Insurance Analytics Masterclass

Description

Insurance has greatly evolved in the last several years. The first half of this decade signaled the start of major disruption in insurance, and the global entry of several innovative forces with the potential to dramatically change its future. Insurers are challenged by the rise of "insurtechs" and a structural transformation of their customer base, forcing them to adopt to new technologies more quickly. 

Increased modularity in the insurance value chain is enabling new combinations of players and threatening the position of incumbents. Usage‐based, on‐demand and object‐specific insurance products are emerging in response to shifting customer lifestyles. Life insurers for instance face pressure to reinvent their product strategies to meet the needs of their next generation of customers. The development of products to ensure emerging risks is becoming critical to carrier profitability, particularly as margins in traditional products erode. Increased modularity in the insurance value chain is enabling new combinations of players and threatening the position of incumbents. 

Insurers have enormous amounts of data, but to fully capitalize on it they must be well prepared to accommodate traditional and nontraditional sources, become data consumers, and have the right analytical tools to make the data meaningful. They must reduce the time between action and insight and extend analytics everywhere throughout the organization. 

But the nature of insurance data is also changing. The volume, variety and velocity of data available to insurance companies are increasing rapidly along with the ability to evaluate its veracity. In addition to internal sources of traditional, structured data, insurance companies are collecting real-time weather feeds, geospatial data, public records, social media posts, call-center recordings, emails and their attachments, and streaming data captured by devices and sensors that make up the Internet of Things. This unstructured data, in conjunction with analytics, puts insight into perspective and provides context for the findings so you can act confidently on the results. How can insurers take advantage of all these data sources to gain fresh insight in real time or near-real time?

This 3-day Insurance Analytics Masterclass is designed to equip Insurance professionals to make data-driven decisions to successfully transform their organizations into Intelligent Enterprise, bringing efficiency and accuracy with data analytics and new technologies.