InsurTech NY’s Post

📣 Attention Claims Leaders: Transform Your Outcomes with Data Mastery In the ever-changing insurance landscape, leveraging data insights is no longer optional – it's essential for success. Join industry experts like Darien Acosta (Cover Whale), Aaron Wheaton (Clearcover), and Sarika Gupta (EXL) as they reveal how to harness the power of data to: ⚡Uncover hidden insights to proactively manage and improve efficiency ⚡Predict claim outcomes to stay ahead of costs and fraud ⚡Optimize processes for a smoother and more customer-centric experience ⚡Build a truly data-driven claims team Ready to revolutionize your claims strategy? 🚀 Register now: https://lnkd.in/eQ_YFTHD #ClaimsInnovation #DataAnalytics #Insurtech #Webinar #CCUSA

I don't know any client or CEO who doesn't want to use data to power their decision making. Yet, the biggest challenge in #insuretech is collecting reliable and actionable data. 💲 Using data to power business decisions is key in the Insurance industry. According to McKinsey, firms can be up to 6 times more financially successful if they implement good data practices. So, how do you get good data? Examining how your data is collected, mapped and stored is critical to success. ⛈ However, you may be in the position where you are using an out-of-the-box product that provides little to no control over these core aspects of your data. ⭐ At UMELLE we build custom applications that allow #insurance #agencies to go-to-market quickly with affordable custom software solutions with a focus on keeping your data safe, relevant - and most importantly - yours.

Insurance professionals, data is at the heart of our industry. How do you leverage data in your decision-making processes? Whether it's for underwriting, claims management, or customer service, share your strategies and experiences with us. Your insights are invaluable. Join the conversation at https://www.edata.digital/ for more details. #InsurTech #DigitalStrategy #InsuranceInnovation #DigitalTransformation

🚀 In the fast-paced world of insurance, data is the key to success! Join us for an executive-level webinar featuring industry leaders who will reveal the strategies and technologies revolutionizing claims outcomes in 2024 and beyond. 🗓️ Date: Aug. 29th ⏰ Time: 11-12pm EDT 🔗 Register Now: https://lnkd.in/dz6ejjpH What you'll learn: Identify patterns: Uncover hidden trends in claims data to proactively address issues. Predict outcomes: Leverage predictive analytics to anticipate claim costs, duration, and potential fraud risks. Optimize claims processes: Implement data-driven strategies to streamline operations and enhance customer satisfaction. The Future of Claims Leadership: Hear from C-suite executives on building a data-driven claims organization. 💡 Speakers: Darien Acosta, Chief AI Officer, Cover Whale Aaron Wheaton, SVP Head of Claims, Clearcover Sarika Gupta, SVP & US Insurance Sales Head, EXL Dr. Claire C. Muselman, Principle, CM Advising Don't miss this opportunity to stay ahead of the curve and leverage data for unprecedented success in claims management! #Insurance #Claims #DataAnalytics #Webinar #CCUSA

Fragmented data is holding your insurance company back from achieving its goals. In the competitive insurance industry, data is a vital asset. Yet, many small and medium-sized insurers face challenges with data fragmentation, leading to inefficiencies and poor decision-making. A comprehensive data strategy can turn this around. Begin by: 1. Evaluating your current data landscape 2. Mapping data sources 3. Establishing strong governance frameworks This approach ensures data is standardized, integrated, and accessible, driving better business outcomes. How are you tackling data fragmentation? #data #insurance #insurtech #digitaltransformation #businessgrowth

Data accuracy and reliability aren’t just important—they're 𝐚𝐛𝐬𝐨𝐥𝐮𝐭𝐞𝐥𝐲 𝐜𝐫𝐮𝐜𝐢𝐚𝐥. Here's why:  1. Reliable data helps in assessing customer value accurately, fostering stronger relationships and higher retention rates.  2. With advanced analytics, you can make informed decisions swiftly, leading to better risk management and fraud detection.  3. Accurate data is key to compliance in the tightly regulated insurance sector, ensuring that companies meet all legal requirements without fail.  4. Automation powered by reliable data streamlines operations, reduces errors, and speeds up service delivery, enhancing overall customer satisfaction.  Leveraging reliable data through our sophisticated insurance solution drives competitiveness and paves the way for innovative practices in the insurance field. Embrace data accuracy, and watch your business thrive. #InsuranceTech #DataAnalytics #RiskManagement #BusinessIntelligence #InsuranceSolution

A quick shout out to my colleague Gareth Evans for being asked to participate in the Insurance Times "The Big Question" series. He's in good company, and shares some solid thoughts on the ways #AI can help insurers bridge the talent gap. #InsurTech #InsuranceDecisions #GenAI

🤔 Rethinking the “Fix” for Delegated Authority The current approach to enhancing the delegated channel seems to focus on "fixing" it with better data management or the elimination of bordereaux. However, this might be missing the broader opportunity to truly leverage this channel's potential. To stand out, there needs to be a clear, strategic vision encompassing the entire lifecycle of delegated authority management. Are we too focused on immediate fixes rather than developing a comprehensive strategy for delegated authority? How can we shift our focus to fully harness the growth and innovation potential within this channel? Read our latest blog here: https://loom.ly/3P7ryu0

3.8 billion people in emerging markets lack adequate insurance, and #data is key to closing this gap. In this working paper, we examine how data can be leveraged to empower insurers in understanding the unique needs and risk profiles of low-income segments, paving the way for more #InclusiveInsurance offerings. Discover the five ways that are enabling insurers and tech providers to extend their reach to those who need it most, including rural smallholder farmers and gig workers: ✅ Enhanced product design ✅ Improved pricing strategies ✅ Better customer acquisition & retention ✅ Enhanced customer experience ✅ Efficient claims & fraud detection Read more: https://cgap.pub/3wQq6z1 By Maria Fernandez-Vidal, Arisha Salman & Shilpi Shastri

Maintaining accurate data is essential for delivering trusted insights in the insurance industry. In this insightful article by Monalisa Samal, Xceedance Head of Data & Risk Analytics, published on PropertyCasualty360, she shares best practices for ensuring data quality. Discover how reliable data can empower better decision-making and support your business goals. Don’t miss this must-read for insurance professionals aiming to optimize their data strategies and drive digital transformation. Read the full article here: https://lnkd.in/ge9aMFaQ. #DataAnalytics #InsurTech #InsuranceData #DigitalTransformation