5 Challenges in AI implementation for Insurers

January 16, 2020

AI can improve productivity and help in decision making through training datasets. According to the survey of the Dataconomy, nearly 81% of 225 data scientists found the process of AI training more difficult than expected even with the data they had. Around 76% were struggling to label and interpret the training data.

Spotlight

Simplicity Group

Led by hallmarks of education, value and partnership, Simplicity Group provides holistic financial professionals and their clients with a comprehensive suite of products and services for every phase of life. Simplicity provides its advisor, agent, broker-dealer, and financial institution partners with best-in-class and proprietary products and operational support in the areas of guaranteed income, life insurance, wealth management, and long-term care. The organization also delivers sales and marketing resources and training to help its partners consistently grow their businesses and serve their clients.

Other Infographics
news image

7 Warnings About Guaranteed Issue Life Insurance

Infographic | February 28, 2020

Think of this as your overview to GI. Guaranteed issue policies are unique, so you will want to have a clear understanding of what you are buying. There are 7 important warnings you need to know about guaranteed issue life insurance.

Read More
news image

DISRUPT OR BE DISRUPTED: Clearing the Path to Digital Transformation

Infographic | January 24, 2020

Digital transformation in the insurance industry is real, led by InsurTech startups that are demonstrating how the creative application of innovative technology can deliver the products, services and overall experience customers want from every business they connect with. Agents and employees, as well, want a modern way to access, share and work with information, and a complete view of their customers at any time.

Read More
news image

CYBER INSURANCE DRIVERS OF LOSS

Infographic | January 8, 2020

The technology risks and manifestations are potentially interconnected, e.g. a breach could be caused by a staff error which leads to extortion which rejected leads to interruption.

Read More
news image

Why Does My Insurance Go Up?

Infographic | February 4, 2020

Do you know the difference between a Hard Insurance Market vs a Soft Insurance Market and the impact it has on your insurance rates? Check out the info-graphic below explaining the difference between the two. Soft insurance markets tend to lead to good conditions for buying insurance, while hard markets tend to lead to the opposite or bad conditions for buying insurance, IE higher costs. What market are we currently in you ask? In short, we are currently in a soft insurance market that is beginning to harden.

Read More
news image

Insurers and Consumers in Covid-19 Markets: Too Many Missed Connections

Infographic | April 14, 2021

Although the covid19 spread and the subsequent lockdown imposed will adversely impact the life insurers business in the short term, but with likely a change in consumer behavior and rise in demand for pure protection products given the uncertaninties, the medium term to long term impact may turn out to be positive for them. Insurers can do more to retain customers who are looking to switch providers.

Read More
news image

WHAT ACCOUNTS FOR THE GROWTH IN PRIVATE HEALTH INSURANCE SPENDING?

Infographic | March 5, 2020

Hospital care is the largest contributor to commercial health insurance spending growth - 42% of the increase since 2016. The growth in spending due to hospitals is more than twice that of the growth due to physician services and administrative costs, and ten times that of prescription drugs and nursing care. Efforts to control spending should consider how drivers of spending growth are linked to better patient care and chronic disease management.

Read More

Spotlight

Simplicity Group

Led by hallmarks of education, value and partnership, Simplicity Group provides holistic financial professionals and their clients with a comprehensive suite of products and services for every phase of life. Simplicity provides its advisor, agent, broker-dealer, and financial institution partners with best-in-class and proprietary products and operational support in the areas of guaranteed income, life insurance, wealth management, and long-term care. The organization also delivers sales and marketing resources and training to help its partners consistently grow their businesses and serve their clients.

Events