Analytics

Returning home from the ACORD-LOMA Forum (ACORD-LOMA) last week, I was reminded of a time about 12 years ago when I wrote that data is the lifeblood of the insurance industry and a strategic asset that needed effective management. The recollection was prompted in part by the fact that during ACORD LOMA the topics of big data, business analytics and business intelligence, and the need for quality data, continued to be hot topics both in terms of insurer priorities and discussion points. The fact that the industry is still buzzing about these topics seems to indicate little progress has been made in the last 12 years. And, to make matter worse, recent research indicates insurers are, on average, using only five to ten percent of their current data.

A committee of 11 insurer CIOs has selected nominees for the second-annual Novarica Research Council Impact Awards. Nominees include: AIG, Aegis, Erie Family Life, Great American, Nevada General, PURE, RLI and XL.

Guidewire’s acquisition of the data management and BI provider intended to enable more efficient legacy replacements.

Announcement follows releases in Asia and the United Kingdom from earlier this year.

Insurance IT experts discuss the technology challenges insurers are facing, social business is demystified and several insurers make analytics, mobile moves.

A new report from Saugatuck outlines the challenges BI has faced, and where BI operations are likely to settle within enterprises.

Xuber, the insurance software business of Xchanging plc, announced the launch of Xuber Analytics, a data analysis tool designed to provide commercial insurers with deeper insight into their business.

If you have been with a company that has acquired or merged with another, you have likely felt the pain that goes with merging systems and data sets — but does it need to be that difficult?

Downloadable geographic information system designed to offer map applications and big data visualization.

Amazon provides compliant expansion points while the business software provider will develop consultancy, tech support.