#Fraud_detection

[edujournalblogs]

Benefits of Big Data in insurance sector

The insurance industry, as we know is founded on estimating futurestic events and accessing the risk and value for these events whick by the way require massive datasets with data from sensors, government, customer interactions and social media etc., Today big data technology has been comprehensively used to determine risks, claims, etc., with high levels of predictive accuracy. Big Data are useful in the insurance sector for the following reasons:

Risk Assessment

Understanding of customer behavior,habits, needs to anticipate future behavior and offer relevant products.

Improve Fraud Detection and criminal activity through predictive modelling

Provide targetted products and services.

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URL: www.edujournal.com

[correctsuccess]

Can credit unions keep up with COVID's evolving phishing threats? | Credit Union Journal With extra credit score union staff working from residence than ever earlier than, hackers are looking out for safety weaknesses on residence networks – typically by e mail phishing schemes – that might compromise these establishments’ information.The Nationwide Credit score Union Administration cautioned the business early on within the pandemic about ongoing safety dangers, and the difficulty ha... #coronavirus #cuj_content #cuj_coronavirus #cuj_feature #cyber_security #fraud #fraud_detection #fraud_prevention #phishing #work_from_home

[edujournalblogs]

The insurance industry, as we know is founded on estimating futurestic events and accessing the risk and value for these events whick by the way require massive datasets with data from sensors, government, customer interactions and social media etc., Today big data technology has been comprehensively used to determine risks, claims, etc., with high levels of predictive accuracy. Big Data are useful in the insurance sector for the following reasons:

Risk Assessment

Understanding of customer behavior,habits, needs to anticipate future behavior and offer relevant products.

Improve Fraud Detection and criminal activity through predictive modelling

Provide targetted products and services.

Better customer Experience based on their preference and behavioral data

Automation through better customer interactions (chatbots), fraud detection, customer insight etc

Develop a smarter Work force with real-time analysis, Data Mining saving significant amount of labour and time.

Bring innovative products.

Better Strategic Decisions

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URL : www.edujournal.com