In this talk, Kali Buggery, CEO of The Data Company, emphasized the importance of data in driving business success.
The talk highlighted the exponential growth of data and how harnessing it strategically can lead to better decision-making, operational improvements, and future opportunities. The role of data integration, visualization, and modern technologies in achieving these goals was discussed. The talk also stressed the need for businesses to embrace AI to enhance data analytics and stay competitive. Finally, The Data Company presented a six-step process to guide organizations in their journey to artificial intelligence and effective data utilization.
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Navigating the Challenges of Data in the Insurance Industry
Paul Donnelly, Executive Vice President for EMEA at Fineos, discussed the complexities of data management in the insurance industry.
The underwriting process was highlighted as a critical point for data collection, especially in life and health insurance, where vast amounts of personal and sensitive data are collected. Meeting scale and sensitivity challenges while adhering to data protection regulations like GDPR was emphasized. Legacy systems were discussed as a barrier to meeting evolving expectations regarding data transparency and usage. The importance of responsible data management and innovation in data processing, using AI and machine learning, was emphasized as a key to success in the insurance industry.
Fineos’ role in addressing data-related challenges, providing specialized support to claimants, and ensuring responsible data usage was also presented.