Date & Location

Wednesday, May 15, 2013

The Ritz-Carlton, Boston Common
10 Avery Street,
Boston, MA 02111

Making the Right Investments in Big Data and Analytics”

Insurance companies are data rich and poor in deriving valuable insights. They recognize the value of drawing on that data as a strategic asset. But, despite the buzz around Big Data and its benefits, many insurers are stymied by the challenges related to tapping into that data. However, Big Data offers insurers huge opportunities to improve efficiency, profitability and customer satisfaction in critical areas such as claims, underwriting and fraud detection via an effective Big Data strategy. The ability to actually capture, analyze and gain insights from Big Data increasingly will be key to growth and compliance. Furthermore, according to Novarica, while the use of analytics is widespread for actuarial and pricing, relatively few insurers are using analytics to improve operational areas such as sales, marketing or optimized work assignments for agents, underwriters, or claims adjusters.

In order to both harness (deploying the technology required to manage Big Data) and harvest (the technology required to analyze and derive insights) Big Data, insurers will need to modernize their technical infrastructures, but they must also prepare good use cases and apply the appropriate business metrics.

Join Insurance & Technology and Tata Consultancy Services at this senior-level Executive Roundtable event to find out what it takes to create a Big Data “center of excellence.” Hear real-world use cases about how leading insurers are adopting outcome-based Big Data frameworks that ensure linkage to enabled actions, actionable insight and data, and learn how a portfolio approach can help companies optimize the tools, types and mix of analytic applications that deliver actionable insights for competitive advantage, including:

  • Reducing claims frequency, severity and handling costs while improving customer satisfaction.
  • Improving underwriting by broadening the base of data to boost analytic precision.
  • Better fraud mitigation and risk management that reduces loss and expense while accelerating straight-through processing.
  • Creating more opportunities for investment managers through improved cash flow.
  • Combining new product innovation with more-effective sales/marketing efforts to enhance customer relationships, increase share of wallet and boost revenues and profits.

Agenda

5:00 PM
Registration and Networking
5:30 PM
Welcome & Introductions: Insurance & Technology
5:45 PM
Industry Overview: Tata Consultancy Services
6:00 PM
Analyst Presentation: Assessing Insurance Industry Big Data Strategies
6:30 PM
Roundtable Discussion
7:15 PM
Closing Remarks
7:30 PM
Networking Cocktail Reception

Featured Speaker:

Nathan Golia
Associate Editor,
Insurance & Technology

Matthew Josefowicz
Managing Director,
Novarica

Ajay Bhargava
Director, Analytics & Big Data,
TCS


Produced by: