Data and information management

For many insurers, the road seems to begin with beefing up their data analytics.

Agile can and does work for BI in practice and may be more important for BI than for many other projects. Here are six key approaches that have served as starting points for many BI projects.

Insurer to offer DriveCam safety and compliance program to fleet owners in an effort to improve fleet safety.

Public and previously shared data offer potential benefits to consumers and opportunities for service providers to offer value-added services; however consumers' responses range from neutral to negative, Celent says.

Spring is almost here. It is natural for insurers to focus on growth. In the past, the growth cycle was fueled by new products, an expansion of agencies or reaching new geographies. Today’s growth fuel flows in the opposite direction – from consumer demand, through the product channels and into product development. The technological wave that has fostered channel development is improving insurer response time and promoting growth – if insurers are willing to think transformationally. (For a good definition of transformational thinking vs. legacy thinking, see my first blog.)

Risk transfer opportunities just beginning to be realized, Towers Watson says; 90 percent of CFOs surveyed expect to see prices decrease.

Insurer announces a new chief information officer, chief claims officer, chief risk officer and 30 more corporate officers.

Advanced Web architecture is particularly crucial in the insurance industry given the potential for enhanced customer self-service.

More than half of Chicagoland drivers drive fewer than 10,000 miles per year, insurer says; fuel costs and heavy traffic discourage driving.

The data deluge presents many challenges, from the purely technical to process- and change-management issues to outright cultural and sociological impacts.

In 2012, PIP claims reached an annualized $14,207 per claimant, Insurance Research Council says, despite decreasing severity of injuries.

During a unique gathering of data-analytics leaders, new solutions began emerging to vexing privacy, talent, organizational and frontline-adoption challenges.

Two computer science students from the University of St. Andrews in the U.K. attempt to pin down a definition of big data.

All companies should have adequate controls that minimize points of entry to their private information.

The ticker tape, invented by Thomas Edison at the age of 22, should have been a sign to all other industries. Investors would do anything to keep information and money flowing…including keeping their technology up to date. One would think that an insurer’s desire to reduce risk and hold onto reserves would also steer them down the road toward cutting-edge information technologies.

Suite of predictive models offers insurers the opportunity to score driving behavior across multiple vehicles and vehicle usage patterns across multiple drivers, LexisNexis said.

Health care, finance and insurance are among the top five industries driving demand, according to Burning Glass Technologies; average advertised salary: $94,000.

Data analysis, processing and results distribution enables ProSight’s customer service team to access all client history and claims data.

IMS UBI Intelligence includes hardware, logistics, support, communications, secure data warehousing and analytics.

The tools and methodologies for cloud security are readily available.