One Farrer Hotel16 November 2018
OpenGov, presents an exclusive Insurance Analytics Forum in Singapore on analytics in the Insurance landscape.
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As humans, it is natural for us to anticipate the near or far future based on our experience, character, hopes, dreams and even probability. Now, imagine that in the context of technology. We analyse current and historic data using algorithms and methods to predict the future. Especially the past years, data volume has increased exponentially resulting the trend of Big Data.
In the Insurance industry, technological trends are changing the way they approach underwriting, pricing and claims handling. These changes in the process lead to business and digital transformation.
Analytics generate insights for the consumer from the Big Data. These insights would give a better view of either the market, the customers and even the organisation’s worker. They display behaviours, trends and outcomes that could lead to a better decision making.
How do we shift from informed decision making to data driven decision making? What is the importance of data driven decision making?
People tend to forget the power of data. However, Data Scientists are increasingly indulging with the possibilities of data. Massive amount of data can be formed and designed to fit each individual’s needs and job roles. Human Resource Managers will need different kinds of insights compared to a line manager, same as the Chief Information Officer will need different insights compared to Chief Executive Officers. With Data Analytics, it is much easier to curate those insights to focus on specific people, not merely a standard report.
The Insurance and Financial Services Industries deal with massive amount of data, to which they are also classified. These amounts of data contribute to the organisation’s competitive success as organisations that value the insights gathered from their data also have a better understanding of their customers.
With the rise of Financial Technology (FinTech), more data are being stored digitally. Although it is definitely better compared to physical storage of the “ancient times”, one person’s data is considered a grain of rice in the mountains of data. Therefore, proper analytics tools and methods are needed to make meaning out of it. There is a demand for Business Intelligence and Analytics modernisation, especially in this digital era.
This timely event is well poised to discuss and deliberate issues with top Singaporean Insurance and Financial Services organisations. The objective is to enhance your knowledge, learn from the experiences of your peers, and gain insights into the latest tools and practices available to develop cutting edge strategies to help your organisation use data analytics for better decision making.
We will be discussing topics on:
This is a great opportunity for you to:
We are pleased to invite you to this closed door, invitation only insight session which will be a concise, focused and strategic discussion designed to enrich learning!