The #1 Business Continuity Publication in the World!
Every issue, Disaster Recovery Journal (DRJ) delivers how-to, in depth knowledge into business continuity planning more than any other business publication. This unique ability to take readers further inside the issues has made DRJ the #1 read business continuity publication in the world, one with a circulation and audience that consistently dominates the business continuity magazine field. Add to this strength that we have consistently higher ad recall than our competitors in every major advertising category and the DRJ advantage becomes clear.
LONDON – The insurance industry must be prepared for future market challenges, the quickening pace of customer-driven commerce and the continuing spread of the digital economy, says Ovum. According to the independent global analysts, insurers can improve their competitive position by implementing predictive analytics and using the wealth of rich data available from social media channels and conceptual sources such as the ‘Internet of Things’.
A new report* from Ovum suggests that in order to be better prepared, insurers should focus on creative initiatives that analyse data from a number of sources, including social media, third parties and machine-to-machine communications. By concentrating predictive analytics on key areas of the business – namely business operations, marketing and customer relations – insurers will be able to determine which markets to enter or leave, shape target market initiatives and estimate potential losses for the book of business as each customer is added.
Insurers are already well aware of the impending threats/challenges including tightening regulation, demanding customers, an ageing population and weakened economies,” says Barry Rabkin. “The critical differentiator for insurers will be minimising future risk thorough predictive analytics by tapping into the vast amounts of rich data.”
Finally, Rabkin reveals that a new role is emerging – the data scientist role – and this will be as important as the well-known data miner role in the insurance industry. Ovum is already seeing a growing number of insurance companies creating new departments of these types of quantitatively skilled professionals. This role will take a deeper approach to research (i.e. collect more data and explore more hypotheses) and generate recommendations that are scalable down to individual lines of insurance business. Ovum believes that data scientists and data miners will work closely together to discuss "what if" questions regarding their predictive analytics initiatives.
Subscribe to DRJ!
Thank you for joining the DRJ.com community. This site is the one place to find the latest information, network with practitioners and discover new technologies and solutions. By registering with the site, you will receive access to our archives, be emailed our information blasts and receive our quarterly magazine via mail.
Disaster Recovery Journal is the premier magazine in the business continuity industry. Since its inception in 1987, the Journal has provided our readers with reliable information on disasters, services, trends, products and more.
DRJ.com Membership Benefits:
Free Mail Delivery of DRJ's Quarterly Journals
Free Access to the DRJ Archives
Alerts to the #1 BC/DR Conference
Post Blogs For Free
- A Look at What’s Happened in 2014 and What Compliance Challenges Are Still to Come
- Researchers look into improving the availability of complex systems by better understanding inter-dependencies
- WHO identifies six countries at high risk for spread of Ebola
- Disaster Recovery – Sometimes the Devil Really is in the Details
- BCI Diploma (DBCI) in Business Continuity
- The BCI Good Practice Guidelines Live Online Training Course
- In Step with Data Virtualization
- Confounded and Confused
- Risk Assessments-the Cornerstone of Your Compliance Program, Part III
- Software-Defined Storage and Business Continuity – One Up on Virtualisation?
- Could Privacy Concerns Weaken Big Data’s Business Case?
- Relying on Backups in a Disaster can be a CLM (Career Limiting Move)
- Napa Quake Rattles D.C. Efforts on Seismic Alerts
- Leadership in a Time of Drought
- Swiss Re: May Thunderstorms Most Costly Insured Nat Cat In H1 2014
- Risk Assessments-the Cornerstone of Your Compliance Program, Part II
- SAP Users Skeptical Big Data is Worth the Costs, Survey Shows
- FEMA Urges Caution Following California Earthquake
- Today’s Decisions Influence the Cloudy Future
- Avoiding Social Media’s Legal Pitfalls
- Prof Steve Peters to deliver keynote speech at the Business Continuity Institute World Conference
- Risk Assessments-the Cornerstone of Your Compliance Program, Part I
- Beyond Data Back-Up Requirements to E-Discovery Compliance
- Alternate Site Logistics – the Devil is in the Details
- Napa Quake Economic Loss Estimates at $1 Billion
- Earthquake Early Warning System Successfully Alerted California Researchers
- Napa Earthquake Showcases Limits of Lower-Cost Retrofitting
- Strong Earthquake Strikes Napa: Business Impact?
- Privacy and Data Protection: The View from Europe
- Trying Something Different – the Desktop Risk Assessment
- San Francisco Bay Area Quake Is Largest Since Devastating Loma Prieta in 1989
- Earthquake in Napa, Calif., Leaves Widespread Damage
- BYOD Proponents Get Bad News in California
- Business continuity and the non profit sector
- IT's Big Data Challenges Extend Beyond Size
- Evacuation Assembly Points
- How the ‘Year of the Four Hurricanes’ Changed Florida’s Readiness
- Social Media Adds Hype to Storms Before They’re Storms
- Humanizing the Data Scientist
- Mommy, I Want To Be a Business Continuity Planner!
- Call centers slash workstation costs with Userful desktop virtualization solution
- StorageReview Enterprise Lab Finds StorTrends 3500i Powerful and Easy to Deploy Hybrid Storage Platform Built for High Performance and Maximum Capacity
- Kroll Ontrack improves Apple mobile device data recovery success by 60 percent
- CacheBox Application Acceleration Software on data analytics workload delivers 111x Performance and a 99% Reduction in Latency
- Wick Hill Becomes Certified Training Centre For SafeNet Authentication Service
- ZETTA.NET INTEGRATES ENTERPRISE-GRADE CLOUD BACKUP AND DISASTER RECOVERY SOLUTION WITH CONNECTWISE
- SevOne urges caution as cost of downtime reaches £80,500 per hour
- Game Assistant 2 beta Unleashed: IObit’s Brand New System Optimizing Tool and Real-time Temperature Monitor for Gaming PC and Laptops
- STORServer and CommVault announce fall road show for new and existing reseller partners
- Everbridge is a keynote speaker at the 2014 German BCI Congress
- Userful Multiplatform desktop virtualization solution receives rave review from technology professional
- Telstra extends Whispir Conversation Platform to global businesses to create and automate targeted communication
- NaviSite Launches Two Additional UK Cloud Nodes
- MASERGY ACHIEVES PCI CERTIFICATION FOR NINTH CONSECUTIVE YEAR
- IObit Lauches MacBooster 2 to Speed up, Clean up, and Protect OS X Mavericks
- 5 Key Factors to Understand When Selecting a Cloud Voice Provider
- MyDigitalBridge, Microsoft and partners successfully trial largest TV White Spaces project in the world
- New ExaGrid Software Increases Total Ingest and Capacity by 40 Percent
- KDDI to Build New Telehouse Data Centers in Tokyo and Osaka
- EPiServer positioned for growth as UK demand for ecommerce and digital solutions increases
- Brocade Capital Solutions Partners with BNP Paribas Leasing Solutions To Expand its Services Throughout Europe
- Steria receives Tesco Supplier of Year 2014 award for IT Service and Support
- Designing & Operating Mission-Critical Environments
- Avaya and HP to Deliver Expanded Communications Services to the Enterprise
- HealthPlanOne Receives Marcum Tech Top 40 Award for 5th Consecutive Year
- Growth in Managed Services driven by new market entrants
- Perforce Enables Secure and Performant Continuous Delivery on VMware vCloud Air
- StorTrends Sees Strong Momentum as $10.9 Billion Market for Solid State Drives Escalates
- ICOR Members and Friends Save 20 Percent on American Bar Association Cybersecurity Webinar Series
- Icon Labs’ Floodgate Defender Embedded Software Solution Achieves McAfee Compatible Status
- PEAK'S ENTERPRISE CLASS CLOUD INFRASTRUCTURE RANKS CONSISTENTLY IN CLOUDSLEUTH’S TOP 10
- SI-BONE, Inc. Announces Positive Coverage Decision by Priority Health
- TEOCO ranked among USA's fastest-growing private companies for 2014
- Send Word Now Earns Spot On The Inc. 5000 List For Seventh Consecutive Year
- CloudSigma Expands Public Cloud Footprint with DRFortress in Hawaii
- Parallels Announces Parallels Desktop® 10 for Mac with OS X Yosemite Integration
- Monroe Capital Provides $14.3 Million Credit Facility to Venture Technologies
- CacheBox Announces Addition of Micron P420m PCIe SSD to Hardware Compatibility List
- CloudSigma Expands U.S. Cloud Presence with Equinix in Silicon Valley and Miami
- Flexera Software's InstallAnywhere 2014 Simplifies Multi-Platform Installation for Physical, Virtual and Cloud Environments