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How big data, AI, and automation impact insurance

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Data is the new gold…

Data is the new oil…

Pick your metaphor, but for insurers, data is the asset their critical business processes require in order to run effectively and produce actionable results.

Data is a critical component of marketing, underwriting, product development, claims, distribution and IT operations, to name a few, and insurers globally are using the clever manipulation of data, both internal and third party, to gain an edge over their competition. And data is the backbone enabling other key initiatives such as analytics, artificial intelligence, and automation.

Watch the video below to see IBM Insurance Global Managing Director Sandip Patel share how data is the new natural resource transforming the insurance industry.

Clearly insurers are THINKING about data…

A recent Celent survey of US P&C insurer CIOs reported that data analytics and artificial intelligence (AI) were major initiatives completed, underway or in plan at 100% of large, 100% of mid-size and 88% of small insurers.

Successful data endeavors require the proper alignment of people, process and technology, and IBM Think 2019 has sessions that address the kinds of initiatives that help insurers use data to get ahead of the game.

If you plan on attending the conference, I recommend adding these sessions to your agenda:

  • Robotic Process Automation: An Insurer’s Journey – session 4808
  • Process Simplification and Automation at Nationwide –session 4963
  • How Generali Is Becoming a Cognitive Company —session 2390
  • Delivering Excellent Customer Experiences and ROI with “Next-Best-Action” Analytics and Automation – session 6945
  • Lowering Cost/Income Ratio through Advanced Analytics and Robotic Process Automation –session 2067
  • USAA: How Cloud and AI Can Transform Financial Services Data and Analytics Organizations –session 2819
  • LPA Software Solutions & Germania Farm Mutual Insurance Company: Improving Insurance Industry Subrogation Yield through Text Mining of Case Files –session 4143
  • How Analytics and Data Mining Can Help Insurance Companies Face 21st-Century Climate Change Impacts – session 5820A

 

Let Think 2019 help your journey to big data, AI, and automation.

 

On Wednesday, February 13 from 8:30-10:00 AM, don’t miss the IBM Financial Services Networking Breakfast at Think where you can hear from Tom Eck, CTO and VP of IBM Cloud and Financial Services, and Sandip Patel, General Managing Director of IBM Insurance, and join banking and insurance industry experts and like-minded peers in discussions of the key imperatives and new technologies driving the industry. Please pre-register as there is limited space available.

 


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