Let’s Play Moneyball: 5 Industries That Should Bet on Data Analytics

As the baseball playoffs start to heat up, we thought it would be fun to revisit an article from last fall: Let’s Play Moneyball: 5 Industries That Should Bet on Data Analytics. Bruce Winterburn, VP of industry relations, makes several points about the role data plays in the insurance industry. It’s an interesting read on big data, a topic that continues to grow in our industry. Hope you enjoy it again, and good luck to your favorite baseball team! Did you like this post?

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Big Data — So What?

So Big Data offers big insight. Okay, that sounds valuable. Can you show me how? Here’s a fascinating example. In 2010, Haiti was devastated by a 7.0 magnitude earthquake. Relief agencies from around the world immediately started sending people to the devastated region. In the midst of their rescue efforts, workers on the ground discovered an unforeseen problem. Approximately one in seven people in Haiti only speak Haitian Creole. Virtually no one from the relief agencies could communicate...

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What is Big Data?

Everyone these days is talking about Big Data. The question is “why,” as in why do so many businesses want it and why should I care? Here, in a nutshell, is the answer: Big Data offers a potential game changer for the way you do business. Before explaining how, let’s first define what Big Data means. Contrary to the phrase, Big Data is not about size. Most companies have been collecting data for centuries. Big Data is about insight, about taking a tremendous influx of information from dif...

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Recap: The Summer NAIC National Meeting in Louisville

Did you miss out on the Summer NAIC National Meeting? Don’t worry—Vertafore has you covered. When & Where: The Summer NAIC National Meeting was held in Louisville began on Friday, August 15th and ended on Tuesday the 19th. The Highlights: Big producer licensing-related topics were discussed, including uniformity in surplus lines and adjuster licensing. (More on those below.) NARAB II got some mention, but most everyone was still in wai...

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12 Pillars: The Challenge of 50+ Regulatory Rule Sets and How We Can Overcome It

In previous posts, I talked about the producer lifecycle and some (ok, 12) challenges associated with automating more of the producer lifecycle. Now I want to talk about perhaps the biggest obstacle to an efficient and effectively managed producer lifecycle: the 50+ regulatory jurisdictions (in addition to federal involvement/oversight) that presents itself as a densely-entangled forest of ever-so-slightly differing rules and regulations. And this is just the insurance world...

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