Insurance

Subtitled “from 0 to 1400”, this case study discussed how Unum (an insurance company) introduced business rules. Back in 2009 their rules were scattered, siloed, hidden in requirements documents and in different formats (from code to if/then statements to long verbose notes). And even though they tried to focus on rules, they were often embedded [...]

Eric Siegel opened Predictive Analytics World with a keynote on Five Ways Predictive Analytics Cuts Enterprise Risk. Predictive analytics is a hot topic these days, with demand in terms of jobs for instance doubling since the beginning of 2009. Yet the audience was really clear that most executives do not get the true power of [...]

I will be presenting a webinar with Deb Smallwood of Strategy Meets Action on The top 10 imperatives for insurers and the role of decision management in addressing them on November 10th, 2010 at 10am Pacific. As Insurers position for market recovery and deal with the forces reshaping the insurance business, SMA’s industry research has [...]

Syndicated from ebizQ I saw yet another article about the claims being paid by the BP Fund this weekend – BP fund czar promises bigger, faster claims – and it struck me that every time there is a disaster we go through this. Something happens, lots of people need to make claims, some process gets [...]

Insurance claims fraud is a huge deal, with most estimates seeing perhaps 10% of claims made being fraudulent – worth at least $30Bn/year. As a result the value of small improvement is huge. Of course, from my perspective, fraud is one of the classic uses of decision management and predictive analytics. Obviously the current economic [...]

I am presenting on Decision Management – putting rules and analytics to work at the Connecticut Business Rules User Group on Thursday December 17th at 5:30. This event is open to the public and is free. Registration is required – email president@hartford.theiiba.org. The schedule is: Doors open at 5:30PM for registration and networking Meeting Intro: [...]

I got a chance to catch up with the folks from Red Hat recently. I have reviewed the new functionality that Mark Proctor and his team have been adding to turn the old Drools rule engine into a competitive Business Rules Management System or BRMS when the latest release came out. This time we chatted [...]

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 [...]

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 [...]

Syndicated from BeyeNetwork I am at the Premier Business Leadership Series, SAS/BetterManagement.com’s event, and I got to attend a great panel on Analytics in the Executive Suite. Barbara Pindar of Aeropostale, Eric Webster of State Farm Insurance, Cameron Davies of Disney and Keith Collins of SAS made up the panel. Each panelist gave a quick introduction: [...]

I am spending some time as a guest of SAS this week and we got started today with Jim Goodnight, CEO of SAS. He began by describing SAS Institute’s 33 years of continuous revenue growth as well as similarly growing reinvestment in R&D. SAS has not laid anyone off this year, for which kudos, and [...]

I got a chance to catch up with Andrea Allmon of FICO to hear about their new Insurance Fraud Manager release (3.0 in July). This is a timely topic because of the debates around healthcare at the moment. In all the discussions about healthcare costs you never hear about the amount of fraud involved, yet [...]

Jim Sinur introduced the session by describing how Gartner saw BPM being used to turn a cost reduction axe into a cost reduction scalpel during the recent recession – cutting more precisely. The current economic climate he says is “nirvana” for BPM and BPM is not perceived as a luxury but a necessity. The session’s [...]

I got a chance to sit down with Nancy Pearson, Vice President BPM, SOA, WebSphere and Industry Marketing at IBM last week to talk about Smart Work and other related topics. Smart Work is one of the four major themes that are part of IBM’s overall Smarter Planet initiative – New Intelligence, Green and Beyond, [...]

I am giving a tutorial and a presentation on putting predictive analytics to work at the forthcoming Predictive Analytics World show in Washington DC (October 20th-21st with tutorials on the 19th). I always like to illustrate my points with real examples and while I was preparing the presentation I had a chance to talk to [...]

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 [...]

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 [...]

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 [...]

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, [...]