3 Ways Insurance Carriers Can Improve the Policyholder Experience
2022 has been a year of drastic weather events; including wildfires, devastating floods, and large-scale storms, such as Hurricane Ian. In a recent report, insurance broker Aon found that insured losses are expected to exceed $100B for the third year in a row, with Hurricane Ian likely to be the most costly disaster seen this […]
Best of 2022: Round Up
As 2022 wraps up, we would like to recap our top posts of the year in Data Integrity, Data Integration, Data Quality, Data Governance, Location Intelligence, SAP Automation, and how data affects specific industries. Let’s take a look! Best of Data Integrity Data integrity empowers your businesses to make fast, confident decisions based on trusted […]
Best of 2022: Top 5 Insurance Blog Posts
In insurance, data is everything. Accurate, consistent, and contextualized data enables faster, more confident decisions when it comes to your underwriting, claims processing, risk assessments, and beyond. Let’s explore the impact of data in this industry as we count down the top 5 insurance blog posts of 2022. #5 3 Steps to Increase Insurance Claims […]
How are Insurance Carriers Maximizing Their Return on Investment?
The hallmark of business leaders in the 2020s is their capacity to successfully execute digital transformation initiatives. Globally, businesses spent $1.3 trillion on digital transformation in 2020. That number is expected to rise to $2.3 trillion by 2023. For insurance carriers, the primary area of focus has been portfolio and risk realignment, shifting from commoditized […]
3 Data Integrity Examples in the Insurance Industry
In virtually every industry, data is playing a more important role than ever before in driving decisions. There are vast increases in the amount of data available, including information that would never have been imaginable in the past (such as mobile trace data). At the same time, the ability to store, manage, and process all […]
6 Industries Where Mainframes are Still King
Ever wonder why companies like IBM are still selling mainframes? Hint: It’s not because they’re living in the past. It’s because the mainframe is still crucial in a number of industries. It’s telling that mainframes are important not only because some companies are still using the mainframe systems they bought years ago and have yet […]
4 Examples of How Enriched Data Can Generate Value
Advanced business analytics deliver competitive advantage to organizations that have the foresight to leverage data-driven insights as part of their strategic decision-making processes. A company’s first-party data is one of its most valuable assets, but the value of that information falls far short of its potential if it is not also enriched with trusted, curated […]
4 Priorities in Building Insurance Data Governance initiatives
Traditional insurance data governance initiatives frequently fall short of expectations because they focus too heavily on policies, compliance, and enforcement. That can lead to a disconnect between business users, the data governance team, and executive management. A truly successful data governance process is built on four key priorities that put business value in perspective, creating […]
Operationalizing Risk Data for Insurance
The use of location data has long been part of insurance technology trends. It touches on virtually every aspect of the business, starting with risk assessment and underwriting and extending to claims management, fraud detection, and new customer acquisition. Today, businesses have access to more location-based data than ever, including satellite imagery, mobility data from […]
6 Industries That Stick with Mainframes and Why They Do
What do 96 of the world’s 100 largest banks, 90% of the largest insurance companies, 92% of the largest retailers in the United States, and 71% of the Fortune 500 have in common? They all continue to depend on mainframes for their most business-critical processing. Despite a drumbeat of tech punditry that for years has […]
4 Ways Property Graph Simplifies Property Data Enrichment
When a property is central to business decisions, data enrichment becomes critical to success by providing a 360-degree view of the factors that influence those decisions. The reality is, most businesses have limited property data in-house, often just an address, which means they depend on third-party data providers like Precisely to fill in the gaps. […]
5 Use Cases for Enriched Data in the Insurance Industry
At its core, the insurance industry is about accurately predicting risk, pricing policies to sufficiently cover that risk, and minimizing fraud. Enriched data such as geospatial data adds richness and location context and accurate insurance characteristics to existing information about policyholders, insured properties, and more. For data-driven insurance companies, data about properties and locations and […]