This document discusses how blockchain could transform the insurance industry by allowing for more efficient data sharing and automated processes. It describes the key activities of an insurance company and how each could be improved with blockchain. For example, blockchain could create a shared data registry so that customer and asset data only needs to be entered once rather than re-entered for each party. This would reduce errors and fraud. Smart contracts could also automate claims processing and payments. The document considers how new blockchain-based insurance models like peer-to-peer or parametric insurance could disrupt traditional insurers if they do not adapt.
AI Underwriting Case Study for Life Insurance company Artivatic.ai
AUSIS (AI Underwriting Platform) helped a Life Insurance Giant in India to improve their complex underwriting journey to be simple, automated & in real- time.
Life Insurance companies are regulated by IRDA in India and also life insurance companies uses old age legacy processes, systems, risk assessment models and rule based outcome.
To know more, write to contact@artivatic.ai or visit www.artivatic.ai
Blockchain and it’s importance on Insurance IndustryArtivatic.ai
Blockchain is a distributed ledger that is broadly discussed as a technology with huge innovation potential in all areas of financial services To date, it is largely in the banking arena where blockchain use cases have been identified. However
the blockchain technology also offers potential use cases for insurers that include innovating insurance products and services for growth, increasing effectiveness in fraud detection and pricing, and reducing administrative cost In these application areas insurers
could address some of the main challenges they are facing today such as limited growth in mature markets and cost reduction pressures.
Chatbots: The New Sales Agent in Insurance IndustryArtivatic.ai
According to some estimates, chatbots are expected to generate over $8 billion in savings globally by 2022, while also offering 24x7 customer service, lower processing time, faster resolution and straight-through processing, leading to increased customer satisfaction. However, when chatbot interactions are mechanical, non-conversational or inferior to human-based conversations, the initiative can lead to a loss of business.
Insurers are exploring the blockchain as they see vast potential in this new technology, most common research topics being : travel insurance and crop insurance. With crop insurance : If the bad weather causes any damage to the crops then a smart contract can confirm the loss using weather data and pay claims automatically. Similarly, in case of travel insurance, if the flights gets cancelled by the airline due to a covered reason, then a smart contract built using blockchain technology could automatically enact payment to those with insurance.
How Blockchain Can Reinvigorate Facultative Reinsurance Contract ManagementCognizant
Blockchain is ideally suited for streamlining and securing the cumbersome facultative reinsurance contract management process by offering trust and transparency and all the benefits of smart contracts.
AI Underwriting Case Study for Life Insurance company Artivatic.ai
AUSIS (AI Underwriting Platform) helped a Life Insurance Giant in India to improve their complex underwriting journey to be simple, automated & in real- time.
Life Insurance companies are regulated by IRDA in India and also life insurance companies uses old age legacy processes, systems, risk assessment models and rule based outcome.
To know more, write to contact@artivatic.ai or visit www.artivatic.ai
Blockchain and it’s importance on Insurance IndustryArtivatic.ai
Blockchain is a distributed ledger that is broadly discussed as a technology with huge innovation potential in all areas of financial services To date, it is largely in the banking arena where blockchain use cases have been identified. However
the blockchain technology also offers potential use cases for insurers that include innovating insurance products and services for growth, increasing effectiveness in fraud detection and pricing, and reducing administrative cost In these application areas insurers
could address some of the main challenges they are facing today such as limited growth in mature markets and cost reduction pressures.
Chatbots: The New Sales Agent in Insurance IndustryArtivatic.ai
According to some estimates, chatbots are expected to generate over $8 billion in savings globally by 2022, while also offering 24x7 customer service, lower processing time, faster resolution and straight-through processing, leading to increased customer satisfaction. However, when chatbot interactions are mechanical, non-conversational or inferior to human-based conversations, the initiative can lead to a loss of business.
Insurers are exploring the blockchain as they see vast potential in this new technology, most common research topics being : travel insurance and crop insurance. With crop insurance : If the bad weather causes any damage to the crops then a smart contract can confirm the loss using weather data and pay claims automatically. Similarly, in case of travel insurance, if the flights gets cancelled by the airline due to a covered reason, then a smart contract built using blockchain technology could automatically enact payment to those with insurance.
How Blockchain Can Reinvigorate Facultative Reinsurance Contract ManagementCognizant
Blockchain is ideally suited for streamlining and securing the cumbersome facultative reinsurance contract management process by offering trust and transparency and all the benefits of smart contracts.
block chain technology in insurance smart contacts technology dr gharahkhani Mohsen Gharakhani
block chain technology in insurance smart contacts
Dr gharahkhani
presented in The 26th National Conference on Insurance and Development (NCOID) with the main theme of “Increasing Insurance Penetration Rate: Challenges and Strategies” will be held on December 3 and 4, 2019 in two sets of sessions namely academic sessions and general insurance industry sessions, according to PRIAO, IRC.
information technology session
Using Accenture Research methodologies - Economic Value Modelling (EVM) and survey – this thought leadership paper quantifies the digital opportunity for South Africa’s short-term insurance industry to 2020. By leveraging digital technology, Accenture estimates that short-term insurance providers in South Africa can increase their gross written premiums (GWP) by R115.2 billion by 2020.
Decrypting Insurance Broking through BlockchainCognizant
Blockchain technology could help brokers maximize their operational efficiencies by using smart contracts to automate key processes, freeing them to focus on value-added services that drive customer loyalty.
► Life and Health Insurance Online - NZ SEO Reach 2014FIRST
► Which New Zealand Life and Health Insurance providers are maximising their market share online?
Find out which life and health insurance providers are taking the lead in organic search and how they’re doing it.
FIRST has investigated the organic search engine rankings for NZ consumer searches focused on life and health insurances, utilising FIRST’s Ranking Based Reach (RBR) analysis framework. In addition, a consumer survey was carried out to discover what is most important for Kiwis wishing to apply for an insurance.
► In this report we discovered:
According to Standard & Poor’s the insurance market has room to grow due to population growth and the low rate of New Zealanders having a life insurance.* Therefore insurance providers should not miss out, but optimise their online visibility.
Search results are broadly dispersed among a wide range of competitors, even more in mobile. In this competitive life and health insurance market, retailers are missing out optimising on the most cost effective marketing channel: Search.
Currently Life Direct stands out in the search landscape followed by AA and Pinnacle Life capturing big proportion of the voice thanks to prominent organic presence.
In our survey we revealed that 1 out of 3 Kiwis do not have any coverage due to high costs or would not qualify for insurance as they had health issues or wouldn’t need life insurance as they didn’t have any dependents.
A considered digital strategy that integrates both organic and paid search should be a key customer acquisition and revenue driver for life and health insurance providers.
Popular search phrases are missing from quite a few sites and in most cases very little is being done with organic search.
FIRST uses its bespoke metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines. RBR provides a simple way to compare a website’s search engine rankings with its competitors. RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position.
Initio Digital Innovation Digest #11 Q4 2018Initio
Quarterly published Digest of most relevant digital innovations in bank and insurance. This quarter: focus on Ecosystems - Beyond Banking and Insurance
This presentation provides a brief insight into the need to undertake an analytics project, particularly as it pertains to claims management and fraud. To this end the presentation will touch on the general challenges confronting the property and casualty insurance industry, as well as the challenges and lessons learnt from early adopters of business intelligence. In the face of these challenges analytics holds the potential to generate substantial value as evidenced by several short case study examples. The presentation concludes with a look at the issue of fraud as it pertains to the industry and some of the metrics that are influenced by it.
The presentation draws extensively, and focuses on, the work and viewpoints from industry participants including; Accenture, IBM, Ernst & Young, Strategy Meets Action, Ordnance Survey, Gartner, Insurance Institute of America, American Institute for Chartered Property Casualty Underwriters, International Risk Management Institute and John Standish Consulting. References are included on each slide as well as on the “References” slides at the end of the presentation.
Leverage Gartner’s Insight for Assessing the Total Cost of Fraud in Your Paym...TransUnion
As businesses transform to meet shifts in consumer behavior and fraud patterns taking place through digital channels, it has never been more important to understand and assess the comprehensive financial impact of your fraud solutions.
According to Gartner, “In order to build an effective fraud detection strategy, fraud leaders must attempt to quantify how much fraud is costing their organization. This cost will lead to informed discussions about how much to invest in detecting and preventing fraud, and how best to align a fraud strategy to organizational goals.”1
Watch now to learn how to:
- Optimize your fraud investments by developing a “total cost of fraud” model, aligned with overall business needs
- Understand how to calculate the costs of fraud that impact onboarding, account access, and payments
- Implement effective solutions for fraud detection and prevention that drive down your total cost of fraud
1 Gartner, How to Create a Payment Fraud Detection Strategy at the Organizational Level, Akif Khan, 21 January 2020
How an insurer can stay relevant in the age of dataMatteo Carbone
Irrelevancy is only a choice for an Insurer, not his inevitable destiny. Insurtech can make the insurance sector stronger and therefore more capable of achieving its strategic goal: to protect the way people live.
Fraud Prevention Strategies to Fight First-Party Fraud and Synthetic Identity...TransUnion
We believe Gartner’s report, “The Growing Problem of Synthetic Identity and First-Party Fraud Masquerades as Credit Losses,” discusses the rise of synthetic identity and first party fraud losses being concealed as credit losses. In Part 2 of this webinar series we will explore Gartner’s recommendations and provide some real-world advice on how you can prepare your business to fight this trend.
In Part 2 of this webinar series, we’ll conclude with:
- Exploring how to battle synthetic identities and first party fraud
- Reviewing Gartner’s recommendations for building a comprehensive fraud prevention strategy
- Looking at some specific capabilities for helping to stop this type of fraud
*Gartner: Take a New Approach to Establishing and Sustaining Trust in Digital Identities, Tricia Phillips, Danny Luong, 1 March 2018.
Transforming Insurance Risk Assessment with Big Data: Choosing the Best PathCapgemini
Insurers are realizing that big data has the potential to create competitive advantage. There is a gold mine of information residing across the large volumes of data available in multiple sources and disparate formats, if only it can be efficiently mined to support key operational decisions and improve the customer experience. Commercial risk assessment is data intensive and ripe for the incorporation of real-time external data. In this paper, we explore the ways commercial insurers can gain accurate and comprehensive risk assessments when underwriting policies by using big data.
Insurance Industry Trends in 2015: #1 Big Data and AnalyticsEuro IT Group
By implementing customized big data solutions, Euro IT Group can help you unlock the tones of information already flowing through your organization, analyze it, extract value and transform it into insight that drives growth and revenue.
Mobile & Blockchain: An Intro to the Decentralised WorldMatthew Larson
Mobile networks have created distributed networks that allow us to interact with one another in new ways. Blockchain brings trust and security to these networks and allows us to interact and trust each other in incredibly new ways.
block chain technology in insurance smart contacts technology dr gharahkhani Mohsen Gharakhani
block chain technology in insurance smart contacts
Dr gharahkhani
presented in The 26th National Conference on Insurance and Development (NCOID) with the main theme of “Increasing Insurance Penetration Rate: Challenges and Strategies” will be held on December 3 and 4, 2019 in two sets of sessions namely academic sessions and general insurance industry sessions, according to PRIAO, IRC.
information technology session
Using Accenture Research methodologies - Economic Value Modelling (EVM) and survey – this thought leadership paper quantifies the digital opportunity for South Africa’s short-term insurance industry to 2020. By leveraging digital technology, Accenture estimates that short-term insurance providers in South Africa can increase their gross written premiums (GWP) by R115.2 billion by 2020.
Decrypting Insurance Broking through BlockchainCognizant
Blockchain technology could help brokers maximize their operational efficiencies by using smart contracts to automate key processes, freeing them to focus on value-added services that drive customer loyalty.
► Life and Health Insurance Online - NZ SEO Reach 2014FIRST
► Which New Zealand Life and Health Insurance providers are maximising their market share online?
Find out which life and health insurance providers are taking the lead in organic search and how they’re doing it.
FIRST has investigated the organic search engine rankings for NZ consumer searches focused on life and health insurances, utilising FIRST’s Ranking Based Reach (RBR) analysis framework. In addition, a consumer survey was carried out to discover what is most important for Kiwis wishing to apply for an insurance.
► In this report we discovered:
According to Standard & Poor’s the insurance market has room to grow due to population growth and the low rate of New Zealanders having a life insurance.* Therefore insurance providers should not miss out, but optimise their online visibility.
Search results are broadly dispersed among a wide range of competitors, even more in mobile. In this competitive life and health insurance market, retailers are missing out optimising on the most cost effective marketing channel: Search.
Currently Life Direct stands out in the search landscape followed by AA and Pinnacle Life capturing big proportion of the voice thanks to prominent organic presence.
In our survey we revealed that 1 out of 3 Kiwis do not have any coverage due to high costs or would not qualify for insurance as they had health issues or wouldn’t need life insurance as they didn’t have any dependents.
A considered digital strategy that integrates both organic and paid search should be a key customer acquisition and revenue driver for life and health insurance providers.
Popular search phrases are missing from quite a few sites and in most cases very little is being done with organic search.
FIRST uses its bespoke metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines. RBR provides a simple way to compare a website’s search engine rankings with its competitors. RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position.
Initio Digital Innovation Digest #11 Q4 2018Initio
Quarterly published Digest of most relevant digital innovations in bank and insurance. This quarter: focus on Ecosystems - Beyond Banking and Insurance
This presentation provides a brief insight into the need to undertake an analytics project, particularly as it pertains to claims management and fraud. To this end the presentation will touch on the general challenges confronting the property and casualty insurance industry, as well as the challenges and lessons learnt from early adopters of business intelligence. In the face of these challenges analytics holds the potential to generate substantial value as evidenced by several short case study examples. The presentation concludes with a look at the issue of fraud as it pertains to the industry and some of the metrics that are influenced by it.
The presentation draws extensively, and focuses on, the work and viewpoints from industry participants including; Accenture, IBM, Ernst & Young, Strategy Meets Action, Ordnance Survey, Gartner, Insurance Institute of America, American Institute for Chartered Property Casualty Underwriters, International Risk Management Institute and John Standish Consulting. References are included on each slide as well as on the “References” slides at the end of the presentation.
Leverage Gartner’s Insight for Assessing the Total Cost of Fraud in Your Paym...TransUnion
As businesses transform to meet shifts in consumer behavior and fraud patterns taking place through digital channels, it has never been more important to understand and assess the comprehensive financial impact of your fraud solutions.
According to Gartner, “In order to build an effective fraud detection strategy, fraud leaders must attempt to quantify how much fraud is costing their organization. This cost will lead to informed discussions about how much to invest in detecting and preventing fraud, and how best to align a fraud strategy to organizational goals.”1
Watch now to learn how to:
- Optimize your fraud investments by developing a “total cost of fraud” model, aligned with overall business needs
- Understand how to calculate the costs of fraud that impact onboarding, account access, and payments
- Implement effective solutions for fraud detection and prevention that drive down your total cost of fraud
1 Gartner, How to Create a Payment Fraud Detection Strategy at the Organizational Level, Akif Khan, 21 January 2020
How an insurer can stay relevant in the age of dataMatteo Carbone
Irrelevancy is only a choice for an Insurer, not his inevitable destiny. Insurtech can make the insurance sector stronger and therefore more capable of achieving its strategic goal: to protect the way people live.
Fraud Prevention Strategies to Fight First-Party Fraud and Synthetic Identity...TransUnion
We believe Gartner’s report, “The Growing Problem of Synthetic Identity and First-Party Fraud Masquerades as Credit Losses,” discusses the rise of synthetic identity and first party fraud losses being concealed as credit losses. In Part 2 of this webinar series we will explore Gartner’s recommendations and provide some real-world advice on how you can prepare your business to fight this trend.
In Part 2 of this webinar series, we’ll conclude with:
- Exploring how to battle synthetic identities and first party fraud
- Reviewing Gartner’s recommendations for building a comprehensive fraud prevention strategy
- Looking at some specific capabilities for helping to stop this type of fraud
*Gartner: Take a New Approach to Establishing and Sustaining Trust in Digital Identities, Tricia Phillips, Danny Luong, 1 March 2018.
Transforming Insurance Risk Assessment with Big Data: Choosing the Best PathCapgemini
Insurers are realizing that big data has the potential to create competitive advantage. There is a gold mine of information residing across the large volumes of data available in multiple sources and disparate formats, if only it can be efficiently mined to support key operational decisions and improve the customer experience. Commercial risk assessment is data intensive and ripe for the incorporation of real-time external data. In this paper, we explore the ways commercial insurers can gain accurate and comprehensive risk assessments when underwriting policies by using big data.
Insurance Industry Trends in 2015: #1 Big Data and AnalyticsEuro IT Group
By implementing customized big data solutions, Euro IT Group can help you unlock the tones of information already flowing through your organization, analyze it, extract value and transform it into insight that drives growth and revenue.
Mobile & Blockchain: An Intro to the Decentralised WorldMatthew Larson
Mobile networks have created distributed networks that allow us to interact with one another in new ways. Blockchain brings trust and security to these networks and allows us to interact and trust each other in incredibly new ways.
Building a Code Halo Economy for InsuranceCognizant
By finding meaning in the digital data that accumulates around people, processes, organizations and things, insurers can simultaneously reinvent how they operate and reshape their customers' experience.
Shaping the right strategy, managing thebiggest risk.Until recently, the Internet of Things (IoT) was on the strategic agenda of only the largest and most progressive insurers. The IoT was largely viewed as a futuristic concept, and many insurers adopted a “wait and see” attitude.
How could Smart Contracts affect the Insurance Industry?George Theofilis
How will blockchain technology affect Insurance Industry? Some ideas for decentralized applications in the Insurance domain, which will make insurance companies more trustworthy and will eventually eliminate all the inefficiencies in a way that the exchange of sensitive information between partners will be safer.
The Work Ahead in Insurance: Vying for Digital SupremacyCognizant
Insurers expect dramatic changes to their work by 2023 as a result of adopting digital technologies and mindsets, according to our study. Speeding processes, harnessing data and forming new collaborations will be key to winning the digital arms race ahead.
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
Artificial intelligence in insurance 3 trends - venkat k - mediumusmsystem
Trends that business leaders need to be aware of. In this article we will look at three key ways to drive savings for insurance carriers, brokers and policyholders, and enter into the transformations in the insurance industry
Blockchain Technology in Insurance Vertical Sandeepk316
In the slides, I offer an introduction to blockchain, illustrate the functional architecture required, the methodology, use cases in the insurance vertical as well as examples away from finance.
Etude PwC "Insurance 2020" : dommage et digital (2014)PwC France
http://bit.ly/AssuranceEnLigne
Pour les compagnies d’assurance, multiplier les échanges numériques avec les clients est un élément essentiel pour les fidéliser et se différencier des concurrents. C’est ce que révèle le rapport de PwC "Insurance 2020: The digital prize – Taking customer connection to a new level". Le cabinet d’audit et de conseil a interrogé plus de 9 000 consommateurs dans le monde, dont 500 français.
Insurance is nothing but a protection from uncertain financial losses . To hedge against the risk of uncertain losses , a form of risk management is practiced which is known as Insurance Policy
Harnessing the data exhaust stream: Changing the way the insurance game is pl...Accenture Insurance
Vast new data streams create opportunities for insurers to identify and act upon hidden insights, but they also open the door for new business models and competitors.
Data-driven insights make it possible to create new products and new revenue streams, typically in partnership with players from outside the industry.
Harnessing external data is a complex undertaking, but insurers can start by developing a comprehensive plan and then undertaking specific, high-return initiatives that build momentum and help transform the enterprise into a winning competitor in the new digital arena.
Harnessing the data exhaust stream: Changing the way the insurance game is pl...Accenture Insurance
Learn how external insurance data and analytics is changing everything, from pricing risk to interacting with customers. Read more: https://www.accenture.com/us-en/insight-harnessing-external-data-stream
Catching the Consumer Data Wave: A New Opportunity in the Insurance EcosystemCognizant
With the profusion of insurance consumer data coming online, the role of data intermediaries is emerging as a key player in the insurance ecosystem. Insurance distributors are especially well-suited to take the lead in analyzing leveraging user data and sharing insights to drive innovative product offerings and growth.
The slides depict the Top five trends in the Insurance Industry in the year 2020. Go through these trends so you can plan your insurance policies accordingly.
https://www.goodison.com/
Defining Target Market for Telemarketing CampaignsMelody Ucros
IE Business School MBD Program
Retail Analytics Project O1 Group C:
Annie Pi – Anchal Jaiswal – Cedric Viret – Melody Ucros – Miguel Martin Romero – Pablo Dosal - Victor Kausch
IE Business School Masters in Big Data and Business Analytics
Digital Analytics Project by Group F:
Melody Ucros
Jina Kim
Andrea Blasioli
Adedeji Rodemade
Fergus Buckey
Alex Kyalo
Louis Rampignon
Using Regression for Identifying Opportunities in Real EstateMelody Ucros
Machine Learning Project by Group E
* disclaimer:
The professor later told us that there were some improvements or missing details that should have been added to the regression analysis. But, this was our initial deliverable.
Customer Segmentation for Retention StrategyMelody Ucros
IE Business School
Marketing Intelligence Project by Group F:
Melody Ucros
Jina Kim
Andrea Blasioli
Adedeji Rodemade
Fergus Buckey
Alex Kyalo
Louis Rampignon
Data Source: http://archive.ics.uci.edu/ml/datasets/online+retail
Understanding The Future of Production (4IR)Melody Ucros
Differing trajectories in production will play themselves out, based on the complex and volatile external environment. Here are four contrasting scenarios. (Created For: Economic Environment Course @ IE Business School)
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Sustainability: Balancing the Environment, Equity & Economy
Blockchain's Impact on Insurance
1. IE Business School
Blockchain's
Impact on
Insurance
Economic Environment II
Prepared by: Melody Ucros, Michael Harper, Pier Luca Panza,
Eudore Pirmez, Constança Freire & Bruno CerVantes
2. The Industry Today
The worldwide commercial P&C insurance market is on track to be worth
US$895.1bn in gross written premiums by 2018.(1) Regardless of their size,
for years, the value chain of the Insurance Industry has remained
undisrupted. They have leveraged technologies like IOT, Big Data and AI to
improve their operations. Yet, it wasn’t until Blockchain that a technology
had the potential to completely redesign the way they work.
The Insurance Industry is designed for the customer to provide all the data
necessary and make payments, the broker to manage and validate the data,
and the carrier to assess the level of risk, prevent fraud and process claims.
Third parties are people who exchange data with the carrier regarding
customers, risks, claims or compliance. As a result, there is information
asymmetry between the consumer and the other parties.
The accurate assessment of risks and risk compensation are the top
priorities of all parties. The problem is that currently each party
individually analyzes, stores, and manages the data of each transaction
related to each customer. The data is soloed, formatted differently, and
housed under different databases. There is zero interoperability. This makes
the process time-consuming, inefficient, and more exposed to fraudulent
activity. Block chain would allow these processes to be automated, by
uniting all the players in one “chain” where the data of each transaction
can be synced, stored, distributed, and accessed on a continuous
basis. There will be transparency from the consumer to the carrier, the
carrier to third parties, and vice versa.
The Key Activities of an Insurance Company are:
Data Collection
Underwriting
Policy Issuance
Billing and Payments
Claims Management
Exchanges with third parties
02
(1)http://www.insurancebusinessmag.com/us/news/breaking-news/global-pandc-insurance-market-to-hit-us895bn-by-2018-27102.aspx
3. 03
role of blockchain
Static Registry: Customers
can register their personal data and
assets into a blockchain. It will
become an anonymous public
record. IOT and Big Data Solutions
can also contribute to registering
proprietary data and events into
the system. No more data entry,
printing, faxing, or emailing back
and forth for updated copies.
Identity Verifier: With blockchain, a
data can be validated and securely
distributed to parties who need to
participate in the decision-making
process. No more policy fraud.
Smart Contracts: Smart contracts
contain self-executing protocols
that enforce the performance of a
contract across all counterparties.
Claims data is shared across all
counterparties. Identities and
contract provisions are
immediately verified. Payments are
automatically made. (3)
Payment Infrastructure: Customers
could pay with cryptocurrencies, or
automatically validate transfers
from debit accounts.
First Movers
There are some companies who are
already leading the way into
changing the design of the
industry.
A great example is Allianz Group,
an insurance company offering
products to over 86 million
customers in more than 70
countries. They based their
strategy on being digital by
default, and striving for technical
excellence.(2) They have used
existing technologies to enhance
their customer’s journey and
process claims. For example,
customers can submit and track
claims online, while the internal
system automatically finds the best
solution and assigns the incident
to the corresponding
representative . This improvement
though doesn’t change the way
data is distributed and stored. It
just simply automates it.
This block chain driven
transformation is enabled by its
role as a static registry, identity
verifier, enabler of smart contracts,
and payment infrastructure.
(2) https://www.allianz.com/en/about_us/strategy_values/strategy/
(3) https://home.kpmg.com/xx/en/home/insights/2017/01/blockchain-accelerates-insurance-transformation-fs.html
4. 04
Therefore, based on these new
possibilities, the role of the
Insurance providers will no longer
be to assess risk. Instead, the new
role will be to facilitate risk
management solutions.The profit
for the insurer would come from
the increased customer volume and
the lower overhead costs of using
blockchain.
Future AssumptionsNew Reality
Blockchain will lead to new
InsurTech products like P2P
Insurance or Parametric Insurance.
These new products, if not
leveraged, could make insurance
providers completely obsolete.
P2P Insurance: Based on the
shared economy, policyholders can
pool themselves together for a
policy and underwriting is
consensus-based. If there is a
claim, they all contribute
financially to that claim. If there
are no claims, then premiums are
reduced. Blockchain technology
maintains the ledger of claims and
premiums paid. This will allow
customers to reduce premiums and
bypass fees to carriers and brokers.
Parametric Insurance: In this type
of insurance, customers purchase a
short-term contract for a specific
event. By doing so, they join a cash
pool related to the event, and if
something happens, everyone will
receive a percentage of the claim
automatically. It doesn’t
compensate for the actual loss, but
provides a cheap, fast and
convenient way for everyone to be
covered. (4)
This report will break-down each activity, the
current way it is designed, and how it expected to be
transformed by Blockchain. It will also explain how
the artificial forgiveness factor will play a role in the
transformation, and the human attributes that will
come to the forefront in the newly designed
institution. ittle bit of body text
Blockchain (BC) is able to handle
unlimited number of transactions.
GSN Consensus regarding Standards.
BC is wanted, trusted, and used by
all institutions and individuals.
It is impossible to hack BC Solutions.
IOT technology is a standard
requirement for every asset that
needs to be insured.
Every Organization has the resources
to create BC Solutions, and
individuals to use them.
Insurance Companies will disrupt
themselves, and customers won't
want to bypass them.
Assumptions for Transformation:
(4)https://www.romexsoft.com/blog/blockchain-in-insurance/
5. 05
Data Collection
Once Allianz is in contact with a
customer, directly or through a broker, a
set of questions and interviews must be
performed in order to assess the needs
and expectations of the customer. The
customer must provide information to
validate identity, ownership, and
conditions of the asset that needs to be
insured. This data is usually provided by
scanning paper documents of copies that
other parties had provided to the
customer at some point in time. Once
they have all the data, they need to
collect and analyze it to see how they
can achieve customer requirements. For
that, they create a Value Stream Map
(VSM). This process needs to be
performed with internal records, claims
representatives and personnel. All the
data needs to be shared across
departments in order to begin the risk
assessment (or underwriting process).
Present Future
Customer will grant permission
to the the insurance carrier to
access their identity, ownership
and asset data. This access will
reveal existing or past insurance
policies and claims associated
with property and/or insuree.
The insurer can trust the data,
since it has already been
validated by the third parties
when it was initially encrypted.
Everyone in the insurance
organization will automatically
have access as well. This shared-
interface between the customer,
carrier and third parties will
significantly reduce, or prevent,
fraud from all parties.
Sample TransformatioN
Based on activities specific to Allianz
6. 06
Underwriting
During this process, the risk and
potential exposure of the insured will be
analyzed. The company will evaluate the
scope of the coverage the applicant can
receive, as well as the premium he
needs to pay to receive it. Accurate
assessment is essential, since it is the
underwriters job to make sure the
company is protected from risks of
losses. They need to analyze criteria
such as: age; gender; weight and height;
personal and family health history;
purpose of insurance; occupation;
income; unhealthy habits (smoking;
drinking; etc); hobbies; travel habits and
more. If it’s for an asset, criteria such as
incorporation date, conditions, value and
location are taken into consideration.
This process is called KYC( Know Your
Customer).
Present Future
Through the use of the data
provided by IOT and AI, the
insurer will be able to
automatically match the
customer with a policy that best
matches its needs. The
blockchain allows all parties
involved in a claim to
simultaneously manage the
process. The price or premium-
to-be-paid will depend on the
“pool” where the customer
belongs, within a P2P solution
designed by the carrier. Rate is
based on the consensus that was
reached by all members in that
specific pool.
Insurance Company owns different P2P Solutions where
customers share the risk along with other people. Small %
of premium will go to Insurer, which will deal with
accidents and guarantee payouts.
The remaining % is for the group's "reserve".
7. 07
POLICY ISSUANCE
Once the risk is assessed, a contract is
shared with the broker, customer and
third parties in order to reach an
agreement. Once the agreement is
reached, both the insurer and the client
sign the document and everybody saves
a copy on their own system. Each party
now has the responsibility to abide by
the terms agreed upon on a timely and
ethical manner.
Present Future
Each individual of the pool will
have a smart contract that, based
on the predefined data of every
participant, will determine the
amount each party should
receive in case of an incidence.
Billing & Payment
On a monthly or period basis, the
company sends a payment reminder to
the customer. When a customer wants
to send a payment, it goes through a
bank that validates the currency
and the identity of the customer. Then,
the money is transferred from the
customer’s bank to the insurers’ bank. A
confirmation of payment is sent to all
parties involved. Depending on the
terms with third parties, some of that
money will have to be redistributed.
Present Future
With smart contracts, the
payment will not require
financial intermediaries and
would be sent automatically to
the insurance carrier. The
problem of exchange rate will
also be taken out. The payment
can be made in crypto currencies.
There will be an immutable and
transparent proof of payment.
8. 08
Claim Management
This process starts once the customer
registers the claim through their app.
They upload pictures of the incident,
information, and the compensation they
expect. The validity of the claim is
automatically processed through a
system, assigned, and then assessed by
either internal auditors or third-parties.
Data such as time of incidence, causes,
and costs is collected. If claim validated,
Allianz sends a refund check to the
customer, or to the third party that is
involved in the incident. If claim is
denied, notification is sent to the
customer.
Present Future
If the asset is automatically
feeding data into a blockchain,
the insurer can be granted access
to it and immediately assess the
situation. The notification to the
insurer can be automated, and
based on the terms of the smart
contract, money can be paid back
directly to the customer. The
subjective evaluation of this step
is entirely removed.
Exchanges with third parties
Allianz relies on third parties to provide
data regarding customers, risks, claims
or compliance. Brokers collect and
validate data. Every payment goes
through a bank. Every document must be
authenticated by original author. In
other cases, Allianz transfers the
financial pressure (through cat bonds or
swaps) to reinsurers. When regulators
ask for information, data must also be
transferred.
Present Future
Document Validation, Risk
Assessment and Payment is now
done automatically. Risks are
distributed through P2P solutions.
Overall, there will be no duplicate
information, faxing, printing,
filing, or emailing back and forth
regarding each individual
transaction. All parties involved
will simply be granted access to
the necessary blockchain.
9. 09
Implications
The Artificial Forgiveness Factor & Human Attributes
For the insurance industry, Blockchain translates into Billion of dollars saved. It
would eliminate policy fraud, claim fraud, problems with internal data quality,
subjective evaluations, and inadequate access to external information. It will make
the process fast, transparent and immutable. But, transformation always comes with
responsibility. A company entirely powered by Blockchain must first realize the
ethical and legal implications of using the technology .The cryptographic consensus
protocol ensures immutability and irreversibility of all transactions posted on the
ledger. Transactions can be reversed, but never forgotten. In order for the reversal of
any transaction, two participating parties must agree to reverse it, yet the reversal
transaction will still be permanent.
The new reality is that history will follow people and institutions forever. Because of
this shift, the level of accuracy and accountability within the organization is
essential for a business to withstand the test of time. The new business model will
require Insurance Companies, like Allianz, to set very clear standards related to what
customer data should be considered (and the time-frame), the data needed to
evaluate risk, the level of accuracy required by IOT sensors, and the specific
variables associated with each payout. There can be no space for subjective
decisions, because the system will keep the company accountable to the consumer.
Blockchain allows for a superior level of trust between humans and institutions. It
will create the phenomenon of artificial forgiveness, where everyone has full access
to information and still chooses to “forgive” each other's actions when they are no
longer relevant in the present. For example, a car crash from when a customer was
15 shouldn’t affect their policy when they are 55. In the same way, a fraud
committed by an institution 5 years ago shouldn’t affect its ability to recruit new
customers now. As time moves on, people and institutions will have to learn how to
make decisions based on full knowledge of history, compared to now where people
simply "forget". They must stick to the belief that everyone deserves the opportunity
to redeem themselves.
Blockchain will give human attributes to institutions. It will put them at an equal
level as the consumers. The institution will now have to share the same level of
knowledge, empathy, intuition, vulnerability, and transparency as another human
being. This attributes will make companies more relatable, and the companies who
abstain from this transformation, risk becoming obsolete. This level of transparency
will become the new standard for the Insurance Industry.
10. 10
Limitations
Why Transformation is not immediate
Security
In terms of security, recent incidents have generated some doubts on blockchain
being actually bulletproof. As any other technology, it will be continuously exposed to
cyber attacks. Indeed, the privacy of data is one of its greatest concerns. As blockchain
operates under a network with an open source code, companies will always fear the
possibility of eventual leaks in the system that will expose the data to the public. If
Allianz suffered a cyber attack it could have catastrophic effects in the short and long
run on the business. It would damage its brand image and reputation in the market
and put at risk its ongoing operations.
Scalability
The presence of a diverse group of players in insurance industry implies a higher
volume of data, as the number of transactions is multiple. In order for blockchain to
assure the validation of data in time, it requires not only a bigger storage capacity as
well as a stronger computer power to process and validate each transaction. This
remains a barrier to scale the technology since a remarkable amount of new
infrastructure and improved computing power is required, meaning higher upfront
investment costs for Allianz to incur to assure its viability. Additionally, insurance is
subject to continuous changes in regulations in order to keep its integrity in the
market, resulting in an increase in costs due to constant updates necessary to be done
to the technology to adapt to new regulation. This combined with some cultural
resistance will ultimately slow down the adoption by insurance institutions, and
translate in reduced returns on the investment to Allianz.
Standardization
The Blockchain technology still lacks standardization patterns, which reduces the
level of reliability of the technology. Indeed, the demographic challenges of identity
proofing and authentication make standardization of credential issuance difficult.
Additionally, there is no legal framework to control liability at scale if something goes
wrong. Indeed, the technology will only be able to reach its full potential, if there will
be interoperability and data interchange among users, applications, and systems, that
reflect a consistent and compatible way to exchange data and transactions. Only then,
when standardization is globally settled in the technology it would be broadly
accepted in the insurance industry. In order to speed up the process, Allianz can
create partnerships with other insurance players or financial institutions to enforce
the transformation process.
11. 11
Additional sources
Blockchain Accelerates Insurance Transformation by KPMG
https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2017/01/blockchain-accelerates-
insurance-transformation-fs.pdf
Blockchain in Insurance: Applications and Pursuing a Path to Adoption by EY
http://www.ey.com/Publication/vwLUAssets/EY-blockhain-in-insurance/$FILE/EY-
blockhain-in-insurance.pdf
Blockchain in Insurance: Opportunity or Threat by Mckinsey & Company
http://www.mckinsey.com/industries/financial-services/our-insights/blockchain-in-
insurance-opportunity-or-threat
Blockchain in Insurance: Why Should You Care by Deloitte
https://www2.deloitte.com/ca/en/pages/financial-services/articles/blockchain-in-
insurance.html
EU Insurance Fraud Survey Results 2016 by Insurance Nexus
http://www.insurancenexus.com/fraud/insurance-fraud-survey-results-2016
Leveraging Blockchain to Transform Insurance Industry by Capgemini
https://www.capgemini.com/resource-file-
access/resource/pdf/leveraging_blockchain_to_transform_insurance_industry_2017_we
b.pdf