Eric Arnum, editor of Warranty Week, gave an overview of the industry as a whole. Clearly the recession is taking its toll. Starting with new home builders it has spread to RV makers, auto makers, various retailers, GE and others. Warranty is important in many of these company’s challenges and some, like Hyundai, are trying [...]
claims
I am at the Warranty Chain Management conference this week and blogging more or less live. Despite the economy there are over 180 attendees as well as a solid core of sponsors. Marc McKenzie, Global Director of Corporate Warranty & Governance from Hewlett Packard gave the opening presentation on the strategic importance of warranty. HP [...]
Some weeks back I got a review on Tavant, a 700 person IT services and solutions company with a focus in financial services (mortgage, trading and security), ebusiness and Service Operations such as warranty management. I was interested in their warranty product as part of my research into the warranty claims space. The product – [...]
Continuing some posts on next generation warranty systems in the build up to speaking at the Warranty Chain management conference I thought I would contrast how current generation warranty systems handle critical decisions with how next generation systems do so. Decision Today Next Generation Is Claim Valid? Data validation rules are coded into the user [...]
I am going to speaking next week at the Warranty Chain Management Conference (registration is still open) on Next Generation Warranty Systems. I hope to post a couple of product reviews (like the SAS Warranty one already posted) this week but I thought I could also talk a little about my topic. The basic premise [...]
Some weeks ago I got a chance to review the SAS Warranty Analysis product. I was doing some due-diligence before my speech on “Next Generation Warranty Systems” to the Warranty Chain Management Conference in April. The folks from SAS began with an Aberdeen quote from 2006: Warranty analytics is the number one differentiator between Best [...]
Syndicated from Smart Data Collective Natasha Balac from UC San Diego and Michael Zeller from Zementis (their product was blogged here and their support for the amazon.com compute cloud was discussed here) presented on the use of Medicare and Medicaid data to detect and prevent fraud. The high computing center at UC San Diego (San [...]
Syndicated from Smart Data Collective John Elder presented a collection of case studies to showcase the ROI of data mining. John started by making the point that many of his case studies had technical success but not business success – an interesting statistic. John sees three major ways that predictive analytics can help – streamlining, [...]
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 [...]
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 [...]
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 [...]
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 [...]
[amazonify]1422103323:right[/amazonify][amazonify]1422103323::text::::Competing on Analytics: The New Science of Winning[/amazonify] by Tom Davenport and Jeanne Harris Tom and Jeanne have written a new book (building on a paper they wrote some time ago) about what they call “analytic competitors”, that is to say companies that use their analytic prowess not just to enhance their operations but as [...]
