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Artificial Intelligence Technology

Do traditional industries employ machine learning?

Yes, and they use it to gather new business knowledge. We explain it to you in this simple example:

A machine learning startup called Second Spectrum created predictive models so that coaches could distinguish players with good shots and others who take bad shots and thus evaluate and correct the consequences in the middle of basketball games in the US.

Another example can be General Electric, a company that has a history of more than 130 years. This industry has made thousands of dollars processing data it collects from deepwater oil wells or jet engines to optimize performance, anticipate breakdowns, and streamline maintenance processes.

What’s Outside North America?

In Europe there are different banks that have changed the old statistical modeling approaches for machine learning techniques and in many cases, they were able to improve their numbers: they increased sales of new products by up to 10%, achieved savings of 20% in capital expenditures and even the 20% increase in cash collections.

How did they go about achieving all this? Through the design of new recommendation engines for retail and Pymes customers.

Are we close to machines replacing humans?

It is indisputable that changes as a result of the emergence of technology are coming and the data that is generated throughout the process is done with such speed that human participation has been moving aside.

However, in the coming years, we will see more of the use of Artificial Intelligence, as well as the development of autonomous corporations. Without a doubt, large companies will be able to carry out objectives autonomously and without direct human supervision.

If you want to revolutionize your insurance company with cutting-edge technology, this is your opportunity to work hand in hand with LISA.

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LISA Gateway Technology

The importance of the Interoperbility

In a world where we are connected at all times, it is extremely necessary for companies to change the way they operate and grow through technology and its multiple benefits that also fall on customer satisfaction.

That is why one of the words with great connotation and relevance within this entire revolution is interoperability, but what is it about?

Interoperability is the ability of information systems and the procedures they support, to be able to share data and allow the exchange of information and knowledge among themselves.

In simpler words, it is about the communication capacity that exists between different systems and different data, so that information can be shared, accessible from various environments and understood by any of these.

Based on this definition, we can mention that this promising integration capacity may be an important point to consider within the insurance industry, which has begun to leave its traditionality thanks to technology.

What could they achieve with this?

  • Guarantee a communication without barriers between all the actors associated with a traditional insurance company: insurance banking, startups, brokers, brokers and the end customer.
  • Increased customer satisfaction.
  • Improvement in the quality of the service.

All of this is possible thanks to the use of technological enablers, tools that allow digital transformation to be possible within any industry.

We invite you to read our article Know Everything About the importance of the Technological Enablers (Read Here). so you can complement this topic.

Visit our website and learn how we promote interoperability within the insurance industry with LISA Gateway.

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LISA Gateway Technology

Know everything about the impact of technology enablers

Technology advances at unimaginable steps, it doesn;t stop and is constantly evolving, offering advantages and improvements for any company that we can imagine.

The insurance industry, despite being one of the oldest, has already begun to realize that digital tools offer endless benefits for themselves and their policyholders, through a wide range of possibilities thanks to the technological enabler.

What is a technology enabler?

It is a tool that allows digital transformation to be possible within industries. To this are added enabling technologies, which are full of knowledge and have also been identified as inducing innovations in different economic sectors, which could lead to high disruptions in the next 15 years.

Technology enablers are characterized by having a high degree of R&D (in science, engineering or technology), faster innovation cycles, and physical innovations. They also have the ability to offer solutions that respond to the challenges imposed by users and the demands of today.

Know the main advantages of technology enablers

Interoperability: allows two or more systems to exchange information and connect with each other.

Automation: they replace mechanical jobs, which can harm the health of the operator or which simply take time to dedicate to more creative and functional jobs for Technology: Industry 4.0 (industrial automation and robotics, Artificial and computational Intelligence).

Cost reduction: By being able to optimize human resources and enjoy multi-task solutions and management.

Great operational capacity: thanks to the interoperability between various industrial value chains and its ability to improve connectivity between systems and their workers, achieving a good technology-worker combination.

At LISA we have a clear outlook, to provide the insurance industry with cutting-edge technology to improve its processes efficiently. In addition, we are committed to digitized processes and procedures that allow interoperability with various actors, representing a source of value for customers and valuable information for the insurance companies.

Get to know our technological enabler, LISA Gateway, and allow your company the technological integration between all the actors involved in an insurer: insurance banking, startups, brokers, brokers and the end customer.

What are you waiting for? Get LISA!

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Technology

3 characteristics that make digital ecosystems poweful

The birth of digital ecosystems is synonymous with a symbiotic relationship so that companies can relate to others in order to achieve greater value for them, more than they could obtain by themselves. There are many examples that we could mention, such as Apple, when launching the Healthkit app where its users share health and activity data, thus helping the world of medicine, hospitals and doctors, to inform about the patient in addition to carrying out studies, development of products, among others.

In this article, we will explain the three most relevant characteristics of digital ecosystems, which are key to understanding the risks and benefits they present:

1.Symbiotic integration: these arise from the fact that digital ecosystems authorize users to connect and interact with each other (an example of this can be a social network), and access through marketplaces, products and services from various providers. In the same sense, facilitating these connections is one of the main activities of the vast majority of ecosystems and that is why its value increases as the number of participants and their level of involvement increase.

2. Access doors: digital ecosystems play an important role as a kind of access door to products and services from other markets. An example of this could be application stores, which establish the conditions for creating and distributing messaging applications, mobile payment services or games. Sometimes they also serve as access doors to web search portals, where users access the media, electronic commerce or travel reservation services.

There is no doubt that digital ecosystems make possible a certain degree of control over other products and services, in addition to spreading into related markets, thus allowing the network to grow around consumers.

3. Big data: thanks to the services offered by companies, they can obtain a large amount of data about their users, which helps to improve the quality of services (for example, by personalizing their commercial proposals), thus developing new and better features. With this they manage to increase the participation of users and obtain new ones, collect more data and have a continuous improvement of their value offer, in addition to strengthening their position within the market.