Big Data, Big Insight – Is Knowledge Still Power in a Digital World?
This article explores the validity of claims that theory has lost its practical purpose in a world where the abundance, and easy availability, of data is purported to provide sufficient guidance to our actions. In a future Risk Insights article we will consider the possible consequences for the life insurance industry with a particular eye on the future role of human expert knowledge
Capturing the Millennial Middle Market with Smart Analytics
By integrating data and advanced analytics into their processes, life insurers can capture one or more lucrative niches, including millennials in the middle market, before the competition does.
New Report Finds Health Wearable Devices Pose New Consumer and Privacy Risks
Personal health wearable devices used to monitor heart rates, sleep patterns, calories, and even stress levels raise new privacy and security risks, according to a report released today by researchers at American University and the Center for Digital Democracy.
The Revolution in Impaired Risk Underwriting
Insurers have developed mathematical algorithms to determine where they can speed up the underwriting process
LexisNexis Shifts Life Insurance Underwriting into High Gear
Company is betting that data analytics will prove transformative to the market.
Accelerated Underwriting Opportunities: New Data Sources, Technology Improve Process
Opportunities for point of sale underwriting are increasing as new data sources become available and processing techniques are developed. Risk scores are being analyzed by SCOR’s R&D Center for impacts to underwriting and mortality assessment.
From Insurance to Surveillance: Experts Debate Privacy in the Age of Big Data
Big Data is scary. That's the one thing that four people from very different professions agreed on during a panel at a Kenyon College political-science conference about technology's impact on privacy in the 21st century.
Infographic: How Life Insurers are Using or Plan to use Big Data and Predictive Analytics
Life insurers in North America are preparing for a dramatic shift in their use of big data and predictive analytics, according to a Willis Towers Watson survey. While many are just getting started, life insurers expect their use of big data and predictive analytics for decision making to soar dramatically within the next two years.
The Power of Big Data (LOMA Resource)
The world is moving much faster today than it did just 20 or 30 years ago and consumers demand speed and convenience in all aspects of life. Consequently, life insurers are stepping up to the challenge and are seeking new ways to provide faster, more convenient customer service throughout all segments of the policy lifecycle. And they are finding that Big Data can be an effective, economical solution that can help them achieve this goal.
Life Operations: 5 New Rules of the Road
Life and annuity insurance companies are seeking any and all means to improve business performance in a time of rapid change. Advancements in data and analytics promise to deliver significant improvements in the speed and reliability of decision-making and offer insurers a competitive advantage.