Why Location Matters in Insurance - Business Analytics · Why Location Matters in Insurance -...
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Esri EMEAUC13 Why Location Matters in Insurance - Business Analytics Location has intrinsically been a part of insurance since the beginning - at Lloyd's Coffee Shop one of the first questions would be "so, where are you headed?" The World has changed dramatically since then and the business of insurance has needed to keep up. However, it's only been recently that insurance companies of all types have begun to recognize the enriched technical capabilities associated with the integration of business analytics - business intelligence, predictive analytics and catastrophe modeling with GIS / spatial analytics. Spatially enabled decision management is improving the financial performance, product profitability and risk management for insurance companies while allowing them to provide more personalized offerings and services. In this session GIS specialists and financial services firms will learn the business value propositions as well as the business/technical enablers for a set of biunique offerings made available through the powerful partnership between Esri and IBM with a specific case study. Craig Bedell, IBM [email protected]
Transcript of Why Location Matters in Insurance - Business Analytics · Why Location Matters in Insurance -...
Esri EMEAUC13
Why Location Matters in Insurance - Business Analytics Location has intrinsically been a part of insurance since the beginning - at Lloyd's Coffee Shop one of the first questions would be "so, where are you headed?" The World has changed dramatically since then and the business of insurance has needed to keep up. However, it's only been recently that insurance companies of all types have begun to recognize the enriched technical capabilities associated with the integration of business analytics - business intelligence, predictive analytics and catastrophe modeling with GIS / spatial analytics. Spatially enabled decision management is improving the financial performance, product profitability and risk management for insurance companies while allowing them to provide more personalized offerings and services. In this session GIS specialists and financial services firms will learn the business value propositions as well as the business/technical enablers for a set of biunique offerings made available through the powerful partnership between Esri and IBM with a specific case study. Craig Bedell, IBM [email protected]
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2013 Esri Europe, Middle East and Africa User Conference October 23-25, 2013 | Munich, Germany
Why Location Matters in Insurance - Business Analytics
Enriched by Spatial
Craig Bedell Worldwide Insurance Industry Executive
Business Analytics & Software Solutions Group
Esri EMEAUC13
Why Location Matters - Insurance
Underwriting Rating Claims Sales Marketing Distribution
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Traditional Uses of Spatial Analytics
Proximity to Risk Catastrophe Analyses Aggregation of Risk Setting Premiums Sales & Marketing Areas Claims Adjustment
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IBM Business Analytics
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Insurance Imperatives
Customer
Operations
Finance
Risk
Financial Performance ManagementPlanning, Budgeting and Forecasting
Disclosure Management Workflow Assembly and Audit of complex reports Disclosure Management
Advanced Analytics Data Collection Statistics Modeler (Data Mining/Text Analytics
Business Intelligence Analysis, Scorecards, Reports, Dashboards
Business Intelligence & Advanced Analytics Sales Performance Management
Territory, Channel and Incentive compensation management Quota Planning
Financial Risk modeling Market Risk, Credit Risk, and Portfolio Risk Balance Sheet and Capital Modeling Stress Testing
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Business Analytics
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with confidence at the point of impact to optimize outcomes
see, predict and shape business outcomes
your organization around information
from solutions that get smarter with every outcome
Learn
Align Anticipate Act
through analytics for breakaway results
Transform
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Why Business Intelligence Matters
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Why Predictive Analyitcs Matters
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Why Spatial Analytics Matters
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Why Decision Management Matters
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Predicted Claims
Esri EMEAUC13 http://www.esri.com/software/location-analytics/esri-maps-for-ibm-cognos
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http://www.esri.com/software/esri-maps-for-ibm-cognos
Bi-Directional Integration • Business Intelligence
• Spatial Analytics
Claims Optimization Fraud Territory Performance Agency Optimization Concentration of Risk Rating Territories CAT Analysis Disaster Response
Esri Maps for IBM Cognos®
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ESRI Maps for IBM Cognos
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Insurance Analyses
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Modern Application of Business Analytics & Spatial
Fraud & Abuse Operational Risk Management Market Availability Advanced Customer Segmentation Agency Performance
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Drive Time & Predictive Modeling
Claims Fraud
Predictive determinant – Drive time to Treatment Facility Vs Drive time to Doctor
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Drive Time & Business Intelligence
Claims Fraud
Paring of post hail storm event with Policy Records, Repair Services & Claimants
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Insurance Agency Productivity & Prospecting
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Managing existing agents
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External validation
http://www.analytics-magazine.org/component/content/article/130-analytics-section-of-informs-news/792-innovative-applications-in-analytics-award
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Business Analytics As a Business Capability
Esri EMEAUC13 www.analyticszone.com
Esri EMEAUC13 www.analyticszone.com
Esri EMEAUC13 http://www.ibm.com/software/analytics/insurance/
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https://www.youtube.com/watch?v=hLpuMZdAuG0&list=FL3etlX-M8CJIj5-ikSaqNMA
Westfield Insurance Company Business Analytics Transformation ttps:// ywww.youtube.c//
kSaqNMA
Westfield InsuraBusiness Analyt
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IBM Cognos Performance Management System – Business Modeling
Applications / Accelerators / Blueprints
Access & Interactivity
Universal Capabilities
Performance Management Platform
Information Infrastructure
Esri EMEAUC13
IBM Cognos Performance Management Platform
Exploit existing infrastructure choices Integrated & optimized with IBM infrastructure
Metadata
Content
Security
Services API
Content
Model
Admin
Upgrade
IT Tools Shared
Dimensions
Personal Datasets
Plan & Report Saved Objects
Query Service
Movement Service
Calculation Service
Presentation Service
Event Service
Streaming Service
Shared Set of Purpose-Built Services Security Service
Cognos 10 Bus – Dispatcher SOAP, XML
Scheduling Service
Attachments, Annotations
Data Integration & Data Quality Tools
Platforms & Databases
Security Providers & Firewalls
s s
Application & Web Servers
Cognos Architecture
User Experience
Infrastructure Fit
Universal Capabilities Access and Interactivity Business Modeling
Modern and Legacy Sources
Application Sources
OLAP Sources
Access to All Data
Message Sources
Relational Sources
Open Data Access
Common Business Model
Initiatives, Metrics
System Content Metadata, Events Search Index, Audit Logs, System Metrics
Optimized OLAP64-bit in-Memory High Performance Streaming Cache
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IBM Solution Components • Cognos • SPSS • WebSphere • IBM Implementation Services • Netezza, PureSystems • DB2
Esri Solution Components • ArcGIS® Server • ArcGIS Desktop • ArcGIS Online Data
Subscription and Collaboration Portal
• Esri Maps for IBM Cognos • Esri Implementation Services
ArcGIS Server
Agents, Customers
BI System Cognos
Business Dashboards Reports, Cognos Reports Esri Maps for IBM Cognos
Web-derived data, weather, social media, etc
Corporate Data
s, Cust
ver
mers
Web-dweathes
os
ArcGIS Setem s
d i d d tW b d
Location Analytics Modeling
Netezza
yCogno
ArcGIS Online Collaboration Portal
Architecture Overview
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Business analytics from IBM
•Business intelligence ( IBM Cognos10 BI) − Dashboards, Scorecards, Reports, Analysis, Ad-hoc, Alerts,
Mobile, Office, etc
• Financial performance management (IBM Cognos TM1) − Financial and operational planning, budgeting and forecasting
•Advanced analytics (IBM SPSS) − Predictive modeling, Data Mining, Decision Management,
Polling/Survey
• Sales performance management (IBM Cognos SPM) − Compensation Management, Quota Management, Territory
Management
•Risk and compliance (IBM Algorithmics / OpenPages) − Financial / Market and Operational Risk Mgmt – Solvency 2 /
RMORSA
