The 2015 guide to IBM Insight for insurance professionals
The world is transforming, IBM is transforming and IBM Insight is transforming. When the IBM Information on Demand Conference debuted, it was designed for professionals in the data, business intelligence and analytics fields. Then, as big data and analytics became central themes of its story, IBM renamed the conference IBM Insight. At Insight 2015, you’ll see another major transformation as many stories center on industry-specific themes—a natural change considering that businesses reside predominately in a specific industry, each having best practices, jargon and special considerations.
To help guide insurance professionals through this latest transformation of IBM Insight, I have compiled a summary of the sessions that will be of greatest interest for insurance professionals. For example, the insurance industry is enjoying unprecedented opportunities thanks to the emergence of telematics, an exciting incarnation of the Internet of Things (IoT). Other trending areas of interest for insurance include insights gained from weather events and value gained by alerting policyholders to impending adverse weather events, as well as advancements in the predictive customer insights that insurers can leverage to drive retention. At IBM Insight, discover what you can learn about trends and solutions in the insurance industry.
Insurance and the Internet of Things
- “Leave No Problem Unsolved—Transform Your Industry” (Session 4022)
During the conference general session, David Kenny, the chairman and CEO of The Weather Company, will detail his experience partnering with IBM, describing how it has helped him take new approaches to data, including by using sensory and mobile technologies.
- “Innovation for Insurers Driven by the Internet of Things and The Weather Company” (Session 2151)
Learn about IoT trends, including the connected car and the connected lifestyle, as well as the role weather plays not only in risk assessment, but also in customer retention and experience.
- “IBM and the Internet of Things Are Changing the Way Insurers Do Business” (Session 4173)
From incorporating driver behavior into your telematics strategy to alerting customers about developing weather risks, IBM quickly and cost-effectively helps insurers connect their data with the Internet of Things.
Insurance customer insight
- “Insurers Partner with IBM on the Introduction of New Industry Solutions” (Session 2572)
Listen to IBM and IBM’s insurance partners announce their latest insurance analytics solutions, including Behavior Based Customer Insight.
- “SunCorp Ensures Better Customer Relationships with Predictive Customer Insights” (Session 3007)
Learn how Suncorp Group, one of Australia's leading insurance companies, has brought analytics to customer-related functions, including acquisition, retention, growth and claims handling.
Insurance customer stories
- “Customer Centric Driven Transformation at Breca Holdings (RIMAC Insurance)” (Session 3626)
Learn how RIMAC Seguros, the foremost insurer in Peru, handles health claims in a paperless front office, conducting real-time risk scoring and fraud analytics on every claim, as well as how it set up a special investigative unit and leveraged Watson across the enterprise.
- “Combatting Automobile Claims Fraud” (Session 2296)
Discover current fraud detection and prevention projects that are using analytics to avoid false positives, accelerate identification and case escalation, automate investigation workflow and boost the overall operational effectiveness of the insurance special investigative unit.
- “Great American Insurance Innovates with Streamlining Content and Processes” (Session 2334)
When disparate enterprise content management (ECM) solutions for underwriting, claims and supporting groups made gathering a holistic view of policyholder content a cumbersome undertaking, Great American Insurance Group introduced an advanced case management solution to help teams work together quickly and productively.
The big data and analytics journey for Insurance
- “CNA—Next Generation Big Data and Analytics Platform for Delivering Business Value” (Session 1961)
Hear how CNA overcame two major challenges to create a common big data analytics environment that can efficiently leverage resources and best practices across all business functions:
- Modernizing a legacy environment to enable specialized analytic tools to work efficiently
- Creating an information hub to facilitate collection and preparation of data from multiple business groups within the company
- “MetLife Delivers Business Value with a Data Strategy” (Session 3648)
Advanced data analytics, predictive modeling and big data are all components of an overall data and analytics capability. Discover why realizing the full potential of data science requires a business strategy and operating model that establishes core competencies through a cohesive execution strategy.
- Network and socialize with your peers in the insurance industry while watching demonstrations of IBM insurance solutions and offerings. Join us for a networking event Monday, 26 October, from 3:30 PM to 5:00 PM, in IBM Meeting Center, Bayside E and again on Wednesday, 28 October, from 2:30 PM to 4:00 PM, at the IBM Meeting Center, in Shorelines B, Room 4.
Don’t miss even one of the sessions I’ve described. Use IBM Event Connect to search for sessions by topic, speaker, session type, industry, day, time or keyword, then customize your own Insight agenda. After you finalize your Insight schedule, learn more about the variety of insurance solutions that analytics can power. I look forward to seeing you at Insight!