risk management

Carl Farrell came up to talk about sales enablement and execution. 2010 was an interesting year in the Americas as the recovery was very inconsistent between countries in the Americas and across verticals. Strong growth in First Year Fees – 21% in US, 15% in Canada and 56% nearly in Latin America (with the Southern [...]

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 [...]

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 [...]

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 followed up with Steve Culp of Accenture about their announcement of a new Risk Management practice earlier this year. Obviously Accenture has been doing risk management for a long time but they have now brought together people who were already working in this space in different verticals and in their information systems practice as [...]

I got an update from GDS Link recently, a risk management solutions company focused on data access, decisioning and model implementation. Launched in 2006 by folks former Experian – Scorex management, the company’s core product is Dataview360 (launched in 2007). They have 23 customers worldwide. As I have noted before, a common problem in financial [...]

Syndicated from Smart Data Collective Risk management is an important topic for many organizations, especially those in financial services. Most of these organizations acquire risk one customer, one transaction at a time – this customer is not going to be able to pay (risk), this transaction is fraudulent (risk), this deal will not make money [...]

An old friend introduced me to Rex Huston <rhuston@maisearch.com> before the break. Rex is looking for analytics folks for a number of open position. He is seeking highly-skilled and motivated professionals who can effectively assess the strengths and weaknesses of complex, statistically-based models used by top-tier financial services clients for credit risk management, market risk [...]

IBM today released a new report on the progress companies are making adopting business analytics and optimization. The paper is called “Smarter decisions for optimized performance” (love it) and focuses on how companies are using analytics and optimization to “breakaway” – a sports analogy such as where a cyclist breaks away from the pack not [...]

In Risk Is Not a Quarterly Exercise; It Should Be a Way of Life Norman Marks asks an interesting and pertinent question: Is your risk management program a quarterly exercise or a way of life in the business? One of the most uses of analytics is in risk assessment – predicting fraud or credit risk [...]

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 [...]

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 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 I am going to be talking about Premier Bankcard, a SAS client. As [...]

I caught up with David Ullman of Robust Decisions the other day. Robust Decisions has an interesting product called Accord aimed at helping with decisions. While it is not aimed at exactly the same kind of decisions as the systems I usually review, I like the product and think there is some interesting synergy between [...]

Syndicated from b-eye network Last week I was at Predictive Analytics World, a brand new show on the business value of predictive analytics. The show was a great success, I think, as it attracted a decent audience in very tough times and succeeded in bringing together not just those building predictive analytic models, but also [...]

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 [...]

The Forrester Blog For Information & Knowledge Management Professionals had a nice post on The Growing Importance Of Enterprise Risk Management. One of the key points was this one: 2) They will focus on driving risk management into business decisions. Risk management is not new. Enterprises have internal auditors, Chief Risk Officers, and others responsible [...]

Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]