TECH TALK
Kelly Preston, Data Analytics Manager at SilverBridge
Taking data
analysis to
the next level
with AI
The Internet of Things and
artificial intelligence are just
some of the technology phrases
that are becoming part of
business discussions at insurance
companies across South Africa.
Kelly Preston, Data Analytics
Manager at SilverBridge,
discusses how they contribute to
next-level data analytics.
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INTELLIGENTCIO
E
ven though insurance companies are incredibly data
rich, very few of them harness the potential of data for
more customised solutions tailored for an increasingly
knowledgeable customer base. It is no longer good enough to
provide generic products and services. The connected citizen
expects more nuanced offerings that consider their specific
wants and needs.
Connected everywhere
With the growth of IoT (the telemetry systems of old),
insurance companies have an incredibly powerful ally to
create such bespoke solutions. Already, some are using these
devices to track driver behaviour for reduced (or loaded)
premiums. Up until recently, much of this analysis was driven
by employees with specialist data skill sets. And while it helped
to differentiate these insurers from their competitors, there is
still opportunity for even more growth.
Thanks to AI, analysis can go to the next level
Using advanced machine-learning algorithms, companies
can start implementing AI as a real-time analysis tool that
provides product developers with insights previously hidden
away. Even the best (human) data scientist is no match for a
computer when it comes to data analysis. AI is not just about
chat bots. It is about taking data sets, interpreting them
against specific requirements, and providing the insights
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