The insurance industry boasts some of the most sophisticated modeling capabilities in the world. And yet the average property underwriter does not have access to the kind of predictive tools that carriers use at a portfolio level to manage risk aggregation, streamline reinsurance buying and optimize capitalization.
Published By: Nextgen
Published Date: Sep 25, 2019
Your practice can save time and money by delivering on patient expectations. You can better keep up with regulatory demands and reporting requirements—and avoid unsatisfied and unresponsive patients—when you employ best practices that address patient needs.
In this eBook, you’ll learn strategies to avoid missed revenue and save staff effort by using smart efficiency improvements, such as checking insurance information up front. You’ll also learn how you can get back to caring for patients, not chasing payments—and the secret to achieving strong financial outcomes. Finally, you’ll discover how you can get paid quickly, easily, and fully—all while addressing your patient demands for an improved, more efficient experience.
In September, leading insurance professionals joined TIBCO for an exclusive and interactive roundtable dinner. During the course of the discussion, it became clear that while AI will significantly alter the customer journey, a lot still needs to be done in terms of both defining AI's capabilities as well as acknowledging where it best fits in an insurance business, how it will impact the workforce and reinvent the customer journey.
Connected Intelligence in Insurance
Insurance as we know it is transforming dramatically, thanks to capabilities brought about by new technologies such as machine learning and artificial intelligence (AI).
Download this IDC Analyst Infobrief to learn about how the new breed of insurers are becoming more personalized, more predictive, and more real-time than ever.
What you will learn:
The insurance industry's global digital trends, supported by data and analysis
What capabilities will make the insurers of the future become disruptors in their industry
Notable leaders based on IDC Financial Insights research and their respective use cases
Essential guidance from IDC
A perfect storm of legislation, market dynamics, and increasingly sophisticated fraud strategies requires you to be proactive in detecting fraud quicker and more effectively.
TIBCO’s Fraud Management Platform allows you to meet ever-increasing requirements faster than traditional in-house development, easier than off-the-shelf systems, and with more control because you’re in charge of priorities, not a vendor. All this is achieved using a single engine that can combine traditional rules with newer predictive analytics models.
In this webinar you will learn:
Why a fraud management platform is necessary
How to gain an understanding of the components of a fraud management platform
The benefits of implementing a fraud management platform
How the TIBCO platform has helped other companies
Unable to attend live? We got you. Register anyway and receive the recording after the event.
What if you could use just one platform to detect all types of major financial crimes?
One platform to handle the analytical tasks of fraud detection, including:
Data processing and aggregation
Statistical/mathematical/machine learning modeling
One platform that could successfully reduce complex and time-consuming fraud investigations by combining extremely different domains of knowledge including Business, Economics, Finance, and Law. A platform that can cover payments, credit card transactions, and know your customer (KYC) processes, as well as similar use cases like anti-money laundering (AML), trade surveillance, and crimes such as insurance claims fraud.
Learn more about TIBCO's comprehensive software capabilities behind tackling all these types of fraud in this in depth whitepaper.
AA Ireland specializes in home, motor, and travel insurance and provides emergency rescue for people in their homes and on the road, attending to over 140,000 car break downs every year, 80% of which are fixed on-the-spot.
“In each of the last five years, the industry lost a quarter billion in motor insurance," says Colm Carey, chief analytics officer. "So, there's a huge push for new data, models, ways to segment and pick profitable customer types—and get a lot more sophisticated. Our goal is to optimize pricing, understand the types of customers we're bringing, and the types we're trying to attract. We would like to tie that across the business. Marketing will run a campaign, trying to attract a lot of customers, but maybe they're not the right type. "We wanted to step away from industry standard software and go with something that was powerful and future-proof. In 2016, we had an opportunity to analyze all software.
We chose the TIBCO® System of Insight with TIBCO BusinessWorks™ i
The Insurance industry continues to undergo significant transformation, with
new technologies, business models, and competitors entering the market at an
increasing rate. To be successful in attracting and retaining the most valuable
customers, insurance companies must innovate and increase the speed at which
they respond to customer demands. Traditionally, the insurance software market
was dominated by a handful of specialist vendors with products that were initially
expensive, difficult to deploy, costly to maintain, and did not provide the speed
needed for today’s market.
Now there has been a shift away from these “black box” applications to platforms
that allow insurers to make their algorithmic IP available to business users, allowing
much faster response to business demands. The algorithmic platform approach also
comes at a fraction of the cost of black box solutions, while delivering advanced
analytical techniques like Machine Learning and Artificial Intelligence (AI).
As an insurer, the challenges you face today are unprecedented. Siloed and heterogeneous existing systems make understanding what’s going on inside and outside your business difficult and costly. Your systems weren’t set up to take advantage of, or even handle, the volume, velocity, and variety of new data streaming in from the internet of things, sensors, wearables, telematics, weather, social media, and more. And they weren’t designed for heavy human interaction. Millennials demand immediate information and services across digital channels. Can your systems keep up?
"Considering switching to a single system for finance, planning, and analytics? These leading insurance companies did just that—and they achieved amazing results.
This infographic shows how Workday helped them stay competitive, deliver a customer experience like no other, and ensure compliance as well as:
Save $400,000 annually with better transactional control
Reduce time spent on manual processes, such as quarterly reports
Spend more time analyzing data than gathering it
Hybrid cloud adoption is accelerating within the financial services industry. Just recently IBM led a financial services focus group meeting with 20 banks and insurance companies. All of them indicated that they will be accelerating adoption of cloud technology over the next 12 to 18 months.
Published By: MuleSoft
Published Date: Sep 12, 2019
Digital insurance platforms enable insurance companies to connect with their ecosystem of customers, partners, and vendors on a single, unified platform. Hear firsthand from CTO Ben Turner how Legal and General’s digital insurance platform helped the company diversify product offerings, and scale quickly to meet customer expectations.
How industry leaders have digitally transformed insurance offerings with a platform business model.
How to build an integrated insurance platform to connect your ecosystem of suppliers and exceed customer expectations.
Best practices to increase customer retention and profitability with a single view of the customer.
Ben Turner, CTO, Legal and General
Dan Snowdon, UK&I Financial Services Marketing Lead, MuleSoft
Angie Lee Campos, Global Financial Services and Insurance Lead, MuleSoft
Published By: e-SignLive
Published Date: Oct 11, 2013
While we tend to think about mobility largely as a consumer phenomenon, it is also changing how the workforce carries
out business. With so much being done beyond traditional office walls, many insurance companies, financial service
organizations and even government agencies are adopting mobile tablets and smartphones as productivity tools for
agents, representatives and personnel, and developing enterprise apps for these devices.
Case management frameworks built on business process management platforms help IT solutions architects deploy case-handling applications and offer an alternative to specialized case management applications and custom coding. According to Gartner, the complex architecture required to support case management has relegated it to the status of a niche application, typically addressed by specialist, commercial off-the-shelf application providers and system integrators. Case management as a process style is being applied in many sectors beyond government, legal and insurance, including healthcare, banking, higher education and retail. Industry and cross-industry case management frameworks are now available. "Adaptive case management" hype exceeds the reality of what buyers need. Gartner evaluated 12 vendors including Pegasystems against nine critical capabilities in four use cases.
Download this Gartner analysis and gain a better understanding of the case management frameworks solutions offe
When augmenting the benefits package for your organization, it’s natural to focus on traditional perks that employees have come to
expect: PTO, health insurance, and maybe a tuition assistance credit here or there. But if you’re looking for creative and effective ways to stimulate employee engagement while also driving business results, you’ll want to consider the powerful impact of offering language-learning opportunities.
Where’s the connection? And how can you reproduce these benefits within your organization? This playbook offers a deeper look at why language learning has such a positive influence on employee engagement and business performance, as well as step-by-step instructions for implementing a language-learning program in your organization.
While the Affordable Care Act (ACA) increased the number of Americans with access to health insurance, U.S. employers and employees continue to struggle with rising health care costs and changing workforce demands. Recent Aon research shows that 20% of health care consumers cite high health care costs as the major reason they have either declined health care coverage, stopped taking medications, or avoided care altogether. If the U.S. health care system is to succeed, stakeholders across the health ecosystem must influence change in each market—employer, individual, and government (Medicare, Medicaid, and Tricare).
While each part of the three-legged stool is important, this paper focuses on five strategies Aon believes will strengthen the employer-based system—a system that provides health care coverage to well over half of Americans (61%, or 177 million).
2017 Trends in Financial Services and Insurance: Customer is Priority
The FSI sector is progressing with a digital, data-driven, marketing mentality, all centered around prioritizing customer experience and taking a more personal approach.
The 2017 Digital Trends in Financial Services and Insurance compiles the information shared by over 800 FSI respondents to see what opportunities and obstacles are shaping the future of FSI.
Read this report and find out:
How data and personalization drive digital transformation
How fintech is leading the FSI chase
Tips to help future-proof your FSI business
Adobe article that condenses/highlights key findings from the Econsultancy Digital Marketing in the Financial Services and Insurance
Sector 2017 Study, an in-depth, 5000+ word report covering FSI executives’ opinions on:
– General trends in retail banking, investment banking, and insurance
– Internal structures their companies are using to execute digital transformation
– The biggest threats/disruptions in the industry
– The biggest priorities in 2017 (leaders are focusing on both customer retention and customer acquisition, mainstream is focusing just
on customer retention)
– Main sources of sales and leads (digital + mobile are steadily increasing sources)
– Digital marketing budgets & investment areas (leaders are investing more in digital marketing automation and analytics)
– Use of the cloud and AI to automate analysis and marketing
– The importance of multichannel personalization
– Innovation in the types/formats of products/services provided (leaders are focusing on i
As of May 2017, according to a report from The Depository Trust &
Clearing Corporation (DTCC), which provides financial transaction and data processing services for the global financial industry, cloud computing has reached a tipping point1. Today, financial services companies can benefit from the capabilities and cost efficiencies of the cloud. In October of 2016, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC) and the Federal Reserve Board (FRB) jointly announced enhanced cyber risk management standards for financial institutions in an Advanced Notice of Proposed Rulemaking (ANPR)2. These proposed standards for enhanced cybersecurity are aimed at protecting the entire financial system, not just the institution. To meet these new standards, financial institutions will require the right cloud-based network security
platform for comprehensive security management, verifiable compliance and governance and active protection of customer data
Having local expertise on each side of the water helped to address the customer’s concerns and data center requirements at each level of its decision making process. How do you go about finding the right provider for your business?