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Forget Big Data—Try Focusing on Small Data
In their rush to jump on the big data bandwagon, many organizations have lost sight of a much simpler yet effective source of customer insight: "small data." Big data is about synthesizing, mining ...
Where Have All the Chief Strategy Officers Gone?
At a time when the property/casualty insurance business is going through major changes, one would think that the ranks of chief strategy officers would be growing. That's not the case, says Tom ...
Your Brand Is Your Business—Protect It!
Few things are as hard to maintain or as easy or costly to lose as a good reputation. A look through the business section of your favorite tabloid often provides an example of how poorly managed ...
IT Outsourcing Trends and Best Practices
Outsourcing is an important part of the insurer's CIO toolkit, and its use is widespread. Spending on external services including outsourcing continues to consume an average of 20 percent of ...Is Insurance Experience Essential?
When choosing a service provider for outsourcing IT tasks, carriers may limit their list of potential candidates to those with experience in the insurance industry. How important is that? Novarica's ...
Insurers Welcome CDOs to the New C-Suite
Better late than never. Long lambasted as a technology laggard, the property/casualty insurance industry appears to be following the lead of other financial services companies like banks, accounting ...
Time to Go Virtual? Optimizing Property Inspection Programs With Digital Imagery
Before underwriting a new policy or renewing existing policies, carriers want to understand the risk associated with the property. Has the property been properly maintained or are there significant ...
Insurer Develops Analytics Tool to Avert Workers Comp Fraud at Onset of Claim
Nearly a quarter of small business owners have installed surveillance cameras to monitor employees and avert workers compensation fraud, according to a 2015 poll by Employers. But organized crime ...