Technology Archives - Page 4 of 4

How Artificial Intelligence is Transforming Insurance

Advanced artificial intelligence (AI) algorithms and machine learning (ML) have the power to revolutionize almost the insurance industry. Today, AI can handle mathematical, logical, or repeatable operations, with companies taking more advantage of the fact that AI and ML can take over the day-to-day mundane processing tasks to streamline operations. Machine learning (ML) and artificial […]

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The Emergence of Machine Learning and AI in Insurance

Insurance, Technology / Damon Overboe

Artificial intelligence (AI) and Machine Learning (ML) are transforming the insurance industry in a number of ways. Artificial intelligence and machine learning are two very hot buzzwords right now in insurance, and often seem to be used interchangeably. However, they are not quite the same thing, so we are going to help cut through the

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Blockchain Technology on the Rise

Insurance, Technology / Damon Overboe

Blockchain technology is a growing trend in the insurance industry for 2018 and is slated to gain even more traction in 2019 and beyond. It promises to improve operational efficiency throughout the value chain, enhance operational transparency and ensure seamless data transfer between all involved stakeholders. Blockchain-based technological solutions have the potential to make the

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Beneficial Impact of Tech Adaptation in the Insurance Industry

Insurance, Technology / Damon Overboe

The tech-driven adaptation of underlying business models continues at pace to disrupt the insurance industry. This is leading to ongoing changes in the distribution segment of the industry, but more excitingly, movements are happening in fundamental spaces like personalization, underwriting, and claims management. Personalization The same data that allows the insurer to move toward an

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Why Test? Understand the Benefits of Automated Regression Testing

Insurance, Technology / Damon Overboe

Test automation can bring many benefits to your testing cycles, allowing you to build better solutions with less effort. Regression testing is a type of software testing used to determine whether new problems are the result of software changes. Automated testing is also less time consuming. Sadly, there are still many companies that run only

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Exploring The Insurance Space

Insurance, Technology / Damon Overboe

What should companies wanting to enter the space think about? Be mindful of the trade-offs you face when originating transactions, especially the trade-off between “customer servicing” and owning the end customer. Will it be valuable enough for you to bear the cost of servicing a customer regularly if you can own the relationship, or are

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Understanding the Recent Insurance Hype

Technology / Damon Overboe

Why is insurance so interesting? Well, for one thing, it’s an enormous market, and an old one. The $1.1 trillion in insurance premiums recorded in 2013 by the U.S. Department of Treasury represented approximately 7 percent of the U.S. GDP. And, as everyone is fond of pointing out, it’s an industry dominated by very old

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Top 5 Insurance Trends

Technology / Damon Overboe

What’s to come next? The insurance industry has never been much of a leader when it comes to technology. But finally — after decades of working with clunky workflows, outdated software, and lots of paper — many insurance companies are starting to get a taste of the tech bug. Whatever the case, there’s finally forward