Data Management

Microinsurance and Claims: Fraud Prevention and Detection

In developed markets, it’s no secret that insurance fraud is an enormous problem. In the United States alone, according to data from the Aite Group , property/casualty insurance fraud costs the industry as much as $64...

Microinsurance and Claims: An Offer of Proof

A claim represents an opportunity for an insurance company to keep its promise. In developed markets, a claimant’s experience can mean the difference between retaining and losing a customer. In the developing market,...

Microinsurance and Claims: Key Claims Considerations

The role of the claims department in operating a microinsurance program may be even more sensitive than in mature markets. In any insurance market, large or small, the claims department engages with the customer in a...

Microinsurance and Claims: Overview

Microinsurance provides a unique opportunity for both insurers and insureds. Insurers (and their shareholders) can benefit from the growth potential afforded by new markets. At the same time, insureds can gain access ...

Three Important Tips for Special Investigators

Organized insurance fraud is becoming increasingly complex in both emerging and maturing markets. In the United States, the current impact of fraud upon the property/casualty insurance fraud is estimated to be as high...

Tapping the Well of Big Data

From the NSA to the NBA , big data is everywhere. It’s often billed as “the new oil.” And while it certainly has the potential to be as profitable, unlike oil, data is a constantly generated and renewable raw material...

21st Century Data Governance

Strategies that businesses rely on for big data continue to evolve at breakneck pace. Many companies still follow the 20 th century best practices: data stewardship, data and quality standards, and use of data...

Protect Yourself from the Rise in Organized Claims Fraud

Organized fraud is extremely difficult to detect, particularly because schemes have become increasingly complex. According to the Insurance Information Institute (I.I.I.), the National Insurance Crime Bureau (NICB)...

Effective Analytic Strategies and Successful Data Management

In a previous post , I wrote about how an effective analytics strategy must first start with good quality data — and lots of it. While good data provides the foundation on which to build, managing that data provides t...

Three Insights into Supply Chain Disruption

Supply chain risks are having a profound effect and becoming more costly, according to a report by Deloitte, The Ripple Effect: How Manufacturing and Retail Executives View the Growing Challenge of Supply Chain Risk ....