article thumbnail

Using Data To Illuminate The Intentionally Opaque Insurance Industry

Data Engineering Podcast

Summary The insurance industry is notoriously opaque and hard to navigate. Your host is Tobias Macey and today I'm interviewing Max Cho about the wild world of insurance companies and the challenges of collecting quality data for this opaque industry Interview Introduction How did you get involved in the area of data management?

Insurance 162
article thumbnail

Retain Customers with Faster, Friendlier Claims: 4 Strategies for Insurers

Precisely

Key Takeaways: In the insurance industry, customer satisfaction has a direct impact on your bottom line. For insurers, this decline is a serious concern, especially in an industry where customer loyalty and retention are vital to profitability. Most customers don’t think about insurance until they file a claim. Power report.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

16 Ways Insurance Companies Can Use Data and AI

Snowflake

To learn more about insurance data trends, download the full ebook. With all the data at their fingertips, actuaries and data scientists are empowered to more rapidly model frequency, severity, loss cost, and enable insurance product managers to file new rates with regulators.

article thumbnail

How Modern Data Technologies Are Remaking the Art of Insurance Underwriting

Snowflake

The insurance industry has always been driven by data. Today, insurance underwriters are under the gun to use new data technologies to shift from hindsight-dependent to future-ready processes. These technologies are unproven and imply risk, but should we be concerned? Valued at a modest $5.45

article thumbnail

P&C Insurance: Optimize Your Onboarding Experience

Precisely

A new customer’s experience with your company might well have started with an independent agent or broker, but once the sale is complete, the insurance carrier is responsible for delivering a satisfactory onboarding experience. For companies struggling with legacy technology and disparate systems, that can be a challenge to deliver.

article thumbnail

Insurance Organizations Depend on the Quality of Their Data

Precisely

Insurance is an inherently data-driven industry. Insurance carriers have far more powerful tools at their disposal than in the past, enabling them to more accurately profile their customers, evaluate risk, and drive new business. Nearly a quarter rated their company’s performance as superior to that of other insurers.

article thumbnail

Revolutionizing Insurance: Optimize Your Claims Process to Drive Customer Satisfaction and Retention

Precisely

Key Takeaways: Insurers provide better customer experiences with claims processes that are simple, fast, empathetic, and deliver proactive communication throughout. For most people, insurance is a safety net that remains out of mind until it becomes necessary – typically when an incident occurs and they’re filing a claim.