insurance Conduct of Business (UK) § ADA, UK Equality Act, EU Codes “GDPR went into effect in May 2018 and requires consent from consumers before their data may be used. Among numerous protections, consumers will need to be informed if their data is moved outside the European Union, havetherighttobe“forgotten,” and will be given a chance to contest the use of automated algorithms. Violations come with serious fines—up to4percentofacompany’s worldwidenetsales. -Deloitte,2019InsuranceOutlook
- 30. Customercommunications inthecloud “The traditional drivers of cloud computing—cost savings and pay-as-you-consume contracts—will likely continue to push usage. Yet the next round of adoption will likely be driven by other key benefits that cloud offers—namely speed, flexibility, and scalability.” - Deloitte, 2019 Insurance Outlook Solution 2Solution 1 Solution 3 KafkaNoSQL Elasticsearch Content Applications Nuxeo Content Platform Library ServicesAnalytic Services Process Services Security & AuditData Model Query & Search Bulk Load Framework RESTful API CCM Gateway Index Transform Capture Load Burst
- 33. Questions?
- 34. Thank you for your time today! Read the complimentary Gartner Magic Quadrant to help you evaluate vendors’ ability to deliver Content Services Platforms (CSPs) that enable and empower digital business. https://www.nuxeo.com/resources/gartner-magic- quadrant-content-services-platforms/ Thankyou