Big data, machine learning and AI have become ubiquitous terms attracting widespread interest in the insurance industry with some citing it as the top disrupter with great impact on the insurance industry. While the insurance industry has always used historical data for business intelligence, big data marks the evolution from descriptive analytics to prescriptive analytics enabling insurance organisations to make decisions based on real-time data instead of historic data, experience, and gut feeling.
This programme covers a broad range of issues relating to big data and AI including the Big Data Landscape, the nature of Big Data, modelling concepts and developing a Data Analytics strategy. Through using of case studies, participants will also examine big data opportunities that can be taken advantage of by insurance companies in their various business functions. This is the ideal programme for participants wishing to explore services that go beyond insuring risks by offering active risk management on a forward-looking basis.
Learning Outcomes / Key Takeaways
By the successful completion of this programme, you will be able to:
- Describe the Big Data Landscape
- Describe examples of big data and AI in action
- Explain the difference between machine learning, deep learning and AI
- Understand how data-driven decision making applies to insurance
- Develop a Data Analytics Strategy and manage the challenges accordingly
- Know the AI opportunities available in the insurance industry
Module 1: Intro to Big Data and AI
- The nature of Big Data
- AI and Machine Learning
- Four Main Stages of Big Data Adoption
Module 2: Along the Value Chain: Examples of AI Solutions
- Product Design and Pricing
- Marketing and Sales
- Client Management
- Claims Management
Module 3: The Data-Driven Organization
- Implementation strategies
- Organizational structure
- IT infrastructure
Module 4: Overcoming Challenges
- Laws and regulations
- The data-driven culture
Well-balanced theoretical and practical methodology, which includes interactive discussions, case studies, interactive activities/exercises and assignments to understand the concepts and their applicability.
– 2-Day Training
– Module Notes
– Nationally Recognized and Internationally Accredited Certification
– Tea/Coffee Breaks
– Working Lunches
Participants must have attended the sessions at least 80% in order to receive a CERTIFICATE from Bangkok School of Management.