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How Digital Networks can dramatically impact Claims Spend

Innovation is enabling Insurance Carriers to lower Claims Spend in ways that have not traditionally been available, and the impact is available to all size carriers, whether a regional mid-size, a large national, or a mega-multinational organization Expansive business networks, and ecosystem platforms effectively integrated with claims management processes are …

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SAP Financial Services Innovation Summit:Oct 11-12

  Is your business prepared to capitalize on the Internet of Things (IoT), artificial intelligence (AI), open APIs and Blockchain– or are you lost in the maze of options and opportunities? Learn how to successfully leverage an ecosystem of customers, partners, and employees to drive innovation at the SAP Financial …

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Predictive Analytics Impact on the Insurance Industry

  Predictive analytics is playing an ever-increasing role in virtually all areas of the insurance industry. Throughout the value chain of marketing, sales, underwriting, pricing and claims, predictive analytics are assisting more and more companies in better risk assessment, maximizing the return on their investments, improving customer service and increasing …

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IFRS 17 – The New Rules Are Here, Are You Ready for a Change?

The International Financial Reporting Standard 17 (IFRS17) was recently launched by the International Accounting Standards Board. This standard replaces IFRS 4 and will have a significant impact on many insurers today. Specifically, it targets transparency within the industry. This long-awaited change will impact the way today’s insurers operate on a …

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Major Milestone Achieved in the Schools of Tomorrow Project

Ageas, a multinational insurance company co-headquartered in Brussels, Belgium, recently announced that Ageas Real Estate, completed its 100th school infrastructure project. Remarkably, delivery of a brand new building for primary school De Horizon in West Flanders occurred just under four years after construction commenced on the very first “School of …

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SAP Next-Gen Boot Camp on Machine Learning in Financial Services

Machine Learning and AI is not new in the market! Computer scientists have been working on Artificial Intelligence since the 1950s. BUT today, thanks to huge advances in technology, Big Data processing, massively increased computing power, and improved algorithms, computers have begun to compete with, or even surpass, human abilities. …

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SAP Digital Boardroom for Insurance video

We are pleased to introduce a new SAP Digital Boardroom for Insurance video which showcases how insurers can achieve unmatched, real-time insights into profitability and performance metrics, anytime and anywhere. Find out how the SAP Digital Boardroom solution helps insurers: Answer ad-hoc questions on the fly Monitor performance against critical …

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Several InsurTechs will go up in smoke soon

Dear insurance experts, Several InsurTechs will go up in smoke soon. That’s my opinion. Why? Many InsurTechs focus only on the customer relationship in conjunction with new business. On the one hand, that’s good for the consumers (e.g. policyholders, insured), when they search for insurance and want to buy a policy. On …

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SAP FS-PM: Schedule BTS generically

One might have encountered scenarios where the requirement is to schedule BTS generically within a program. It is good to have a single method that does this irrespective of the business transaction (BTX). Obviously, the next question would be, how to achieve that? Input Before deciding the algorithm, let us …

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Expenses in Insurance

Expenses in Insurance: There are many factors for an insurer, that drive the cost across it’s value chain. Economic climate, it’s business complexity, performance management, operations, IT, support functions, geography – just some of them perhaps. At their core operational model, these expenses fall under similar groups and patterns. An …

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Exclusive Preview: SAP Digital Insurance Innovation Summit

SAP Digital Insurance Innovation Summit October 13–14, 2016 | San Francisco, CA By Bob Cummings, SAP Global Head – Insurance Business Unit Fall is just around the corner, and the insurance team at SAP has been hard at work putting together the SAP Digital Insurance Innovation Summit, taking place October …

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The Private Blockchain Is More Than One Step Ahead

The blockchain technology has been developed based on the Bitcoin idea – the public model of crypto-currencies – as a public peer-to-peer network.  The usage of crypto-currencies should be the first use case in the insurance industry, I believe. But it won’t be the last. The nature of blockchain technologies …

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How the Insurance industry can leverage the potential of IoT

A recent report from TCS shows that the insurance industry is expected to spend $102.9million on IoT-related technology and solutions in 2018 alone, up from $77.7million in 2015. This huge growth in investment demonstrates the financial potential of untapped data, and the ability to access this is now presenting the …

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What Is A Digital Insurance Workforce?

This blog written by Mainak Patel posted on the Digitalist 7/19.2016 Digital transformation is the catchphrase of this century. From the global reach of the Internet to the hyper-connectivity of social media, we are living in a digital world. In the insurance industry, companies are driving business by applying technology …

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