Category: Machine learning & AI

An illusion – the ‘Next Best Action’

In customer management, the “next best action” is a recommendation to staff on the most relevant next conversation to have with each customer – the next product or service they are likely to require. It is usually determined by analytics and machine learning. The ‘next best action’ promises much to insurers hoping to engage better with their in-force customer base. We […]

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Betting on AI or IA?

Let’s start with some definitions: The AI (Artificial Intelligence) camp believes the future of computing is autonomous systems such as robots that can be taught to imitate/replace human cognitive functions The IA (Intelligence Augmentation) camp believes that information technology can supplement and support human thinking, analysis, and planning, but leave the human at the centre […]

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End-to-end data analytics

Data science can significantly improve the management of in-force customers.  In the process it can also add significant value for the shareholder. But many insurers (and banks) have struggled with data analytics. Progress has been slower than data experts hired from other industries would have predicted. Here are two of the common pitfalls: The ‘we need to organise […]

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