Written by Sumit Sethi, Guest Blogger on 12 October 2017
Altus Consultant, Sumit Sethi (middle) sat on a panel at the TIBCO breakfast seminar where there were discussions around the opportunities being created by Artificial Intelligence and Machine Learning and how insurers can become more agile in the face of new innovations and disruptive technologies.
- Insurer legacy datasets combined with Data Scientists not typically coming from within the Insurance Industry has meant that 80% of time is being inefficiently directed towards data preparation rather than analysis
- Data Scientists have the technical skills needed by Insurers to exploit AI but they are a scarce commodity
- A hybrid approach of hiring Data Scientists with a view to training internal staff is the only sustainable option for Insurers
- Black Box Applications are limited in their offering as they provide little differentiation for Insurers over competitors
- Adoption of AI technologies in the Insurance Value Chain can bring about competitive advantage and operational efficiencies for Insurers
- Early AI deliveries have been focussed towards risk selection and pricing but investment on achieving operational efficiencies is where Insurers can win big
Altus helps Headlight make Christmas brighter for mental health patients
Written by Altus on 17 January 2019
Altus has raised £480 for the Headlight Mental Health Charity.
API your business
Written by Michael James on 2 January 2019
APIs are high on digital agendas right now and the case for them can be compelling, especially if you want to expand your distribution channels and leverage capability across a broad and varied IT estate.