Topic "Financial Services – Insurance"

The Role of Data in Digital Transformation in Insurance

Digital Transformation has become a major agenda item for many Insurance institutions. In a recent blog, I looked at Digital Transformation for Retail Banking (link here). In this blog, I wanted to explore what I see happening in the world of Insurance and the role that data plays in this industry. My view has been... more

Are Insurance Companies in Danger of Digital Disruption?

A major analyst firm that will go unnamed thinks so. According their research, digital disruption is one of the most important factors impacting the insurance industry today. Making matters worse this firm’s industry assessment shows that only a small fraction of insurance companies are what it classifies as digitally leaders. If there is good news,... more

The Insurance Industry’s Massive Data Challenge: Two Case Studies from Brazil’s SulAmerica and France’s MACIF Group

With seven million customers, SulAmerica Seguros is the largest independent insurance company in Brazil, offering a suite of financial offerings ranging from health, dental and life insurance to products for retirement and asset management. But as José Guilherme, SulAmerica’s Business Intelligence Manager explained at Informatica World 2016 in San Francisco, without a customer-centric view of... more

Financial Services will be “BIG” at Informatica World 2016

Like most industries, the financial services industry is all about those zeros and ones. Every credit card transaction, mobile payment, brokerage order, mortgage approval, and interaction between client and advisor generates a tremendous amount of data. Data that has to be trusted, secure, timely, and share across the enterprise whenever and wherever the business needs it... more

10 Digital Footprints with Value to Insurance

What are Digital Footprints? Digital Footprints are the electronic recording of an event, activity or state that captures the fact that something happened at a specific point in time. Having said that, I’ve always found the best way of understanding what Digital Footprints are, is to use an analogy. Consider you’re wandering along a sandy... more

Sources of Data for Building a Customer360

In this blog we’ll look at the different sources of data available to build a Customer360 solution. The move from being Policy centric to Customer centric is being undertaken by most Insurance companies and often forms part of Omni-Channel, Customer Centricity or Digital Transformation programmes. The goal of constructing and operating a Customer360 isn’t an easy one... more

Combating Healthcare Insurance Fraud with Great Data

The Washington Post reported this month that government officials arrested 243 medical insurance fraudsters who stole $712 million in false billings to Medicare in the largest crackdown on healthcare fraud ever. Insurance claims fraud continues to burden the pocketbooks of the average consumer in today’s healthcare industry. According to a study by CIC insurance on... more