Business intelligence

Payers have not been engaged in HIE development, despite the fact that their buy-in and active participation is vital to realizing the full benefits industry-wide, study says.

As the two companies consolidate IT, their valuable and voluminous data will revolutionize their risk assessments and customer interactions, industry experts say.

The companies' complementary, rather than competitive, risk management practices can leverage technology to get a clearer picture of risk for insurance carrier clients.

Experiment, but be careful of expensive, enterprise installations that are hard to extract later, and understand these types of projects can be more transient than other enterprise software.

A Novarica survey finds insurers excited about the potential for several big data pools to impact the underwriting process.

Insurance technology vendors with telematics, analytics, and Internet of Things interests are increasingly linking up to provide more robust capabilities for carriers.

We need your help in identifying the leading vendors who are helping your insurance organization take advantage of big data and analytics.

American Family Insurance has several initiatives around big data, including programs for more intensive testing and efforts to leverage unstructured data from claims notes, says Justin Cruz, strategic data and analytics VP.

The Nationwide Center for Advanced Customer Insights (NCACI), at Ohio State University gives students in advanced degree programs the ability to work with real-world data.

Business owners demand faster service, and that's where big data comes in, says Gina Papush, chief data and analytics officer.

Zurich sees predictive analytics as a critical capability and has been accelerating investments in the technology.

Among its many data-oriented initiatives, CNA is applying big data technology to workers compensation claims and adjusters' notes.

The insurer is using more public data to improve underwriting results and decrease the number of questions the insurer has to ask consumers to underwrite them.

Read how and why insurers are taking the lead in mastering big data and analytics with INN's roster of 10 leading carriers across lines of business.

Insurers are in a great position to lead in getting real business results from big data and analytics investments, as these 10 carriers demonstrate.

MassMutual is adding big data talent to its team each year in partnership with several local colleges. "It's so hard to find to seasoned talent, but this has proven itself to be valuable and we are scaling up," says SVP of analytics and research Gareth Ross.

Progressive's big data leader Pawan Divakarla says data is integral to the insurer's mission: "Big data, small, it doesn't really matter: We want it to be in our fabric."

We now are seeing a resurgence of AI, a blending of machine learning, predictive modelling and cognitive computing along with self driving cars, which raises some rare and interesting opportunities.