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Analytics for Insurance

Analytics for Insurance

          
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About the Book

Big Data and Analytics for Insurers is the industry-specific guide to creating operational effectiveness, managing risk, improving financials and retaining customers. Written from a non-IT perspective, this book focusses less on the architecture and technical details, instead providing practical guidance on translating analytics into target delivery. The discussion examines implementation, interpretation and application to show you what Big Data can do for your business, with insights and examples targeted specifically to the insurance industry. Special Features ·Understand what Big Data is and what it can do ·Delve into Big Data's specific impact on the insurance industry ·Learn how advanced analytics can revolutionise the industry ·Bring Big Data out of IT and into strategy, management, marketing and more Table of Content Preface Acknowledgements About the Author Chapter 1 Introduction -- The New Real Business' 1.1 On the Point of Transformation 1.2 Big Data and Analytics for All Insurers 1.3 How Do Analytics Actually Work? Chapter 2 Analytics and the Office of Finance 2.1 The Challenges of Finance 2.2 Performance Management and Integrated Decision-making 2.3 Finance and Insurance 2.4 Reporting and Regulatory Disclosure 2.5 GAAP and IFRS 2.6 Mergers, Acquisitions and Divestments 2.7 Transparency, Misrepresentation, The Securities Act and SOX' 2.8 Social Media and Financial Analytics 2.9 Sales Management and Distribution Channels Chapter 3 Managing Financial Risk across the Insurance Enterprise 3.1 Solvency II 3.2 Solvency II, Cloud Computing and Shared Services 3.3 Sweating the Assets' 3.4 Solvency II and IFRS 3.5 The Changing Role of the CRO 3.6 CRO as the Customer Advocate 3.7 Analytics and the Challenge of Unpredictability 3.8 The Importance of Reinsurance 3.9 Risk Adjusted Decision-Making Chapter 4 Underwriting 4.1 Underwriting and Big Data 4.2 Underwriting for Specialist Lines 4.3 Telematics and User-Based Insurance as an Underwriting Tool 4.4 Underwriting for Fraud Avoidance 4.5 Analytics and Building Information Management (BIM) Chapter 5 Claims and the Moment of Truth' 5.1 Indemnity' and the Contractual Entitlement 5.2 Claims Fraud 5.3 Property Repairs and Supply Chain Management 5.4 Auto Repairs 5.5 Transforming the Handling of Complex Domestic Claims 5.6 Levels of Inspection 5.7 Motor Assessing and Loss Adjusting Chapter 6 Analytics and Marketing 6.1 Customer Acquisition and Retention 6.2 Social Media Analytics 6.3 Demography and How Population Matters 6.4 Segmentation 6.5 Promotion Strategy 6.6 Branding and Pricing 6.7 Pricing Optimization 6.8 The Impact of Service Delivery on Marketing Success 6.9 Agile Development of New Products 6.10 The Challenge of ‘Agility' 6.11 Agile vs Greater Risk? 6.12 The Digital Customer, Multi- and Omni-Channel 6.13 The Importance of the Claims Service in Marketing Chapter 7 Property Insurance 7.1 Flood 7.2 Fire 7.3 Subsidence 7.4 Hail 7.5 Hurricane 7.5.1 Prediction of Hurricane Damage 7.7 Claims Process and the ˜Digital Customer' Chapter 8 Liability Insurance and Analytics 8.1 Employers' Liability and Workers Compensation 8.2 Public Liability 8.3 Product Liability 8.4 Directors and Officers Liability Chapter 9 Life and Pensions 9.1 How Life Insurance Differs from General Insurance 9.2 Basis of Life Insurance 9.3 Issues of Mortality 9.4 The Role of Big Data in Mortality Rates 9.5 Purchasing Life Insurance in a Volatile Economy 9.6 How Life Insurers Can Engage with the Young 9.7 Life and Pensions for the Older Demographic 9.8 Life and Pension Benefits in the Digital Era 9.9 Life Insurance and Bancassurers Chapter 10 The Importance of Location 10.1 Location Analytics 10.2 Telematics and User-Based Insurance (‘UBI') Chapter 11 Analytics and Insurance People 11.1 Talent Management 11.2 Talent, Employment and the Future of Insurance 11.3 Learning and Knowledge Transfer 11.4 Leadership and


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Product Details
  • ISBN-13: 9788126564651
  • Publisher: Wiley
  • Binding: Hardcover
  • Language: English
  • Weight: 762.03 gr
  • ISBN-10: 8126564652
  • Publisher Date: 2016
  • Height: 20.066 mm
  • No of Pages: 296
  • Width: 190 mm

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