Pooya Sarabandi

𝐅𝐈𝐂𝐎 𝐔𝐧𝐥𝐞𝐚𝐬𝐡𝐞𝐬 𝐆𝐚𝐦𝐞-𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐓𝐨𝐨𝐥 𝐟𝐨𝐫 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐔𝐧𝐝𝐞𝐫𝐰𝐫𝐢𝐭𝐞𝐫𝐬  Exciting news from FICO! They have just launched a powerful new tool called the FICO Enterprise Security Score to help cybersecurity breach insurers better measure and manage risk across their insureds, portfolios, and industries. This innovative tool includes an insurance dashboard that allows underwriters to embed individualized risk assessment for each policy in their portfolio analysis. This gives them more flexibility in modeling various risk scenarios. Using the dashboard, underwriters will be able to: Understand risk at the individual policy level Assess risk across their entire cybersecurity insurance portfolio Model different risk scenarios FICO's head of cybersecurity solutions, Doug Clare, stated that this is a big step forward for the cybersecurity insurance industry, comparing it to how lenders use the FICO score to understand risk at the consumer and portfolio level. The FICO Enterprise Security Score aims to provide insurers with enhanced capabilities to measure, manage, and model risk at both the individual policy and portfolio levels, helping them make more informed underwriting decisions. This is an exciting development that will drive innovation in the cybersecurity insurance space. Read more about FICO's new tool here: https://lnkd.in/gDYVkpkq #CybersecurityInsurance #RiskManagement #PortfolioAnalysis #InformedUnderwriting #SAPSignavio #BusinessProcessManagement #DigitalTransformation #VipasTechnologies #ProcessMining #OperationalExcellence #Compliance #Efficiency #BPM #TechInnovation #EnterpriseSoftware #BusinessOptimization #ContinuousImprovement #RealTimeInsights #BusinessGrowth #EnterpriseTechnology #StrategicPlanning #ProcessAutomation #FICOEnterpriseSecurityScore #CybersecurityInsurance #RiskManagement #PortfolioAnalysis #InformedUnderwriting #InsuranceIndustry #Cybersecurity #FICO #GameChanger #Vipas

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Read our recent interview featuring Laura Noble, RVP — Risk Management Sales, and Nathan Frommelt, Area VP — Risk Management Sales, to explore the opportunities in the evolving insurance landscape, as well as the key insights and solutions driving superior outcomes for the industry. https://hubs.ly/Q02vbSyM0

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Guidewire's Alex Ryckebusch , MBA and Ryan Grant will be hosting the National Association of Mutual Insurance Companies (NAMIC) Claims webinar on October 1, "Lowering Your Loss Ratio With Embedded Claim Analytics: Best Practices from Leading Insurers." They'll be discussing some of the most valuable use cases, how they were implemented, and the demonstrated returns on investment. Register here: https://lnkd.in/g-CMawNU #GuidewireClaimCenter #insurance #insurtech #claims #claimsmanagement #analytics

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Insurance companies that are THRIVING with AI. 1. Lemonade Insurance: AI for Speed and Efficiency They used AI to streamline operations, therefore making it possible to process claims in a matter of seconds. Their AI Chatbot "Jim" handles: 🔸 initial customer interaction 🔸 policy management 🔸 claims processing Their use of AI has wiped out operational costs and improved customer satisfaction because of the faster claim resolutions. This automation set "Lemonade" apart from the competition 2. Liberty Mutual: AI for Enhanced Customer Interaction Liberty Mutual uses an AI-powered virtual assistant named “Solaria” to assist customers in: 🔸 filing claims 🔸 understanding policy details 🔸 getting quotes Solaria is available 24/7, providing an immediate help and freeing up human agents to handle more important tasks. Rather than replacing their agents, Liberty Mutual used AI to skyrocket their efficiency and increase customer satisfaction. 3. AXA: AI for Personalized Customer Experience 🔸 AXA uses AI to provide personalized recommendations and services to their customers. 🔸 By analyzing customer data, the AI system can suggest the most relevant products and services, improving the overall customer experience. These companies are a sheer proof how much opportunity AI offers, rather than being perceived as a threat to the workforce. This is even a bigger opportunity for small companies. Knowing it works for big companies and insurance carriers, you can use this information to act quickly and stand out. You don’t even have to build your own AI systems like these big companies. There are countless AI Automation tools specifically tailored for insurance agents and smaller agencies. 👉 Adapt to the new technologies and join the AI thriving companies’ club.

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Charlee.ai will be at booth 201 during Duck Creek Formation 24, from May 21-24. Our AI-driven solutions are redefining insurance. Don't miss out on learning about how Charlee.ai is using AI to reduce claims expenses, litigation and fraud. #Insurance #Formation #Claims #CharleeAi

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Align your risk management strategy with your organization's financial priorities with Risk Tolerance Clarified https://ow.ly/NI9Q50SAkVL Join our industry and product specialists at Florida RIMS to find out how Risk Tolerance Clarified can define and refine your approach to risk. #WTWRIMS #RiskManagement #Analytics #DataAnalytics

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⏳ Don’t let backlogs slow you down! Low-code platforms empower insurers to modernize operations, streamline workflows, and deliver faster, better services. From automating underwriting to optimizing claims, see how low-code enhances agility, compliance, and efficiency. ➡️ Read the blog: https://lnkd.in/esE4dvTV #InsuranceIT #LowCode #ITBacklogs #ProcessAutomation

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Karim Derrick, Chief Products Officer at Kennedys IQ explores the benefits of LLMs and their comparative value to human analysis. He says: "Language models have been developed to predict the next word in a given text, or the next word given a text as context. As such they are a significant development in the natural language processing field.   "The basic models are trained on very large corpuses of text and can then be fine-tuned on domain or task specific texts which can include semantic analysis. Fine-tuning language models allows the model weights to be adjusted for down-stream natural language tasks. "Early attempts at this approach have used BERT (which stand for Bidirectional Encoder Representations from Transformers), the original Transformer model." https://lnkd.in/eZpsHRrD

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EXCLUSIVE: Cyber insurtech Measured parts ways with underwriting staff in pivot to analytics model Learn more👇 https://lnkd.in/e3NSeabP Utah-based cyber insurtech MGA Measured parted ways with all of its underwriting staff earlier this year as part of a broad strategic pivot to providing analytics services, which the firm said is the result of soft market conditions, Cyber Risk Insurer can reveal. #Cyber #InfoSec #InsureSev #MGAs  #insurance #insurancemarket #insurancenews #Cybersecurity

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You can integrate rich geography and underwriting maps into the processes to take action or assign work appropriately with Crunchwork. This means faster triaging and assessment capabilities, and faster allocation to the right claims. Book a free demo today: https://hubs.la/Q02-j2Zq0 #crunchwork #floodmap #underwritingmaps #insurtech #codafication

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Building a robust claims data platform? Here are the top 7 fundamental components. https://lnkd.in/gRR7q7yE 1. Technology Stack 2. Data Acquisition 3. Data Quality 4. Common Data Model 5. Groupers 6. Measures 7. Risk Models Most organizations spend significant time re-inventing and re-building these components Dive deeper into each component in our detailed blog post and learn how you can avoid re-inventing the wheel with Tuva. #healthcaredata #healthcareanalytics

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You can integrate rich geography and underwriting maps into the processes to take action or assign work appropriately with Crunchwork. This means faster triaging and assessment capabilities, and faster allocation to the right claims. Book a free demo today: https://hubs.la/Q02Stzfh0

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Arch Insurance selected Guidewire ClaimCenter as its new system for claims management. Read the news here: https://lnkd.in/gQ3vzKMN #GuidewireClaimCenter #claimsmanagement #claimstech #insurance #innovation #insuranceinnovation #insurtech #insurancetechnology

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The FWA Overpayment Problem: Legacy claims data-centric FWA approaches CAN’T SEE dynamic provider behaviors and relationships and MISS the context in which claims are submitted for payment. The FWA Overpayment Solution: Provider-centric FWA detection and prevention that continuously analyzes every claim in the context of all claims and all providers…all in near real-time. NAMPI Symposium: Provider-Centric FWA Prevention The value of seeing every provider behavior, trend, pattern, relationship, and outlier in near real-time. Tuesday, August 20th │ 11:20 AM │Celestin A, Third Floor #NAMPI2024 #MedicaidIntegrity #4LDataIntelligence #Integr8AI #FWAPrevention #Fraud #Healthinsurance #ProviderData #AI #HealthcareTech #4LDATA #Medicaid #Artificialintelligence

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