DATA SCIENCE FOR BANKING AND INSURANCE

November 20, 2016

Over the course of many centuries, the banking and insurance industries have developed processes, products, and infrastructures that have shaped the economic history of humankind. But now, they are threatened with extinction by challengers who appeared on the world stage a mere couple of decades ago, and some who emerged just a scant few years ago, but who nonetheless are already rewriting the rules of financial services. These challenges include Internet-era giants like Google, Amazon, Facebook, Apple, Baidu and Alibaba; nimble startups like Credit Karma, Lending Club, Square, Lemonade, TransferWise, and GoFundMe; and even, through the Internet of Things, wholly unlikely competitors like manufacturers of consumer and industrial goods.

Spotlight

Palomar Insurance Corporation

Celebrating over 60 years of service, Palomar Insurance Corporation along with Palomar Plus continue to grow through excellent service to our customers. We serve both domestic and international customers and design insurance packages that fit there financial and risk needs. Our corporate office is located in Montgomery, AL with business offices in Montgomery, AL, Atlanta, GA., Birmingham, AL. and Troy, AL..

OTHER WHITEPAPERS
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Top trends in property and casualty insurance 2023

whitePaper | December 5, 2022

As we head into 2023, P&C insurers will prioritise digital transformation initiatives to navigate geopolitical risks, supply chain disruptions, sluggish growth and rising inflation. Key actions will include focusing on customer centricity, prioritising agile product innovation, embedding sustainability into corporate strategy, and building advanced digital capabilities to build a resilient, future-ready enterprise.

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The digitalisation of the insurance tax landscape

whitePaper | August 23, 2022

From independent operators to midsize businesses and Fortune 100 companies, more than 30,000 customers choose Avalara for tax compliance tools scaled to their needs. You’ll find Avalara all around the world helping businesses prepare for growth in the global market.

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The evolution of fraud in the insurance industry

whitePaper | November 20, 2019

In fact, the Coalition Against Insurance Fraud indicates $80 billion of insurance fraud occurs in the U.S. every year.1 But given the often-intangible nature of insurance fraud, this is hardly a firm figure and doesn’t precisely identify operational costs incurred. With many forms of insurance fraud going unchecked, the actual amount of fraud loss insurers is dealing with — both in the U.S. and abroad — is often an educated guess at best.

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Top Insurance Industry Issues in 2019

whitePaper | November 29, 2019

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

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Supercharging P&C insurance sales with the digital customer experience

whitePaper | January 31, 2023

The Property and Casualty (P&C) insurance industry is being dramatically transformed by digital technologies that are shifting the customer relationship back to the carriers. Beyond working through third-party agents or brokers to purchase insurance policies, more customers are going directly to insurance carriers via their website and other digital channels. Driven by the convenience of online shopping, insurance companies are now expected to provide information that helps customers learn about policies, compare options and even complete an application from virtually any connected device, 24/7.

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The art of successfully migrating complex legacy systems to modern life insurance platforms

whitePaper | August 31, 2022

To seize new market opportunities and achieve compliance, life insurers need to successfully migrate complex legacy systems to modern life insurance platforms. This content highlights six strategies for effective, efficient and successful legacy data migration projects.

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Spotlight

Palomar Insurance Corporation

Celebrating over 60 years of service, Palomar Insurance Corporation along with Palomar Plus continue to grow through excellent service to our customers. We serve both domestic and international customers and design insurance packages that fit there financial and risk needs. Our corporate office is located in Montgomery, AL with business offices in Montgomery, AL, Atlanta, GA., Birmingham, AL. and Troy, AL..

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