underwriting

Extracting and designing a cross-channel decision in Insurance – an example

May 11, 2011

Some weeks back I wrote a series of posts on the role of Decision Management in Insurance. One post was called multi-channel distribution and customer communication and outlined how Decision Services that automate customer decisions improve customer treatment in a multi-channel world by improving their accuracy, timeliness and consistency.
The diagram at left shows how this [...]

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Webinar: From Business Intelligence to Predictive Analytics

April 22, 2011

[ June 7, 2011; 10:00 am to 11:00 am. ] On June 7th, 10am Pacific/1pm Eastern I am giving a free webinar “From Business Intelligence to Predictive Analytics”. Companies are taking the next step from Business Intelligence to a truly intelligent business by integrating predictive analytics into their operations. Companies need to build on their investments in reporting, visualization and dashboards to move up the [...]

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First Look – Eagle Eye Analytics

March 30, 2011

Eagle Eye Analytics is an analytics company offering advanced predictive modeling to the Property and Casualty insurance market. The company was formed 4 years ago and has been marketing a machine learning SaaS product for the last three years. The company prides itself on selling solutions to clients the way they want to buy them [...]

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Decision Management and Insurance – Apply Smarts to Underwriting

February 16, 2011

When companies use Decision Management to put data and analytics to work in underwriting, the results are dramatic. For example, one insurance company with about 750,000 policies implemented Decision Management and risk-based underwriting for use across its channels. The company achieved an 8-point reduction in combined ratio in its first year. This was the result [...]

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Decision Management and Insurance – Putting the Data To Work

February 15, 2011

At the core of the Top 10 Imperatives for Insurers is putting the data to work – across channels, in day-to-day operations, in customer interactions and more.  Putting data to work means leveraging the historical data you have about your operations, performance and policy holders to systematically increase the value of your corporate decision assets. [...]

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Decision Management and Insurance – A Series

February 10, 2011

Insurers face new and growing challenges as the market moves into recovery in 2011: more delivery channels, demographic shifts, a changing competitive landscape and a rapidly evolving regulatory and compliance environment. Many insurers are faced with meeting this challenges hampered by inflexible legacy applications, underutilized data from internal systems and external sources, and manual spreadsheets [...]

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Business Rules Forum 2009 – Day 2 #brf

November 4, 2009

The second full day of the Business Rules Forum/Enterprise Decision Management Summit is over and once again I have been taking notes rather than blogging live. Once again there were some great sessions – today I heard Steve Hendrick of IDC, Sandeep Gupta of Equifax, Chaitan Sharma of DAASL, Zach Springborn of OneData and Mo [...]

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Business Rules Forum 2009 – Day 1 #brf

November 4, 2009

It’s the end of day 1 of the Business Rules Forum/Enterprise Decision Management Summit and time to write a wrap up post for the day – no live blogging today as I have too much on as track chair to sit behind my keyboard!
Today I got to attend Jim Sinur’s keynote and sessions from Roger [...]

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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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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 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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Building Blocks of Decision Management

October 30, 2008

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

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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 – An Enterprise Decision Engine for Originations

April 30, 2008

Wednesday begins with Antonio Paulo Conde from Citibank Brazil talking about an enterprise decision engine for originations in their retail bank.   Measuring and understanding the risk of new financial products is important and became more so as the sales teams gained more negotiation power. To address this Citibank used Blaze Advisor to build an [...]

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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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Using EDM to reduce and control business costs

February 4, 2008

First post in my series of posts on using EDM to thrive in a recession. Let’s start with the easy stuff – companies always look to reduce and control business costs in a recession so how can EDM help you do this?

One of the costs many businesses carry, almost without thinking, is a certain level [...]

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Live from Business Rules Forum – Reaping the Benefits of Rules through SOA and Business Rule Management at Travelers

October 24, 2007

Alan Weiss of Travelers and Brian Stucky of InScope presented on Reaping the Benefits of Rules through SOA and Business Rule Management at Travelers. Travelers is a Fortune 100 insurance carrier and Alan is part of a group focused on moving control over processing into the business. The key purpose of business rules in this [...]

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Live from Business Rules Forum – True Adventures in Business Rules.

October 24, 2007

Paul Armborst, someone I have known for a long time, was up after lunch talking on True Adventures in Business Rules. Paul is from Westfield Group, a top 50 insurance company based in Ohio. Back in the 1990s needed to transform their business – from a mainframe/back office company to one where agents could serve [...]

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