JT on EDM

Syndicated from BeyeNetwork
Last week I posted a couple of times about my impressions from the SAS Global Forum. In one post I said that “SAS customers talk about the great results they get when they put their predictive analytics to work in operational systems” so I thought I should expand on that a little, using [...]

One of the best things about being at DIALOG was the opportunity to meet a bunch of ILOG customers and learn how they are making better decisions in their organizations. It seems to me that every one of these customers is, in a very practical way, helping to build a smarter planet. The first group [...]

Another panel, this time on how business rules fits into an agile IT infrastructure. British Airways, PMI (mortgage related services), Swiss Medical (Argentinian health insurance) and Wyndham Group were represented. Panels are tough to blog so here’s a list of takeaways:

Start small and in a well known area to prove out the technology but have [...]

Gerhard Hausmann presented on Barmenia and their use of business rules to improve customer experience. Barmenia is a private health / life insurance company in Germany with more than 2M contracts and 1.5Bn Euros in premiums. Been in business since 1904 and still have contracts that date back to the last century. In Germany there [...]

Like millions of my fellow Americans I listened to our new President today. As I did I was struck by the opportunities for decision management to deliver the smarter systems that will be critical with some of the priorities President Obama laid out in his speech. There were four commitments he made that struck me [...]

I was struck by an article on Insurance and Technology titled All Predictive Models Are Wrong. Now, while this is a true statement (more or less) it reminds me of a famous Winston Churchil quote:
It has been said that democracy is the worst form of government except all the others that have been tried.
In other [...]

Charlie Berger and some others presented on using data mining for fraud detection. Fraud is a huge issue – for instance there is $31B annually in insurance claims fraud (10-15%) with 25% of all claims have some fraud and more than 1 in 3 bodily-injury claims from car crashes involving fraud. Other industries have similar [...]

I was chatting with someone the other day who shared a story of a European health insurer.   Their decision-making in claims looked only at the validity of the claim and nothing else. This of course created a situation where good (and very profitable customers) could be treated correctly but ineffectively – such as one [...]

Two gentlemen from Deloitte presented Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience. 80% of healthcare costs are incurred by 20% of members and traditionally the 20% get all the focus. Analytics and data mining get applied to claims, authorization, costs as a result. Segmentation focuses on the unprofitable and unhealthy. Increasingly [...]

Chubb has been working with Blaze Advisor to automate a number of decisions. They began with specialty lines underwriting (automated renewals), claims severity calculation and work queue assignment. Current focus is on integrating predictive models and some legacy modernization.
The automated renewals project reduced the time to make renewal rule changes from 3-6 months of IT [...]