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How Insurance uses Decision Management technologies

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insurance decision managementThe Insurance industry is an avid user of Decision Management technologies. When you think about it, the whole Insurance business revolves around decisions: Should I ensure this person? What premium should I offer? Is this claim justified? Furthermore, you can add levels of complexity due to the various lines of business. Clearly, underwriting a home policy does not compare to underwriting a life policy. In this webinar, we will illustrate specific use cases we encountered in the Insurance industry.

First of all, regulations vary per geography. As a result, we see a potential combinatorial explosion of business rules for each geography, and for each line of business. For that reason, it takes great care to handle such patterns elegantly, and efficiently for the underwriting team.

As an example, a Life application must capture large volumes of data. Sadly, questionnaires often result in dozens of pages that discourage the most willing applicant. Given these points, we will review design patterns for improving this journey.

Similarly, we will review claims processing. Most noteworthy is the case of fraud and abuse. This is a challenge because of the various form it can take across lines of business. As a final point, we will review some use case of fraud detection.

This webinar is hosted by Carole-Ann Berlioz, Chief Product Officer at Sparkling Logic.

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