Author: Suvo Dutta

Artificial Intelligence / Insurance

How Deep Learning is transforming the fabric of auto insurance and the challenges

In this article, we discuss the application of deep learning in the auto insurance industry, specifically in the areas of motor insurance and damage assessment. The focus will be on how autonomous vehicles are impacting the motor insurance field and the need for alternative careers as human-driven cars become obsolete. Additionally, we will explore the practical uses of deep learning in insurance, using the example of developing a classifier for vehicle damage assessment. Let’s begin by acknowledging the profound impact that autonomous vehicles are having on the motor insurance industry. As these self-driving cars become more prevalent, there is a...

Insurance / Quantum Computing / Strategy

Five Use Cases of Quantum Computing for Life Insurance Companies to be ready for the Quantum Future

As quantum computing continues to advance rapidly, life insurance companies must proactively prepare for the transformative impact it will have on their operations and industry as a whole. This article aims to provide strategies and recommendations for life insurance companies to navigate the quantum future successfully. 1. Embracing Quantum-Resistant Cryptography: Quantum computers pose a significant threat to traditional cryptographic algorithms used to secure sensitive data. Life insurance companies should invest in quantum-resistant encryption methods to safeguard customer information and policy data. Here are three key aspects to consider when exploring quantum-resistant cryptography: By proactively exploring and implementing quantum-resistant cryptography, life...

Cloud Computing / Modernizations / Strategy

A 10-step guide to a reliable, repeatable & risk-optimized approach to cloud migration

A 10-step guide to a reliable, repeatable & risk-optimized approach to cloud migration. 1. Define business goals & KPIs to layout a clear definition of success. 2. Identify current-state roadblocks to the above goals. 3. Consider technology as table stake. Focus on people, processes, culture, and value of the existing IT landscape. 4. Set up a COE made up of reps from business, leadership, technology, cross-functional teams, to play the change agent within the organization. 5. Establish inventory of existing applications. Leverage 6R framework (Retain, Retire, Re-host, Re-architect, Re-platform, Rewrite) to identify what can stay on, what needs to change...

Cloud Computing / Data Strategy / Digital Transformation / Modernizations / Strategy

What is the future of RDBMS?

Serverless philosophy came a long way & likely to be the default architecture paradigm of the future. Currently, there are heavy uses of “serverless” for websites, applications, APIs, workflows & CDNs. In contrast, serverless RDBMSs are still not so widely used. While there are offerings like AWS Aurora (for MySQL), there are concerns in terms of security, access control, transaction mgmt, etc. As a result, RDBMSs still mostly get deployed either as on-prem or in VPC private subnets. But such deployments fail to align well with serverless apps & front-ends? Should then lambda functions with infinite scalability be allowed to...

Artificial Intelligence / Big Data / Cloud Computing / Data Strategy / Digital Transformation / Insurance / Integrations / Leadership / Machine Learning / Modernizations / NOSQL / Strategy

A “member enrollment” challenge in group employee benefits that is far deep-rooted than was thought to be, and how a “next-gen” solution can fix it.

Why member enrollment is an area of concern! Member enrollment is a crucial business function in healthcare and insurance group benefits and is directly associated with customer experience. It influences the experiences of all major external personas in the following way: Eligible employees start receiving coverage protection only when successfully enrolled in the carrier’s system Employers depend on the successful completion of the enrollment process for determining premium installments and accounting Plan administrators get paid only when the enrollment process is complete Brokers receive commission only on successful completion of the enrollment process as the way to determine employee participation...

Management / Strategy

An HBR tool to gauge effectiveness of teams for success

This HBR format of surveying effectiveness of teams looks relevant not just from a standpoint of small & dedicated teams but also from a risk mitigation perspective for massive enterprise-scale digital initiatives. This risk is in the fact that digital transformation projects are largely cross-functional. They span many functional areas or customer journeys within an enterprise. Thus, while such a digital initiative may have its own dedicated team, it also needs support from business leaders, analysts, IT teams, large-program managers, enterprise architects, infrastructure managers, executives, etc. from other functional areas. Data shows that 60-70% of digital transformation projects fail due...

Data Strategy / Insurance

What’s wrong with “data strategy” for insurers!

What can slow down “data” in insurance when data is always at its heart, from rating to risk management, customer service to claims! No wonder insurers have always been good at managing huge amounts of data. But as we know “what brought you here won’t take you there”, this ability needs to grow in today’s world when the very fabric of data has changed astronomically in its source, volume, variety, velocity, etc. Today insurers need new ways to use this “big” data to serve society better by keeping up with changing customer behaviors & trends. New technologies emerged to help....

Cloud Computing / Strategy

Why a Cloud COE is so critical for a successful cloud strategy!

A Cloud COE is critical for a successful cloud strategy. I have seen cloud migrations fail because they lacked a COE that could champion those. If we look at its nature, Cloud is not meant to be tactical, in contrast, it needs a strong strategic alignment with the enterprise with long-term implications. Any cloud adoption brings in a slice of digital transformation with new operating models & reusability that impact the whole enterprise. Thus there is a cross-functional aspect to it, meaning it needs active support from other functional teams. Cloud implementation, when done in a silo, would be a...

NOSQL

PUCCA – A five-dimensional evaluation framework to choose which among DynamoDB, Cassandra & MongoDB suits your workload!

I was struggling despite tons of internet materials about how to choose among DynamoDB, Cassandra & MongoDB for my workloads, due to lack of a simple/concise set of guidelines, that I can keep handy & use when I need to. So I created this acronym as PUCCA to help ask meaningful questions for the right evaluation which of these databases suit the need. Performance – What are my latency needs? Is a primary key available either in full or part, or do I need alternate indexes or table scans? How my READs & WRITEs will spike, are those predictable or...

Cloud Computing

Serverless Cloud Computing: Tech’s unsung hero!

This article is about the technologies that ruled 2019, and the hypes & the promises. Five names that kept buzzing in my ears through 2019 in the sphere of technology are AI, BlockChain, Serverless Cloud Computing, Quantum Computing, & Robotics. The question is, standing today which of these have been truly game-changers, & which are hypes at least from a near to long-term perspective! I think serverless cloud computing got the better of the rest of them significantly if we truly reflect from a utilitarian perspective. In my mind, serverless computing where you do not have to procure & manage...