{"id":4482,"date":"2019-04-01T10:00:21","date_gmt":"2019-04-01T14:00:21","guid":{"rendered":"https:\/\/solutionsreview.com\/business-intelligence\/?p=4482"},"modified":"2019-04-02T14:20:18","modified_gmt":"2019-04-02T18:20:18","slug":"insurers-are-flocking-toward-advanced-analytics-heres-why","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/","title":{"rendered":"Insurers Are Flocking Toward Advanced Analytics, Here’s Why"},"content":{"rendered":"

\"Insurers<\/p>\n

According to new research<\/a> from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics. The study, which surveys insurer use, strategies and plans for anti-fraud technology, notes that an increase in fraud (up 11 percent since 2014) is the driver behind the adoption. Insurers are relying less on traditional fraud technologies like business rules and red flags, and in favor of predictive modeling, link analysis and exception reporting. The study also tells us that insurers are beginning to look into artificial intelligence as well.<\/p>\n

\t\t\t

\"Download<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div>\n

The every-other-year study, which polled 84 insurers, found that data from public sources is continuing to grow in importance for them. As a result, 43 percent of respondents have planned investment in social media analysis (compared to just 16 percent in 2016). At the same time, 64 percent of those polled say they will allocate additional funds for predictive tools in the near future, a 45-point increase from the most recent study. One in five also plan to further invest in AI in the next one-to-two years.<\/p>\n

The insurance industry’s expansion into predictive analytics does create some pain points, most notably with data integration<\/a>. Insurers are collecting more data from a variety of sources than ever before, and now have the power of data analysis on their side, but incorporating all the data into a place where it can be easily accessed is a struggle. The survey also highlights data integration as a cause for high levels of false positives, which can bring about an entirely different basket of issues. Perhaps augmented data management<\/a> is the next move for insurers.<\/p>\n

One of the more interesting tidbits from the poll was that the use of data analytics tools is changing the way insurers view fraud. Now, since the data can tell them where to focus their anti-fraud efforts, these organizations are beginning to investigate high-profile events with greater aggression. Insurers can also use the data to tackle even the most intricate and nefarious cases while spending a smaller percentage of their budgets.<\/p>\n

We encourage you to read the report<\/a> in full.<\/p>\n

<\/div>\n
\t\t\t

\"\"<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

According to new research from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics. The study, which surveys insurer use, strategies and plans for anti-fraud technology, notes that an increase in fraud (up 11 percent since 2014) is the driver behind the adoption. Insurers are relying less on traditional fraud technologies […]<\/p>\n","protected":false},"author":23,"featured_media":4483,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[217,741,404,855,397,854,127,152],"acf":[],"yoast_head":"\nInsurers Are Flocking Toward Advanced Analytics, Here's Why<\/title>\n<meta name=\"description\" content=\"According to new research from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim King\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/\",\"name\":\"Insurers Are Flocking Toward Advanced Analytics, Here's Why\",\"isPartOf\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg\",\"datePublished\":\"2019-04-01T14:00:21+00:00\",\"dateModified\":\"2019-04-02T18:20:18+00:00\",\"author\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c\"},\"description\":\"According to new research from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics.\",\"breadcrumb\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg\",\"width\":800,\"height\":400,\"caption\":\"Insurers Are Flocking Toward Advanced Analytics, Here's Why\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/solutionsreview.com\/business-intelligence\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Insurers Are Flocking Toward Advanced Analytics, Here’s Why\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/\",\"name\":\"Business Intelligence & Data Analytics Platforms | Solutions Review\",\"description\":\"Evaluating Enterprise BI Tools, Visual Dashboards & Embedded Analytics Software.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/solutionsreview.com\/business-intelligence\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c\",\"name\":\"Tim King\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg\",\"caption\":\"Tim King\"},\"description\":\"Tim is Solutions Review's Executive Editor covering the human impact of AI on the future of work and learning. He is also the Media Strategist behind Insight Jam (1M+ on YouTube) events and programming. A 2017 and 2018 Most Influential Business Journalist and 2021 \\\"Who's Who\\\" in multiple categories, Tim is a recognized thought leader in enterprise tech and AI.\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/author\/timking\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Insurers Are Flocking Toward Advanced Analytics, Here's Why","description":"According to new research from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/","twitter_misc":{"Written by":"Tim King","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/","url":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/","name":"Insurers Are Flocking Toward Advanced Analytics, Here's Why","isPartOf":{"@id":"https:\/\/solutionsreview.com\/business-intelligence\/#website"},"primaryImageOfPage":{"@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage"},"image":{"@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg","datePublished":"2019-04-01T14:00:21+00:00","dateModified":"2019-04-02T18:20:18+00:00","author":{"@id":"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c"},"description":"According to new research from the Coalition Against Insurance Fraud and SAS, insurers are increasingly adopting advanced analytics.","breadcrumb":{"@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#primaryimage","url":"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg","contentUrl":"https:\/\/solutionsreview.com\/business-intelligence\/files\/2019\/03\/oie_VGrlGVMNCYMW.jpg","width":800,"height":400,"caption":"Insurers Are Flocking Toward Advanced Analytics, Here's Why"},{"@type":"BreadcrumbList","@id":"https:\/\/solutionsreview.com\/business-intelligence\/insurers-are-flocking-toward-advanced-analytics-heres-why\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/solutionsreview.com\/business-intelligence\/"},{"@type":"ListItem","position":2,"name":"Insurers Are Flocking Toward Advanced Analytics, Here’s Why"}]},{"@type":"WebSite","@id":"https:\/\/solutionsreview.com\/business-intelligence\/#website","url":"https:\/\/solutionsreview.com\/business-intelligence\/","name":"Business Intelligence & Data Analytics Platforms | Solutions Review","description":"Evaluating Enterprise BI Tools, Visual Dashboards & Embedded Analytics Software.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/solutionsreview.com\/business-intelligence\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/154e152a275103e373e24ada7f2feb5c","name":"Tim King","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/image\/","url":"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg","contentUrl":"https:\/\/solutionsreview.com\/business-intelligence\/files\/2023\/12\/tk.jpg","caption":"Tim King"},"description":"Tim is Solutions Review's Executive Editor covering the human impact of AI on the future of work and learning. He is also the Media Strategist behind Insight Jam (1M+ on YouTube) events and programming. A 2017 and 2018 Most Influential Business Journalist and 2021 \"Who's Who\" in multiple categories, Tim is a recognized thought leader in enterprise tech and AI.","url":"https:\/\/solutionsreview.com\/business-intelligence\/author\/timking\/"}]}},"_links":{"self":[{"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/posts\/4482"}],"collection":[{"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/comments?post=4482"}],"version-history":[{"count":0,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/posts\/4482\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/media\/4483"}],"wp:attachment":[{"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/media?parent=4482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/categories?post=4482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solutionsreview.com\/business-intelligence\/wp-json\/wp\/v2\/tags?post=4482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}