Ranger4 DevOps Blog

How IBM Watson Explorer Helps Insurance Organisations

Posted by Helen Beal on Tue, Mar 31, 2015 @ 17:03 PM

A global financial services and insurance company based in New York City minimizes risk, increases fraud detection and gains deeper insight into claims losses when it implements IBM Watson Explorer software to provide a faster, more efficient data capture and analysis solution

Client Background:

The client is a multinational insurance and financial services company. Through numerous subsidiaries, the company provides commercial, institutional and individual customers with a broad portfolio of products and services, including property casualty insurance, life insurance, retirement services and asset management services.   
 

Business Need:

The business of insurance is simply about assessing the risk of occurrence of some action - damage to a high-risk structure from a hurricane, for example - and putting a dollar figure on the actuality of the action occurring. It’s a high-stakes bet, and insurance companies need every bit of information at their disposal to understand the true risk and limit risk exposure.

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Topics: Case Story, Watson