Predictive Analytics

Using Technology to Grow Relationship Value in Insurance

In February, we published a blog post on “Using Technology to Add Value in Insurance.” In that post, I referenced Matt Josefowticz’s recent article – Technology May be the Answer for Insurers, but What Was the Question?, in which he argues that there are only three levers of value in insurance: 1. Sell More 2. Manage Risk Better (aka […]

What is an Acceptable Analytic Failure?

Many speakers on predictive analytics, machine learning (ML) and AI talk about the need to allow data science teams to fail. Without failure, without a willingness to fail sometimes, it’s very hard to build a successful data science program. This is true and often a barrier for companies that find it hard to accept that not all analytics initiatives succeed.

Tips for Successful Data Science Implementation in Insurance

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in  3 challenges facing insurers in data science implementation. These three challenges – getting business buy in, attracting talent, and strategic alignment are exactly […]

Using Technology to Add Value in Insurance

Matt Josefowticz wrote a great piece recently – Technology May be the Answer for Insurers, but What Was the Question? In this he argues that there are only three levers of value in insurance: 1. Sell More 2. Manage Risk Better (aka underwriting and adjusting) 3. Cost Less to Operate And that while some of these will […]

Five Reasons to Fire Your Rules Consultant

We do a lot of decision management projects, helping clients adopt the technologies and approaches they need to succeed with digital decisioning and decision automation. One of the key technologies for these types of projects is a Business Rules Management System (BRMS). Sometimes, we get push-back on using business rules because existing business rules projects […]

International Institute for Analytics 2019 Predictions – Some Thoughts

Several of this year’s International Institute for Analytics predictions point towards a DecisionsFirst decision management approach.

DecisionsFirst Analytics in Forbes

Joe Decosmo, CAO of Enova Decisions and someone we know from our work at the International Institute for Analytics wrote a nice piece in Forbes today – Why You Should Take A Decision-First Approach To Analytics. Joe makes some great points in his post and leads off with a shout out to the Decision Management Manifesto. Like […]

Personalizing Insurance Marketing with Decision Management

A key way for insurers to respond to disruption in the insurance market is to more effectively personalize their marketing. Targeting prospects and especially customers with unique, personalized messages is a way for traditional carriers to be “disruptive”. Indeed there are those who see personalization—reaching customers with targeted messaging, offers, and pricing at just the […]

Delivering the Business Value of Analytics

Learn three critical success factors in delivering business value from your advanced analytics investments. Many organizations still struggle to get a business return on their investment on advanced analytics. The biggest barrier? An inability to integrate analytics, especially predictive analytics, into frontline systems and business processes. Work with a number of global companies has revealed […]

Adopt Decision Modeling for DecisionsFirst Analytic Success

Add decision modeling and a DecisionsFirst approach to analytics to this established AI Solution Decomposition Process to make it more effective.