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The financial and insurance sector is characterized by business processes that are largely automated, but are also intermittently interrupted in some places by a required manual employee interaction. This provokes a certain complexity in handling those automated processes. Compared to other sectors, the financial and insurance sector has recognized the potential of IT-solutions for the automation...
Since China launched the national silk road economic belt and formulate action plans, Xinjiang as the core of the land of the silk road economic belt looks remarkably, build Urumqi as the central Asia regional financial center. This is of great significance to the development of the west and to the outside world. In this paper, by analyzing the financial current situation of Urumqi, and will be in...
Insurance plays a key role in the financial industry, and it is also of great importance for people's socio-economic life. Therefore, in this paper, we demonstrate on the problem of analyzing the operating performance of insurance companies, and it is crucial for modern financial industry development. Firstly, we design an index system for evaluating operating performance of insurance companies, which...
Modern healthcare service records, called Claims, record the medical treatments by a Provider (Doctor/Clinic), medication advised etc., along with the charges, and payments to be made by the patient and the Payer (insurance provider). Denial and rejection of healthcare claims is a significant administrative burden and source of loss to various healthcare providers and payers as well. Automating the...
Nowadays the exponential evolution of repositories in business information data has led to an unorganized, huge, and unstructured data collection. Hence, it has become increasingly difficult to retrieve useful information from these large collections of data. Business Intelligence System Model is therefore proposed as a process-focused design for understanding and evaluating the effectiveness of information...
There has been a surge in the deployment of Vehicleto-Vehicle or Vehicle-to-Infrastucture (V2X) telematics in recent years. One of the promising revenue streams in the telematic ecosystem is the use of diagnostic data to provide insurance relevant information. The use of telematic insurance requires the collection of a vast amount of vehicular data. Some of this data is clearly indicated in the web...
Cloud federation paradigm can improve cloud service providers' (CSPs) profits by renting their idle resource to other federation members. However, these CSPs have the risk that they cannot fulfill their scalability commitment when some of their customers have large short-term resource demand. To reduce this risk, we design a reinsurance-emulated collaboration mechanism in a broker-based cloud federation...
This article discusses the issue of cyber risk insurance. The author presents the use of the Pareto analysis for the identification and evaluation of assets of the organization. Utilization of this method is presented on the generalized type of organization that is used for modeling the example. The results of the analysis are presented through tables and charts, which are used for accurate representation...
Fraud and abuse are two factors directly related to high health care costs, since they correspond to expenses that can be eliminated without prejudice to the quality of services provided. In Brazil, the health insurance companies implement a claim authorization process which assists in the detection of fraud and abuse. This process consists of a prior analysis of the services requested by providers,...
Accurate and robust risk prediction methods are of critical importance in calculating insurance costs. In the present paper, we study the case of vehicle insurance and develop a computational intelligence based method for obtaining risk estimates based on the data provided by the client to the insurance company. The method is based on analyzing the contracts, processing the input data, applying classification,...
We propose two secure protocols namely private equality test (PET) for single comparison and private batch equality test (PriBET) for batch comparisons of l-bit integers. We ensure the security of these secure protocols using somewhat homomorphic encryption (SwHE) based on ring learning with errors (ring-LWE) problem in the semi-honest model. In the PET protocol, we take two private integers input...
Due to health information sensitivity, privacy-preserving is a crucial issue in electronic health record systems. Users must provide their health information to insurance companies for their applications. This introduces potential threats to user privacy. In this paper, we propose the fairness-aware and privacy-preserving (FAPP) protocol for online health insurance systems. In the FAPP protocol, a...
Big data has been acknowledged for its enormous potential. In contrast to the potential, in a recent survey more than half of financial service organizations reported that big data has not delivered the expected value. One of the main reasons for this is related to data quality. The objective of this research is to identify the antecedents of big data quality in financial institutions. This will help...
Timely identification of potentially dissatisfied customers enables us to take meaningful interventions to improve customer experience. The goal of this work is to create models that can predict customer satisfaction for active insurance claims at any point in time during the claim process. In order to capture relevant temporal information, we introduce the concept of a "journey-map": a...
In this paper, we discuss the issue of collaborative data sharing among a number of parties to provide rich online services to their clients. We assume that each party hosts its data in a private cloud infrastructure but they collectively agree to certain well-defined set of accesses and access restrictions to one another's databases. We show how these can be used to derive access rules that become...
We have deployed a big data platform for the insurance company. One can select the data they need from database, do data analysis job and save the final model to the model pool using the platform. We completed churn prediction task on both SPSS [1] and Spark [7] using the data providing by X insurance company and carefully compared the execution flow, runtime, model evaluation, and model precision...
Risk management plays an important role in automobile insurance. Risk classification is the first step in risk management. In order to classify the risk levels of the insured, we provide Analytic hierarchy process(AHP) to identify the risks. Firstly risk factors of automobile accidents are identified according to the theories of accident causation. Then AHP is used to calculate the weighs of risk...
Bonus-malus system (BMS) in motor vehicle insurance is an incentive system to encourage people to drive more carefully. At present, the transfer rule of BMS is related to claim numbers only and it is unfair for the insureds with small claim amounts. In order to establish a scientific Bonus-malus system, we provide hazard identification method to optimize it. By analyzing risk factors of motor vehicle...
In this paper, we focus on the problem of analyzing the operating performance of insurance companies, and this problem is crucial for modern financial industry development. Index system for evaluating operating performance of insurance companies is made up of four parts: 1) Profitability, 2) Solvency, 3) Capital adequacy and 4) Management ability. Main idea of this paper is to introduce DEA model...
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