machine learning

Email is a mixed blessing for commercial lines insurers: It’s a fast, convenient way to communicate with policyholders, but because of email’s freewheeling format, every message is different and standards are few.... Read More >
Insurance companies consume terabytes of information every day in the form of digital data. Valuable data is being provided by more and more sources, which quickly paint a reliable picture of a risk or a submitted claim and make it possible to filter out unwanted risks and fraudulent claims. State-of-the-art technology is required to process this influx of information and convert it into applicable knowledge and insights. ... Read More >
Can predictive analytics forecast if predictive analytics will transform the insurance industry?  If you were to ask someone ten years ago, you might have thought ‘yeah right.’... Read More >
Filmmakers and dystopian sci-fi novelists have long predicted a future where robots take control and humans are relegated to a servant class – or worse. This thought was in the back of my mind as I joined 20 Guidewire engineers and architects in an “Artificial Intelligence (AI)/Machine Learning (ML) Workshop” led by Amazon Web Services.... Read More >
Why can’t the insurance business be more like Netflix? Or Tripadvisor or Booking.com?... Read More >
How do you price a product when you do not know how much it costs to produce? This is a problem the insurance industry faces every day. While most industries know the cost of materials, labor, and profit margin to calculate the price of their products, insurance does not know the cost of the product when it is sold. The true cost of the product may not be known for many years once all the claims have been paid.... Read More >
Whether you are fixing the kitchen sink, doing yardwork or cooking a meal, it is often essential to have the right tools for the right job. The same applies when it comes to predictive analytics. Solutions for business intelligence, data visualization, and reporting are very different to those for predictive analytics. It’s even important to use the right predictive analytics software, especially when it comes to analyzing insurance data.... Read More >