Predictive analytics

How do you maximize efficiency in the application, quoting, and claims process and not invite new or additional fraudulent activity?

Current actuarial techniques are good at quantifying in the aggregate – but less so in the detail.

Research shows rapid adoption of predictive algorithms and digital identity technology will stem the pandemic-driven fraud deluge. Insurance fraud causes more than $80 billion in losses annually in the U.S. alone, according to the report.

COVID-19 has shown us that technology can rapidly evolve to meet customer needs, in areas from contactless payments to digital banking to mobile wallets. However, we still see great disparities when it comes to the use of contactless and digital banking by low- to moderate-income (LMI) workers. The question is, will emerging tech in the post-COVID economy provide an opportunity to include new people in the financial system-- or leave them even further behind?

Artificial intelligence (AI) is increasingly gaining ground in a number of areas of banking and financial services. However, there is growing evidence that AI systems are biased.

To understand how the idea of dynamic risk assessment works, we first need to unlearn certain assumptions.

Predictive analytics also on the rise in the line of business, Milliman finds.

More than 1,000 customers in the line of business have taken advantage of the new program.

Risa Ryan joins the company from Munich Re America.

Approaches such as analytics, artificial intelligence and smart phone apps aim to improve care and save money.

Northside Hospital in Atlanta is adopting machine learning technology to enable the organization to predict when insurance companies will end payments.

A new study finds that within the next two years, all large and midsize carriers will use predictive analytics in their group life operations, while nearly half of small insurers will deploy similar capabilities.

Launched in New Jersey, the insurers’ first foray into the line of business focuses on reducing friction in the buying process.

Among the key drivers of market growth are rising demand for advanced analytics to predict future outcomes and customer requirements and advancements in cloud-based services.

The top areas where insurers will spend new money are predictive modeling and link analysis/social network analysis.

Division working on predictive models and automated underwriting in life insurance launches tool for consumers.

The CAS Institute, a subsidiary of the Casualty Actuarial Society, focuses on the use of analytics in the industry.

New data quality management practices, data discovery techniques and predictive and prescriptive analytics tools will be among the top trends impacting analytics and business intelligence.

Insurers want to use advanced analytics and data to fight fraud, but are going through growing pains in laying a tech groundwork.

The rise in mobile computing has also led to an increase in mobile data analytics, as organizations look to gain more business insights at the edge of the enterprise network.