Insurance

Using busines rules in stable, core processes

September 3, 2009

Talking with SAP today I made the comment that the best place to use business rules was often in stable, core business processes because those processes don’t change, only the decision rules within them. This clearly struck a chord with @GregChase and it made me think I should write a slightly longer version of what [...]

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Decision Management Job – Head of Business Development USA

August 12, 2009

My friends at Marketelligent are looking for a head of business development for the US. Marketelligent is a Bangalore-based consulting firm providing a range of analytics services to global clients and across various domains – consumer banking, insurance, telecom, retail, manufacturing, travel, etc. Services provided include simple MIS and reporting all the way to [...]

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Predictive analytics turn uncertainty into usable probability

July 31, 2009

Syndicated from ebizQ
Following on from yesterday’s post on analytics, let’s talk about predictive analytics. Another phrase I picked up while working at FICO was this one:
Predictive analytics turn uncertainty about the future into usable probability
Again, I don’t know if the phrase originated there or was just in common usage but it always struck me as [...]

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Recommendation Engines- not as Complicated as You Think

July 15, 2009

Some time ago I saw this interesting little post -Recommendation Engine Secrets We Don’t Want You to Know: It’s not as Complicated as We’d Have You Think – that made the point that:
Most recommendation engines use one of a handful of methods that are well understood
And they are correct, of course. Recommendation engines involve some [...]

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Customer Stories from the SAS Global Forum

April 1, 2009

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 [...]

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DIALOG closing thoughts – better decisions for a smarter planet

February 12, 2009

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 [...]

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DIALOG Agile IT Infrastructure

February 6, 2009

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 [...]

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DIALOG Improving Customer Experience in Health Insurance

February 5, 2009

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 [...]

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Mr Obama, smarten these systems!

January 20, 2009

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 [...]

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All Predictive Models Are Wrong – So What?

December 22, 2008

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 [...]

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Fraud Detection with Oracle Data Mining

December 3, 2008

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 [...]

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On the importance of holistic decision making

November 6, 2008

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 [...]

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Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience

October 30, 2008

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 [...]

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Rules and Process Management for Insurers

October 28, 2008

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 [...]

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Live from InterACT – Insurance in the 21st Century

April 28, 2008

After lunch I joined the Insurance track and listened to Don Light of Celent (who wrote this nice paper some time ago) and Mike Gordon of Fair Isaac. Mike started and his first slide was headlined “survival of the fittest” which seems like the right headline! There is clearly a lot on in insurance these [...]

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Live from IMPACT – Evening Activities

April 7, 2008

Evening of Monday night and its party time in the solutions area of IMPACT. Once again the wonderful string quartet were strutting their electric stuff and the food and drinks were good. I spent my time speaking to the few folks present who were really interested in decisioning (Chordiant, ILOG, select IBMers) and then went [...]

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Live from DAMA – Impact of Service Oriented Architecture on Data Modeling: A Case Study

March 20, 2008

First session today was some folks from Allstate Financial talking about the Impact of Service Oriented Architecture on Data Modeling: A Case Study. AllState Financial has the large number of data sources typical of a large corporation. Each line of business has its own administrative systems and mergers and acquisitions also create new data sources. [...]

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A post to replace a comment because Tibco can’t count…

March 4, 2008

At least it’s blog cannot. I saw this post by my old friend Paul Vincent – Business rule execution: stateless/transactional, stateful/monitoring, or both? and tried to comment on it. Sadly the Tibco blog can’t add 6 and 2 and so rejected my comment (the sum was spam protection). So here’s my comment:
I am not sure [...]

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Here’s how one company is using EDM to improve healthcare

March 4, 2008

Silverlink is an interesting company whose approach is to apply science to drive healthcare behaviors in a scalable manner. They made some announcements today at the Health 2.0 conference. I recently got a chance to speak with the CEO (Stan Nowak) and his team. Silverlink has 50 healthcare clients representing 150 million lives (including 9 [...]

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Live from DIALOG – Breakthrough in Claims Excellence Management

February 26, 2008

Last session of the day was from Rodolfo Viola of Swiss Medical Argentina on Breakthrough in Claims Excellence Management. Claims is, of course, a prime target for rules-based automation so I was excited to hear how an organization outside of North America/Europe was handling it.
Swiss Medical is a privately owned company founded as a clinic [...]

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