The Analytic Insurer

Life insurance and analytics – the rewards are high, but it’s not gambling.

Stuart Rose — Fri, 17 Feb 2012 14:14:09 +0000

Is it considered gambling if you put your money on a certainty? I recently read a survey that found that only 44% of US households have an individual life insurance policy. I found this statistic incredibly surprising. Yes, life insurance is a discretionary product and in difficult economic conditions is often [...]

Disruption in Insurance – Emerging technologies are breaking the status quo

Stuart Rose — Thu, 02 Feb 2012 15:28:48 +0000

Last week I was fortunate enough to attend one of my favorite events. Celent’s annual Insurance Innovation and Insight Day, which this year took place in Boston. The general theme of this year’s event was disruption. How emerging insurance technologies are fostering creative disruption in the tranquil world of insurance. [...]

Winning the insurance fraud race

Stuart Rose — Thu, 19 Jan 2012 15:43:59 +0000

Insurance fraud has no doubt existed wherever insurance policies are written, taking different forms to suit the economic times. In early maritime insurance it became a common scam for boat owners to hide the boat in a foreign port and collect the insurance money. In the 19th century came the [...]

Transforming insurance fraud detection

James Ruotolo — Thu, 05 Jan 2012 14:38:16 +0000

2011 was a busy year in the insurance fraud detection business. As industry groups like the National Insurance Crime Bureau reported that fraud was increasing at a dizzying rate, I met with dozens of insurers across the world to discuss their fraud detection and investigation case management challenges. What I [...]

How insurance changed the world?

Stuart Rose — Thu, 05 Jan 2012 14:24:11 +0000

Happy New Year. As we begin 2012 there is already a lot of talk, maybe too much talk, about the American Presidential elections. Unfortunately this is something you could blame on insurance. Because without insurance there would be no democracy! A stunning statement, but let me explain. There is a [...]

Reasons to be cheerful – 2011 in review

Stuart Rose — Mon, 05 Dec 2011 14:48:43 +0000

As we begin December it tends to be customary to look back on the year and not being one to break with tradition today’s column will review SAS and analytics from an insurance perspective and the annus mirabilis that was 2011. As SAS kicked off 2011 with record revenue for [...]

Optimizing Claims – A win-win for insurers and customers.

Stuart Rose — Mon, 21 Nov 2011 18:18:46 +0000

Of all the processes inherent to insurance, it could be argued that none are more important than the claims process. I was reminded of this by two recent conversations I had with customers and colleagues. The claims process is typically time-consuming and labor-intensive, involving multiple systems, outdated technology and distributed [...]

Let’s work together – How organizations can benefit from sharing knowledge

Stuart Rose — Wed, 02 Nov 2011 18:01:22 +0000

Last week I was fortunate enough to attend one of my favorite events the Premier Business Leadership Series in Orlando. This conference brings together thought leaders and business executives from a variety of different industries to talk and learn about leadership and how analytics is helping empower organizations across the [...]

Protectors of customers: Insurers tackle thorny issues in the fight against fraud

Rachel Alt-Simmons — Tue, 01 Nov 2011 13:31:32 +0000

At last week’s Premier Business Leadership Series conference in Orlando (which, by the way, was sunny and warm – unlike the snow I returned to in Connecticut) three insurance thought leaders gave a presentation innocuously titled “The Latest Advances in Fraud Detection and Prevention for Insurance.” Now, for the non-insurance [...]

Just can’t get enough – How reinsurers can maximize the paucity of data

Stuart Rose — Tue, 18 Oct 2011 15:25:09 +0000

Insurance is a tough marketplace, but in many respects reinsurance is tougher! Today, the reinsurance industry is faced with an unprecedented number of challenges especially with what appears to be an increasing frequency and severity of man-made and natural catastrophes. It is a maxim that “data is the lifeblood for [...]