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| business intelligence in insurance: Analytics for Insurance Tony Boobier, 2016-10-10 The business guide to Big Data in insurance, with practical application insight Big Data and Analytics for Insurers is the industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. Written from a non-IT perspective, this book focusses less on the architecture and technical details, instead providing practical guidance on translating analytics into target delivery. The discussion examines implementation, interpretation, and application to show you what Big Data can do for your business, with insights and examples targeted specifically to the insurance industry. From fraud analytics in claims management, to customer analytics, to risk analytics in Solvency 2, comprehensive coverage presented in accessible language makes this guide an invaluable resource for any insurance professional. The insurance industry is heavily dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential – yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy. Understand what Big Data is and what it can do Delve into Big Data's specific impact on the insurance industry Learn how advanced analytics can revolutionise the industry Bring Big Data out of IT and into strategy, management, marketing, and more Big Data and analytics is changing business – but how? The majority of Big Data guides discuss data collection, database administration, advanced analytics, and the power of Big Data – but what do you actually do with it? Big Data and Analytics for Insurers answers your questions in real, everyday business terms, tailored specifically to the insurance industry's unique needs, challenges, and targets. |
| business intelligence in insurance: Applied Insurance Analytics Patricia L. Saporito, 2015 Data is the insurance industry's single greatest asset. Yet many insurers radically underutilize their data assets, and are failing to fully leverage modern analytics. This makes them vulnerable to traditional and non-traditional competitors alike. Today, insurers largely apply analytics in important but stovepiped operational areas like underwriting, claims, marketing and risk management. By and large, they lack an enterprise analytic strategy -- or, if they have one, it is merely an architectural blueprint, inadequately business-driven or strategically aligned. Now, writing specifically for insurance industry professionals and leaders, Patricia Saporito uncovers immense new opportunities for driving competitive advantage from analytics -- and shows how to overcome the obstacles that stand in your way. Drawing on 25+ years of insurance industry experience, Saporito introduces proven best practices for developing, maturing, and profiting from your analytic capabilities. This user-friendly handbook advocates an enterprise strategy approach to analytics, presenting a common framework you can quickly adapt based on your unique business model and current capabilities. Saporito reviews common analytic applications by functional area, offering specific case studies and examples, and helping you build upon the analytics you're already doing. She presents data governance models and models proven to help you organize and deliver trusted data far more effectively. Finally, she provides tools and frameworks for improving the analytic IQ of your entire enterprise, from IT developers to business users. |
| business intelligence in insurance: Information Technology - New Generations Shahram Latifi, 2018-04-12 This volume presents a collection of peer-reviewed, scientific articles from the 15th International Conference on Information Technology – New Generations, held at Las Vegas. The collection addresses critical areas of Machine Learning, Networking and Wireless Communications, Cybersecurity, Data Mining, Software Engineering, High Performance Computing Architectures, Computer Vision, Health, Bioinformatics, and Education. |
| business intelligence in insurance: Business Intelligence: Concepts, Methodologies, Tools, and Applications Management Association, Information Resources, 2015-12-29 Data analysis is an important part of modern business administration, as efficient compilation of information allows managers and business leaders to make the best decisions for the financial solvency of their organizations. Understanding the use of analytics, reporting, and data mining in everyday business environments is imperative to the success of modern businesses. Business Intelligence: Concepts, Methodologies, Tools, and Applications presents a comprehensive examination of business data analytics along with case studies and practical applications for businesses in a variety of fields and corporate arenas. Focusing on topics and issues such as critical success factors, technology adaptation, agile development approaches, fuzzy logic tools, and best practices in business process management, this multivolume reference is of particular use to business analysts, investors, corporate managers, and entrepreneurs in a variety of prominent industries. |
| business intelligence in insurance: Applied Insurance Analytics Patricia L Saporito, 2014-06-16 Insurers: use analytics to drive far more value from your most important asset -- data! Today, many insurers radically underutilize their data, leaving them vulnerable to traditional and non-traditional competitors alike. Now, drawing on 25 years of industry experience, Patricia Saporito shows how to systematically leverage analytics to improve business performance and customer satisfaction throughout any insurance business. Applied Insurance Analytics demonstrates how to use analytics to systematically improve operations ranging from underwriting and risk management to claims. Even more important: it will help you drive more value everywhere by defining a focused enterprise-wide analytics strategy, and overcoming the challenges that stand in your way. Saporito helps you assess your current analytics maturity, choose the new applications that offer the most value, and master best practices from throughout the industry and beyond. Throughout, she helps you gain more value from data assets, technologies and tools you've already invested in. You'll find new case studies, practical tools, and easy templates for improving the Analytics IQ of your entire enterprise. For every insurance industry professional and manager concerned with analytics, including users, IT pros, sales/marketing specialists, and data scientists. This book will also be valuable to students in any MBA or other program focused on insurance or risk management, and to many students in IT or analytics-specific programs. |
| business intelligence in insurance: Business Intelligence and Information Technology Aboul Ella Hassanien, Yaoqun Xu, Zhijie Zhao, Sabah Mohammed, Zhipeng Fan, 2021-12-15 This book constitutes the refereed proceedings of the 2021 International Conference on Business Intelligence and Information Technology (BIIT 2021) held in Harbin, China, during December 18–20, 2021. BIIT 2021 is organized by the School of Computer and Information Engineering, Harbin University of Commerce, and supported by Scientific Research Group in Egypt (SRGE), Egypt. The papers cover current research in electronic commerce technology and application, business intelligence and decision making, digital economy, accounting informatization, intelligent information processing, image processing and multimedia technology, signal detection and processing, communication engineering and technology, information security, automatic control technique, data mining, software development, and design, blockchain technology, big data technology, artificial intelligence technology. |
| business intelligence in insurance: Business Intelligence Roadmap Larissa Terpeluk Moss, S. Atre, 2003 This software will enable the user to learn about business intelligence roadmap. |
| business intelligence in insurance: The AI Book Ivana Bartoletti, Anne Leslie, Shân M. Millie, 2020-06-29 Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important |
| business intelligence in insurance: Disrupting Finance Theo Lynn, John G. Mooney, Pierangelo Rosati, Mark Cummins, 2018-12-06 This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry. |
| business intelligence in insurance: The Effect of Coronavirus Disease (COVID-19) on Business Intelligence M.T. Alshurideh, Aboul Ella Hassanien, Ra’ed Masa’deh, 2021-04-02 This book includes recent research works on how business around the world affected by the time of COVID-19 pandemic. The impact of recent technological developments has had a tremendous impact on how we manage disasters. These developments have changed how countries and governments collect information. The COVID-19 pandemic has forced online service companies to maintain and build relationships with consumers when their world turns. Businesses are now facing tension between generating sales during a period of severe economic hardship and respect for threats to life and livelihoods that have changed consumer preferences. |
| business intelligence in insurance: Introduction to Data Mining and Its Applications S. Sumathi, S.N. Sivanandam, 2006-09-26 This book explores the concepts of data mining and data warehousing, a promising and flourishing frontier in data base systems and new data base applications and is also designed to give a broad, yet in-depth overview of the field of data mining. Data mining is a multidisciplinary field, drawing work from areas including database technology, AI, machine learning, NN, statistics, pattern recognition, knowledge based systems, knowledge acquisition, information retrieval, high performance computing and data visualization. This book is intended for a wide audience of readers who are not necessarily experts in data warehousing and data mining, but are interested in receiving a general introduction to these areas and their many practical applications. Since data mining technology has become a hot topic not only among academic students but also for decision makers, it provides valuable hidden business and scientific intelligence from a large amount of historical data. It is also written for technical managers and executives as well as for technologists interested in learning about data mining. |
| business intelligence in insurance: Business Intelligence Success Factors Olivia Parr Rud, 2009-06-02 Over the last few decades, the growth of Business Intelligence has enabled companies to streamline many processes and expand into new markets on an unprecedented scale. New BI technologies are also enabling mass collaboration and innovation. However, implementation of these BI solutions often gives rise to new challenges. Business Intelligence Success Factors shows you how to turn those challenges into opportunities by mastering five key skills. Olivia Parr Rud shares insights gained from her two decades of experience in Business Intelligence to offer the latest practices that are emerging in organizational development. Written to help enhance your understanding of the current business climate and to provide the tools necessary to thrive in this new global economy, Business Intelligence Success Factors examines the components of chaos theory, complex adaptive systems, quantum physics, and evolutionary biology. A scientific framework for these new corporate issues helps explain why developing these key competencies are critical, given the speed of change, globalization, as well as advancements in technology and Business Intelligence. Divided into four cohesive parts, Business Intelligence Success Factors explores: The current business landscape as well as the latest scientific research: today's business realities and how and why they can lead to chaos New scientific models for viewing the global economy The five essential competencies—Communication, Collaboration, Innovation, Adaptability, and Leadership—that improve an organization's ability to leverage the new opportunities in a volatile global economy Profiles of several amazing leaders who are working to make a difference Cutting-edge research and case studies via invited contributors offering a wealth of knowledge and experience Move beyond mere survival to realize breakaway success in the global economy with the practical guidance found in Business Intelligence Success Factors. |
| business intelligence in insurance: Business Intelligence and Big Data Celina M. Olszak, 2020-11-17 The twenty-first century is a time of intensifying competition and progressive digitization. Individual employees, managers, and entire organizations are under increasing pressure to succeed. The questions facing us today are: What does success mean? Is success a matter of chance and luck or perhaps is success a category that can be planned and properly supported? Business Intelligence and Big Data: Drivers of Organizational Success examines how the success of an organization largely depends on the ability to anticipate and quickly respond to challenges from the market, customers, and other stakeholders. Success is also associated with the potential to process and analyze a variety of information and the means to use modern information and communication technologies (ICTs). Success also requires creative behaviors and organizational cleverness from an organization. The book discusses business intelligence (BI) and Big Data (BD) issues in the context of modern management paradigms and organizational success. It presents a theoretically and empirically grounded investigation into BI and BD application in organizations and examines such issues as: Analysis and interpretation of the essence of BI and BD Decision support Potential areas of BI and BD utilization in organizations Factors determining success with using BI and BD The role of BI and BD in value creation for organizations Identifying barriers and constraints related to BI and BD design and implementation The book presents arguments and evidence confirming that BI and BD may be a trigger for making more effective decisions, improving business processes and business performance, and creating new business. The book proposes a comprehensive framework on how to design and use BI and BD to provide organizational success. |
| business intelligence in insurance: The Profit Impact of Business Intelligence Steve Williams, Nancy Williams, 2010-07-27 The Profit Impact of Business Intelligence presents an A-to-Z approach for getting the most business intelligence (BI) from a company's data assets or data warehouse. BI is not just a technology or methodology, it is a powerful new management approach that – when done right – can deliver knowledge, efficiency, better decisions, and profit to almost any organization that uses it. When BI first came on the scene, it promised a lot but often failed to deliver. The missing element was the business-centric focus explained in this book. It shows how you can achieve the promise of BI by connecting it to your organization's strategic goals, culture, and strengths while correcting your BI weaknesses. It provides a practical, process-oriented guide to achieve the full promise of BI; shows how world-class companies used BI to become leaders in their industries; helps senior business and IT executives understand the strategic impact of BI and how they can ensure a strong payoff from their BI investments; and identifies the most common mistakes organizations make in implementing BI. The book also includes a helpful glossary of BI terms; a BI readiness assessment for your organization; and Web links and extensive references for more information. - A practical, process-oriented book that will help organizations realize the promise of BI - Written by Nancy and Steve Williams, veteran consultants and instructors with hands-on, in the trenches experience in government and corporate business intelligence applications - Will help senior business and IT executives understand the strategic impact of BI and how they can help ensure a strong payoff on BI investments |
| business intelligence in insurance: Tapping into Unstructured Data William H. Inmon, Anthony Nesavich, 2007-12-11 The Definitive Guide to Unstructured Data Management and Analysis--From the World’s Leading Information Management Expert A wealth of invaluable information exists in unstructured textual form, but organizations have found it difficult or impossible to access and utilize it. This is changing rapidly: new approaches finally make it possible to glean useful knowledge from virtually any collection of unstructured data. William H. Inmon--the father of data warehousing--and Anthony Nesavich introduce the next data revolution: unstructured data management. Inmon and Nesavich cover all you need to know to make unstructured data work for your organization. You’ll learn how to bring it into your existing structured data environment, leverage existing analytical infrastructure, and implement textual analytic processing technologies to solve new problems and uncover new opportunities. Inmon and Nesavich introduce breakthrough techniques covered in no other book--including the powerful role of textual integration, new ways to integrate textual data into data warehouses, and new SQL techniques for reading and analyzing text. They also present five chapter-length, real-world case studies--demonstrating unstructured data at work in medical research, insurance, chemical manufacturing, contracting, and beyond. This book will be indispensable to every business and technical professional trying to make sense of a large body of unstructured text: managers, database designers, data modelers, DBAs, researchers, and end users alike. Coverage includes What unstructured data is, and how it differs from structured data First generation technology for handling unstructured data, from search engines to ECM--and its limitations Integrating text so it can be analyzed with a common, colloquial vocabulary: integration engines, ontologies, glossaries, and taxonomies Processing semistructured data: uncovering patterns, words, identifiers, and conflicts Novel processing opportunities that arise when text is freed from context Architecture and unstructured data: Data Warehousing 2.0 Building unstructured relational databases and linking them to structured data Visualizations and Self-Organizing Maps (SOMs), including Compudigm and Raptor solutions Capturing knowledge from spreadsheet data and email Implementing and managing metadata: data models, data quality, and more |
| business intelligence in insurance: Business Intelligence Competency Centers Gloria J. Miller, Dagmar Bräutigam, Stefanie V. Gerlach, 2006-05-11 Transform data into action for competitive advantage The knowledge assets of an organization are becoming increasingly important for competitive advantage, and therefore, the way in which knowledge is created, renewed, and communicated is critical. This book provides practical insights into how this may be achieved through the establishment of a Business Intelligence Competency Centre and is a valuable read for 'information professionals.' --Bill Sturman, Information Architecture Project Manager The Open University, United Kingdom BI is more than technology and projects. BI must live in the organization--as a BICC. This book helps to make BI tangible and understandable, bringing it to life. --Miriam Eisenmann, Project Manager (PMP) CSC Ploenzke AG, Germany This book is a must-read for planning and implementing your BICC. It is a pragmatic guide that addresses a lot, if not all, of the questions you'll be asking yourself. Don't miss out on getting a head start from the people who thought this through from start to finish . . . Pray your competitors don't get hold of this book! --Claudia Imhoff, President Intelligent Solutions, Inc., USA Creating a BICC forces the organization to focus on the importance of centralizing the gathering, interpreting, and analyzing of information to create business insight. --Anne Ulyate, Group Manager Business Intelligence Mutual & Federal, South Africa BI is a highly visible element in the 'business value' trend for IT investments. Initiatives, such as competency centers, should empower user organizations to drive even more value out of their BI investments. --Marianne Kolding, Director, European ServicesIDC, United Kingdom |
| business intelligence in insurance: Dimensional Modeling: In a Business Intelligence Environment Chuck Ballard, Daniel M. Farrell, Amit Gupta, Carlos Mazuela, Stanislav Vohnik, IBM Redbooks, 2012-07-31 In this IBM Redbooks publication we describe and demonstrate dimensional data modeling techniques and technology, specifically focused on business intelligence and data warehousing. It is to help the reader understand how to design, maintain, and use a dimensional model for data warehousing that can provide the data access and performance required for business intelligence. Business intelligence is comprised of a data warehousing infrastructure, and a query, analysis, and reporting environment. Here we focus on the data warehousing infrastructure. But only a specific element of it, the data model - which we consider the base building block of the data warehouse. Or, more precisely, the topic of data modeling and its impact on the business and business applications. The objective is not to provide a treatise on dimensional modeling techniques, but to focus at a more practical level. There is technical content for designing and maintaining such an environment, but also business content. For example, we use case studies to demonstrate how dimensional modeling can impact the business intelligence requirements for your business initiatives. In addition, we provide a detailed discussion on the query aspects of BI and data modeling. For example, we discuss query optimization and how you can determine performance of the data model prior to implementation. You need a solid base for your data warehousing infrastructure . . . . a solid data model. |
| business intelligence in insurance: AI Meets BI Lakshman Bulusu, Rosendo Abellera, 2020-11-03 With the emergence of Artificial Intelligence (AI) in the business world, a new era of Business Intelligence (BI) has been ushered in to create real-world business solutions using analytics. BI developers and practitioners now have tools and technologies to create systems and solutions to guide effective decision making. Decisions can be made on the basis of more reliable and accurate information and intelligence, which can lead to valuable, actionable insights for business. Previously, BI professionals were stymied by bad or incomplete data, poorly architected solutions, or even just outright incapable systems or resources. With the advent of AI, BI has new possibilities for effectiveness. This is a long-awaited phase for practitioners and developers and, moreover, for executives and leaders relying on knowledgeable and intelligent decision making for their organizations. Beginning with an outline of the traditional methods for implementing BI in the enterprise and how BI has evolved into using self-service analytics, data discovery, and most recently AI, AI Meets BI first lays out the three typical architectures of the first, second, and third generations of BI. It then takes an in-depth look at various types of analytics and highlights how each of these can be implemented using AI-enabled algorithms and deep learning models. The crux of the book is four industry use cases. They describe how an enterprise can access, assess, and perform analytics on data by way of discovering data, defining key metrics that enable the same, defining governance rules, and activating metadata for AI/ML recommendations. Explaining the implementation specifics of each of these four use cases by way of using various AI-enabled machine learning and deep learning algorithms, this book provides complete code for each of the implementations, along with the output of the code, supplemented by visuals that aid in BI-enabled decision making. Concluding with a brief discussion of the cognitive computing aspects of AI, the book looks at future trends, including augmented analytics, automated and autonomous BI, and security and governance of AI-powered BI. |
| business intelligence in insurance: Predictive Business Analytics Lawrence Maisel, Gary Cokins, 2013-09-26 Discover the breakthrough tool your company can use to make winning decisions This forward-thinking book addresses the emergence of predictive business analytics, how it can help redefine the way your organization operates, and many of the misconceptions that impede the adoption of this new management capability. Filled with case examples, Predictive Business Analytics defines ways in which specific industries have applied these techniques and tools and how predictive business analytics can complement other financial applications such as budgeting, forecasting, and performance reporting. Examines how predictive business analytics can help your organization understand its various drivers of performance, their relationship to future outcomes, and improve managerial decision-making Looks at how to develop new insights and understand business performance based on extensive use of data, statistical and quantitative analysis, and explanatory and predictive modeling Written for senior financial professionals, as well as general and divisional senior management Visionary and effective, Predictive Business Analytics reveals how you can use your business's skills, technologies, tools, and processes for continuous analysis of past business performance to gain forward-looking insight and drive business decisions and actions. |
| business intelligence in insurance: New Horizons for a Data-Driven Economy José María Cavanillas, Edward Curry, Wolfgang Wahlster, 2016-04-04 In this book readers will find technological discussions on the existing and emerging technologies across the different stages of the big data value chain. They will learn about legal aspects of big data, the social impact, and about education needs and requirements. And they will discover the business perspective and how big data technology can be exploited to deliver value within different sectors of the economy. The book is structured in four parts: Part I “The Big Data Opportunity” explores the value potential of big data with a particular focus on the European context. It also describes the legal, business and social dimensions that need to be addressed, and briefly introduces the European Commission’s BIG project. Part II “The Big Data Value Chain” details the complete big data lifecycle from a technical point of view, ranging from data acquisition, analysis, curation and storage, to data usage and exploitation. Next, Part III “Usage and Exploitation of Big Data” illustrates the value creation possibilities of big data applications in various sectors, including industry, healthcare, finance, energy, media and public services. Finally, Part IV “A Roadmap for Big Data Research” identifies and prioritizes the cross-sectorial requirements for big data research, and outlines the most urgent and challenging technological, economic, political and societal issues for big data in Europe. This compendium summarizes more than two years of work performed by a leading group of major European research centers and industries in the context of the BIG project. It brings together research findings, forecasts and estimates related to this challenging technological context that is becoming the major axis of the new digitally transformed business environment. |
| business intelligence in insurance: Business Intelligence Esteban Zimányi, 2014-03-20 To large organizations, business intelligence (BI) promises the capability of collecting and analyzing internal and external data to generate knowledge and value, thus providing decision support at the strategic, tactical, and operational levels. BI is now impacted by the “Big Data” phenomena and the evolution of society and users. In particular, BI applications must cope with additional heterogeneous (often Web-based) sources, e.g., from social networks, blogs, competitors’, suppliers’, or distributors’ data, governmental or NGO-based analysis and papers, or from research publications. In addition, they must be able to provide their results also on mobile devices, taking into account location-based or time-based environmental data. The lectures held at the Third European Business Intelligence Summer School (eBISS), which are presented here in an extended and refined format, cover not only established BI and BPM technologies, but extend into innovative aspects that are important in this new environment and for novel applications, e.g., pattern and process mining, business semantics, Linked Open Data, and large-scale data management and analysis. Combining papers by leading researchers in the field, this volume equips the reader with the state-of-the-art background necessary for creating the future of BI. It also provides the reader with an excellent basis and many pointers for further research in this growing field. |
| business intelligence in insurance: Applied Artificial Intelligence: Where AI Can Be Used In Business Francesco Corea, 2018-03-09 This book deals with artificial intelligence (AI) and its several applications. It is not an organic text that should be read from the first page onwards, but rather a collection of articles that can be read at will (or at need). The idea of this work is indeed to provide some food for thoughts on how AI is impacting few verticals (insurance and financial services), affecting horizontal and technical applications (speech recognition and blockchain), and changing organizational structures (introducing new figures or dealing with ethical issues). The structure of the chapter is very similar, so I hope the reader won’t find difficulties in establishing comparisons or understanding the differences between specific problems AI is being used for. The first chapter of the book is indeed showing the potential and the achievements of new AI techniques in the speech recognition domain, touching upon the topics of bots and conversational interfaces. The second and thirds chapter tackle instead verticals that are historically data-intensive but not data-driven, i.e., the financial sector and the insurance one. The following part of the book is the more technical one (and probably the most innovative), because looks at AI and its intersection with another exponential technology, namely the blockchain. Finally, the last chapters are instead more operative, because they concern new figures to be hired regardless of the organization or the sector, and ethical and moral issues related to the creation and implementation of new type of algorithms. |
| business intelligence in insurance: Information Quality and Governance for Business Intelligence Yeoh, William, 2013-12-31 Business intelligence initiatives have been dominating the technology priority list of many organizations. However, the lack of effective information quality and governance strategies and policies has been meeting these initiatives with some challenges. Information Quality and Governance for Business Intelligence presents the latest exchange of academic research on all aspects of practicing and managing information using a multidisciplinary approach that examines its quality for organizational growth. This book is an essential reference tool for researchers, practitioners, and university students specializing in business intelligence, information quality, and information systems. |
| business intelligence in insurance: Machine Learning in Insurance Jens Perch Nielsen, Alexandru Asimit, Ioannis Kyriakou, 2020-12-02 Machine learning is a relatively new field, without a unanimous definition. In many ways, actuaries have been machine learners. In both pricing and reserving, but also more recently in capital modelling, actuaries have combined statistical methodology with a deep understanding of the problem at hand and how any solution may affect the company and its customers. One aspect that has, perhaps, not been so well developed among actuaries is validation. Discussions among actuaries’ “preferred methods” were often without solid scientific arguments, including validation of the case at hand. Through this collection, we aim to promote a good practice of machine learning in insurance, considering the following three key issues: a) who is the client, or sponsor, or otherwise interested real-life target of the study? b) The reason for working with a particular data set and a clarification of the available extra knowledge, that we also call prior knowledge, besides the data set alone. c) A mathematical statistical argument for the validation procedure. |
| business intelligence in insurance: Effective Business Intelligence Systems Robert J. Thierauf, 2001-06-30 One step above knowledge management systems are business intelligence systems. Their purpose is to give decision makers a better understanding of their organization's operations, and thus another way to outmaneuver the competition, by helping to find and extract the meaningful relationships, trends, and correlations that underlie the organization's operations and ultimately contribute to its success. Thierauf also shows that by tying critical success factors and key performance indicators into business intelligence systems, an organization's most important financial ratios can also be improved. Comprehensive and readable, Thierauf's book will advance the knowledge and skills of all information systems providers and users. It will also be useful as a text in upper-level courses covering a wide range of topics essential to an understanding of executive business systems generally, and specifically their creation and management. The theme underlying Thierauf's unique text is that a thorough understanding of a company's operations is crucial if the company is to be moved to a higher level of competitive advantage. Although data warehousing, data mining, the Internet, the World Wide Web, and other electronic aids have been in place for at least a decade, it is the remarkable and unique capability of business intelligence systems to utilize them that has in turn revolutionized the ability of decision makers to find, accumulate, organize, and access a wider range of information than was ever before possible. Effective business intelligence systems give decision makers a means to keep their fingers on the pulse of their businesses every step of the way. From this it follows that they are thus able to develop new, more workable means to cope with the competition successfully. Comprehensive and readable, Thierauf's book will advance the knowledge and skills of all information systems providers and users. It will also be useful as a text in upper-level courses covering a wide range of topics essential to an understanding of executive business systems generally, and specifically their creation and management. |
| business intelligence in insurance: Artificial Intelligence and Machine Learning in Business Management Sandeep Kumar Panda, Vaibhav Mishra, R. Balamurali, Ahmed A. Elngar, 2021-11-04 Artificial Intelligence and Machine Learning in Business Management The focus of this book is to introduce artificial intelligence (AI) and machine learning (ML) technologies into the context of business management. The book gives insights into the implementation and impact of AI and ML to business leaders, managers, technology developers, and implementers. With the maturing use of AI or ML in the field of business intelligence, this book examines several projects with innovative uses of AI beyond data organization and access. It follows the Predictive Modeling Toolkit for providing new insight on how to use improved AI tools in the field of business. It explores cultural heritage values and risk assessments for mitigation and conservation and discusses on-shore and off-shore technological capabilities with spatial tools for addressing marketing and retail strategies, and insurance and healthcare systems. Taking a multidisciplinary approach for using AI, this book provides a single comprehensive reference resource for undergraduate, graduate, business professionals, and related disciplines. |
| business intelligence in insurance: Applying Business Intelligence Initiatives in Healthcare and Organizational Settings Miah, Shah J., Yeoh, William, 2018-07-13 Data analysis is an important part of modern business administration, as efficient compilation of information allows managers and business leaders to make the best decisions for the financial solvency of their organizations. Understanding the use of analytics, reporting, and data mining in everyday business environments is imperative to the success of modern businesses. Applying Business Intelligence Initiatives in Healthcare and Organizational Settings incorporates emerging concepts, methods, models, and relevant applications of business intelligence systems within problem contexts of healthcare and other organizational boundaries. Featuring coverage on a broad range of topics such as rise of embedded analytics, competitive advantage, and strategic capability, this book is ideally designed for business analysts, investors, corporate managers, and entrepreneurs seeking to advance their understanding and practice of business intelligence. |
| business intelligence in insurance: Generalized Linear Models for Insurance Data Piet de Jong, Gillian Z. Heller, 2008-02-28 This is the only book actuaries need to understand generalized linear models (GLMs) for insurance applications. GLMs are used in the insurance industry to support critical decisions. Until now, no text has introduced GLMs in this context or addressed the problems specific to insurance data. Using insurance data sets, this practical, rigorous book treats GLMs, covers all standard exponential family distributions, extends the methodology to correlated data structures, and discusses recent developments which go beyond the GLM. The issues in the book are specific to insurance data, such as model selection in the presence of large data sets and the handling of varying exposure times. Exercises and data-based practicals help readers to consolidate their skills, with solutions and data sets given on the companion website. Although the book is package-independent, SAS code and output examples feature in an appendix and on the website. In addition, R code and output for all the examples are provided on the website. |
| business intelligence in insurance: Library of Congress Subject Headings Library of Congress, 2013 |
| business intelligence in insurance: Computational Intelligence Applications in Business Intelligence and Big Data Analytics Vijayan Sugumaran, Arun Kumar Sangaiah, Arunkumar Thangavelu, 2017-06-26 There are a number of books on computational intelligence (CI), but they tend to cover a broad range of CI paradigms and algorithms rather than provide an in-depth exploration in learning and adaptive mechanisms. This book sets its focus on CI based architectures, modeling, case studies and applications in big data analytics, and business intelligence. The intended audiences of this book are scientists, professionals, researchers, and academicians who deal with the new challenges and advances in the specific areas mentioned above. Designers and developers of applications in these areas can learn from other experts and colleagues through this book. |
| business intelligence in insurance: DW 2.0: The Architecture for the Next Generation of Data Warehousing W.H. Inmon, Derek Strauss, Genia Neushloss, 2010-07-28 DW 2.0: The Architecture for the Next Generation of Data Warehousing is the first book on the new generation of data warehouse architecture, DW 2.0, by the father of the data warehouse. The book describes the future of data warehousing that is technologically possible today, at both an architectural level and technology level. The perspective of the book is from the top down: looking at the overall architecture and then delving into the issues underlying the components. This allows people who are building or using a data warehouse to see what lies ahead and determine what new technology to buy, how to plan extensions to the data warehouse, what can be salvaged from the current system, and how to justify the expense at the most practical level. This book gives experienced data warehouse professionals everything they need in order to implement the new generation DW 2.0. It is designed for professionals in the IT organization, including data architects, DBAs, systems design and development professionals, as well as data warehouse and knowledge management professionals. - First book on the new generation of data warehouse architecture, DW 2.0 - Written by the father of the data warehouse, Bill Inmon, a columnist and newsletter editor of The Bill Inmon Channel on the Business Intelligence Network - Long overdue comprehensive coverage of the implementation of technology and tools that enable the new generation of the DW: metadata, temporal data, ETL, unstructured data, and data quality control |
| business intelligence in insurance: Analytics at Work Thomas H. Davenport, Jeanne G. Harris, Robert Morison, 2010 As a follow-up to the successful Competing on Analytics, authors Tom Davenport, Jeanne Harris, and Robert Morison provide practical frameworks and tools for all companies that want to use analytics as a basis for more effective and more profitable decision making. Regardless of your company's strategy, and whether or not analytics are your company's primary source of competitive differentiation, this book is designed to help you assess your organization's analytical capabilities, provide the tools to build these capabilities, and put analytics to work. The book helps you answer these pressing questions: What assets do I need in place in my organization in order to use analytics to run my business? Once I have these assets, how do I deploy them to get the most from an analytic approach? How do I get an analytic initiative off the ground in the first place, and then how do I sustain analytics in my organization over time? Packed with tools, frameworks, and all new examples, Analytics at Work makes analytics understandable and accessible and teaches you how to make your company more analytical. |
| business intelligence in insurance: Library of Congress Subject Headings Library of Congress. Cataloging Policy and Support Office, 2007 |
| business intelligence in insurance: Machine Learning and Cognition in Enterprises Rohit Kumar, 2017-11-13 Learn about the emergence and evolution of IT in the enterprise, see how machine learning is transforming business intelligence, and discover various cognitive artificial intelligence solutions that complement and extend machine learning. In this book, author Rohit Kumar explores the challenges when these concepts intersect in IT systems by presenting detailed descriptions and business scenarios. He starts with the basics of how artificial intelligence started and how cognitive computing developed out of it. He'll explain every aspect of machine learning in detail, the reasons for changing business models to adopt it, and why your business needs it. Along the way you'll become comfortable with the intricacies of natural language processing, predictive analytics, and cognitive computing. Each technique is covered in detail so you can confidently integrate it into your enterprise as it is needed. This practical guide gives you a roadmap for transformin g your business with cognitive computing, giving you the ability to work confidently in an ever-changing enterprise environment. What You'll Learn See the history of AI and how machine learning and cognitive computing evolved Discover why cognitive computing is so important and why your business needs it Master the details of modern AI as it applies to enterprises Map the path ahead in terms of your IT-business integration Avoid common road blocks in the process of adopting cognitive computing in your business Who This Book Is For Business managers and leadership teams. |
| business intelligence in insurance: Encyclopedia of Organizational Knowledge, Administration, and Technology Khosrow-Pour D.B.A., Mehdi, 2020-09-29 For any organization to be successful, it must operate in such a manner that knowledge and information, human resources, and technology are continually taken into consideration and managed effectively. Business concepts are always present regardless of the field or industry – in education, government, healthcare, not-for-profit, engineering, hospitality/tourism, among others. Maintaining organizational awareness and a strategic frame of mind is critical to meeting goals, gaining competitive advantage, and ultimately ensuring sustainability. The Encyclopedia of Organizational Knowledge, Administration, and Technology is an inaugural five-volume publication that offers 193 completely new and previously unpublished articles authored by leading experts on the latest concepts, issues, challenges, innovations, and opportunities covering all aspects of modern organizations. Moreover, it is comprised of content that highlights major breakthroughs, discoveries, and authoritative research results as they pertain to all aspects of organizational growth and development including methodologies that can help companies thrive and analytical tools that assess an organization’s internal health and performance. Insights are offered in key topics such as organizational structure, strategic leadership, information technology management, and business analytics, among others. The knowledge compiled in this publication is designed for entrepreneurs, managers, executives, investors, economic analysts, computer engineers, software programmers, human resource departments, and other industry professionals seeking to understand the latest tools to emerge from this field and who are looking to incorporate them in their practice. Additionally, academicians, researchers, and students in fields that include but are not limited to business, management science, organizational development, entrepreneurship, sociology, corporate psychology, computer science, and information technology will benefit from the research compiled within this publication. |
| business intelligence in insurance: Information and Communication Technology in Technical and Vocational Education and Training for Sustainable and Equal Opportunity Reem Khamis Hamdan, Zusammenfassung: This book provide an in-depth analysis of current development concerning ICTs with reference to vocational education and training. It presents best and innovative ICT-based solutions implemented in education and explores controversial topics such as challenges and opportunities. It discusses the role of ICT, vocational education and training in women empowerment. It also examines digital learning, vocational education and sustainable operations. Information and communication technologies have created new opportunities along with new challenges, putting profound and urgent implications on vocational education and training (VET). Nowadays, we must think broadly and make the right choices about VET using innovation and digitalization to boost the quality of vocational education and training, enable the upskilling and reskilling of adults, and enhance the employability of learners. The potential and the impact of ICTs in vocational education and training have yet to be fully exploited, leading to an emerging direction of research. This book helps readers to understand the idea of business education and education governance in a digital age. It is of interest to practitioners, administrators, researchers, teachers, teacher educators and students. |
| business intelligence in insurance: Introduction To Knowledge Information Strategy, An: From Business Intelligence To Knowledge Sciences Akira Ishikawa, Juro Nakagawa, 2013-02-21 This book discusses the essence, concepts, techniques, and applications of business intelligence. It also explores different aspects of crisis management, knowledge management and knowledge sciences, the applications of business intelligence in contingencies and crises, environmental issues and group intelligence.The book is divided into three parts. The first part focuses on the significance of business intelligence, competition and intelligence, competitive information strategy, conflicts on patent issues, and the current state-of-the-art of business intelligence education in the US and France. The second part encompasses business intelligence and risk and crisis management, ecological issues and crisis management, business intelligence and knowledge management, and business intelligence as an organizational knowledge. The third part consists of case studies in business intelligence with special reference to the retail industry and the military arena. This part also focuses on applications of business intelligence.Finally, the book also envisages the future direction of knowledge information strategy. It will be of interest to students, academicians and people working in non-profit or non-government organizations. |
| business intelligence in insurance: Machine Learning for Business Analytics Hemachandran K, Sayantan Khanra, Raul V. Rodriguez, Juan Jaramillo, 2022-07-21 Machine Learning is an integral tool in a business analyst’s arsenal because the rate at which data is being generated from different sources is increasing and working on complex unstructured data is becoming inevitable. Data collection, data cleaning, and data mining are rapidly becoming more difficult to analyze than just importing information from a primary or secondary source. The machine learning model plays a crucial role in predicting the future performance and results of a company. In real-time, data collection and data wrangling are the important steps in deploying the models. Analytics is a tool for visualizing and steering data and statistics. Business analysts can work with different datasets -- choosing an appropriate machine learning model results in accurate analyzing, forecasting the future, and making informed decisions. The global machine learning market was valued at $1.58 billion in 2017 and is expected to reach $20.83 billion in 2024 -- growing at a CAGR of 44.06% between 2017 and 2024. The authors have compiled important knowledge on machine learning real-time applications in business analytics. This book enables readers to get broad knowledge in the field of machine learning models and to carry out their future research work. The future trends of machine learning for business analytics are explained with real case studies. Essentially, this book acts as a guide to all business analysts. The authors blend the basics of data analytics and machine learning and extend its application to business analytics. This book acts as a superb introduction and covers the applications and implications of machine learning. The authors provide first-hand experience of the applications of machine learning for business analytics in the section on real-time analysis. Case studies put the theory into practice so that you may receive hands-on experience with machine learning and data analytics. This book is a valuable source for practitioners, industrialists, technologists, and researchers. |
| business intelligence in insurance: Predictive Analytics Eric Siegel, 2016-01-12 Mesmerizing & fascinating... —The Seattle Post-Intelligencer The Freakonomics of big data. —Stein Kretsinger, founding executive of Advertising.com Award-winning | Used by over 30 universities | Translated into 9 languages An introduction for everyone. In this rich, fascinating — surprisingly accessible — introduction, leading expert Eric Siegel reveals how predictive analytics (aka machine learning) works, and how it affects everyone every day. Rather than a “how to” for hands-on techies, the book serves lay readers and experts alike by covering new case studies and the latest state-of-the-art techniques. Prediction is booming. It reinvents industries and runs the world. Companies, governments, law enforcement, hospitals, and universities are seizing upon the power. These institutions predict whether you're going to click, buy, lie, or die. Why? For good reason: predicting human behavior combats risk, boosts sales, fortifies healthcare, streamlines manufacturing, conquers spam, optimizes social networks, toughens crime fighting, and wins elections. How? Prediction is powered by the world's most potent, flourishing unnatural resource: data. Accumulated in large part as the by-product of routine tasks, data is the unsalted, flavorless residue deposited en masse as organizations churn away. Surprise! This heap of refuse is a gold mine. Big data embodies an extraordinary wealth of experience from which to learn. Predictive analytics (aka machine learning) unleashes the power of data. With this technology, the computer literally learns from data how to predict the future behavior of individuals. Perfect prediction is not possible, but putting odds on the future drives millions of decisions more effectively, determining whom to call, mail, investigate, incarcerate, set up on a date, or medicate. In this lucid, captivating introduction — now in its Revised and Updated edition — former Columbia University professor and Predictive Analytics World founder Eric Siegel reveals the power and perils of prediction: What type of mortgage risk Chase Bank predicted before the recession. Predicting which people will drop out of school, cancel a subscription, or get divorced before they even know it themselves. Why early retirement predicts a shorter life expectancy and vegetarians miss fewer flights. Five reasons why organizations predict death — including one health insurance company. How U.S. Bank and Obama for America calculated the way to most strongly persuade each individual. Why the NSA wants all your data: machine learning supercomputers to fight terrorism. How IBM's Watson computer used predictive modeling to answer questions and beat the human champs on TV's Jeopardy! How companies ascertain untold, private truths — how Target figures out you're pregnant and Hewlett-Packard deduces you're about to quit your job. How judges and parole boards rely on crime-predicting computers to decide how long convicts remain in prison. 182 examples from Airbnb, the BBC, Citibank, ConEd, Facebook, Ford, Google, the IRS, LinkedIn, Match.com, MTV, Netflix, PayPal, Pfizer, Spotify, Uber, UPS, Wikipedia, and more. How does predictive analytics work? This jam-packed book satisfies by demystifying the intriguing science under the hood. For future hands-on practitioners pursuing a career in the field, it sets a strong foundation, delivers the prerequisite knowledge, and whets your appetite for more. A truly omnipresent science, predictive analytics constantly affects our daily lives. Whether you are a |
| business intelligence in insurance: Subject Headings Used in the Dictionary Catalogs of the Library of Congress [from 1897 Through June 1964] Library of Congress. Subject Cataloging Division, 1966 |
BUSINESS | English meaning - Cambridge Dictionary
BUSINESS definition: 1. the activity of buying and selling goods and services: 2. a particular company that buys and….
VENTURE | English meaning - Cambridge Dictionary
VENTURE definition: 1. a new activity, usually in business, that involves risk or uncertainty: 2. to risk going….
ENTERPRISE | English meaning - Cambridge Dictionary
ENTERPRISE definition: 1. an organization, especially a business, or a difficult and important plan, especially one that….
INCUMBENT | English meaning - Cambridge Dictionary
INCUMBENT definition: 1. officially having the named position: 2. to be necessary for someone: 3. the person who has or….
AD HOC | English meaning - Cambridge Dictionary
AD HOC definition: 1. made or happening only for a particular purpose or need, not planned before it happens: 2. made….
LEVERAGE | English meaning - Cambridge Dictionary
LEVERAGE definition: 1. the action or advantage of using a lever: 2. power to influence people and get the results you….
ENTREPRENEUR | English meaning - Cambridge Dictionary
ENTREPRENEUR definition: 1. someone who starts their own business, especially when this involves seeing a new opportunity….
CULTIVATE | English meaning - Cambridge Dictionary
CULTIVATE definition: 1. to prepare land and grow crops on it, or to grow a particular crop: 2. to try to develop and….
EQUITY | English meaning - Cambridge Dictionary
EQUITY definition: 1. the value of a company, divided into many equal parts owned by the shareholders, or one of the….
LIAISE | English meaning - Cambridge Dictionary
LIAISE definition: 1. to speak to people in other organizations, etc. in order to work with them or exchange….
BUSINESS | English meaning - Cambridge Dictionary
BUSINESS definition: 1. the activity of buying and selling goods and services: 2. a particular company that buys and….
VENTURE | English meaning - Cambridge Dictionary
VENTURE definition: 1. a new activity, usually in business, that involves risk or uncertainty: 2. to risk going….
ENTERPRISE | English meaning - Cambridge Dictionary
ENTERPRISE definition: 1. an organization, especially a business, or a difficult and important plan, especially one that….
INCUMBENT | English meaning - Cambridge Dictionary
INCUMBENT definition: 1. officially having the named position: 2. to be necessary for someone: 3. the person who has or….
AD HOC | English meaning - Cambridge Dictionary
AD HOC definition: 1. made or happening only for a particular purpose or need, not planned before it happens: 2. made….
