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Articles by Richa Pokhriyal -
What Is Data Mining and Why Is It So Important?
Data mining is a technique for sorting huge data sets. It helps in recognizing the relationships and patterns to resolve business problems. Data mining companies use tools and processes to help organizations in predicting future trends and forming decisions. The tools include powerful mathematical, analytics, and statistical capabilities whose chief purpose is to sift through huge volumes of data to identify patterns, relationships, and trends to support informed planning and decision-making.
Powering Digital Transformation for Insurers in 2023 and Beyond - The Age of Platforms
The innovative customer-centric InsurTechs and pandemic have accelerated digitization in the insurance industry. In fact, these have been one of the greatest catalysts in helping the sector keep up with the changing demands of tech-savvy customers who expect on-demand, transparent, and seamlessly connected services. Therefore, the need for digitization has given fledgling insurance technology companies the opportunity to refine their products and services and reimagine their core processes.
Avoid Data Decays and Boost Marketing ROI with Data Verification Process
Every business that aims to build greater market share, accomplish apex level, and achieve success has to consider many factors. Aspects like competent resources, latest business models, effective marketing strategies, fail-proof sales plans, commendable customer experiences, and so on contribute to its success. One of the important considerations among these factors is maintaining the accuracy and quality of data as it lays the foundation for a multitude of vital business functions and decisions.
A Comprehensive Guide for Image Annotation in Machine Learning
Machine Learning, an application of Artificial Intelligence, has given us such tech marvels that impact our daily lives. Computer Vision, an application of Machine Learning gives vision to computers. So, in the literal sense, Computer Vision is the ability of computers to ‘see’ the world around them, much as humans do. Image annotation is what unlocks the power of technology and makes this possible.
How to Streamline Data Collection with Fewer Costs and Hassles?
The lifeblood of businesses of all sizes across different industries and verticals—data is produced at an exceptionally higher rate. Whether communicating with customers, targeting marketing campaigns, tracking from advertising, or sales prospecting, data keeps flowing continuously. According to the recent Statista report, the total amount of data created, captured, copied, and consumed globally was 64.2 zettabytes in 2020.
How Insurance Agencies Can Leverage CRM to Improve Customer Experience?
A survey indicates that 89% of consumers are more likely to return if they get a positive customer service experience. On the other hand, 63% of customers are likely to leave a brand owing to a bad customer experience. These statistics reveal how important customer experience is for businesses. In this post, we will explore what customer experience is and how CRM for insurance agents can help businesses enhance it. What is Customer Experience?
Harness New Growth and Diversify Business Strategies with Market Research Function
Savvy marketers always reach out to their customers as they truly understand who their customers are, how they behave, and what they want. But the post-pandemic times have made this more difficult than ever. It hit the fast forward button on already changing customer behaviors and expectations; to which, there’s no hitting rewind. Or, let’s put it this way, the speed of customer change is outdoing brands’ ability to respond or adapt to it. Customers are the shapeshifters as they are changing faster.
4 Ways to Supercharge Decision-Making With AI-Powered SaaS
The scope of Artificial Intelligence (AI) is not limited to automating recurring processes — it influences business’s day-to-day decision-making across hierarchies. Today, organizations rely on AI-powered tools to capture data and make insightful decisions. Most of these solutions are powered by a cloud-based software delivery model popularly known as SaaS or Software as a Service.
How Automation is Shaping the Future of Claims Processing?
According to a McKinsey report, there is 43 percent automation potential for the BFSI industry. It is stipulated that in a few years, one-fourth of the task force in the insurance industry will either be consolidated or replaced by automation technologies. As such, insurers are now aggressively looking to adopt intelligent automation powered by technologies like Artificial Intelligence, Machine Learning, and Robotic Process Automation.
Here’s How Insurance CRM Can Drive Sales
Insurance agencies, irrespective of their size, can grow their business by discovering ways to boost sales or by branching out to new markets. To achieve the former, they implement insurance CRM systems. The right CRM system, when implemented correctly, enables agencies to showcase their full potential and increase sales.
What is Insurance Technology and how can insurers benefit from it?
Thanks to insurtech, a portmanteau of the terms insurance and technology, insurance businesses of today can enjoy a host of benefits. And this is only the beginning. As insurance technology redefining business paradigms and disrupting nearly all segments of the industry and its growth shows no sign of slowing down, a number of insurtech companies are popping up to help businesses leverage the power and potential of technology. What is Insurance Technology?
Busting 5 Common Myths Surrounding Insurance Software Implementation
Insurance software integrates and streamlines disparate business systems and creates a unified view of policies, processes, and customers. A number of insurance agencies across the globe are already enjoying the benefits of insurance management software. However, despite its growing popularity, myths concerning insurance software solutions and their implementation still exist.
Explore the Benefits of Leveraging Artificial Intelligence Development
AI is becoming common in many services and products. A large amount of data is trained and analyzed for the machine to understand. The machine identifies patterns and co-relations to make predictions about upcoming situations. AI development firms work with businesses to develop machine learning-based AI software development intended specifically for their needs. AI development firms offer counsel on how to implement machine learning in their organization or business.
Getting Started with Software Development Outsourcing
Organizations across various industries outsource a significant portion of their day-to-day operations to offshore partners. If we talk specifically about the IT industry, Software Development Outsourcing is the most desired service that organizations look at to address their resourcing needs. The need for outsourcing differs from company to company.
The Need of Progressive Web App & Comparison With A Native App
Extensive smartphone availability and better internet penetration have made online businesses flourish like never before. There was a time when brands ignored the steady increase in the number of mobile users. Today, this can not be ignored as mobile users account for 51 percent of total internet users. Companies today are leveraging mobile marketing to improve customer experience and boost conversions. The development of Progressive Web Apps is an important step towards this.
eCommerce Mobile App Development: Factors, Cost, and Features
Investing in eCommerce App Development can be a pathbreaking decision for online retailers and brick-mortar store owners. While websites are a good platform to build an audience base and get decent conversions, mobile apps provide much better results due to their convenience, portability, and in-app features. As per eMarketer, mobile e-commerce sales in 2020 were 70.4 percent compared to desktop spendings which was a mere 29.6 percent.
Taxi Booking App Development: Features, Cost, Tech Stack, and More
Taxi applications have become an indispensable transport facilitator for travelers and daily commuters. From corporations to startups, businesses are adopting taxi-based solutions to manage the fleet better and to offer convenience to a customer/employee. The demand for taxi apps can be learned from Statista’s latest report. According to it, the ride-hailing market will hit the $125,521 million mark by 2025 with an excess of 16.5 percent of CAGR from 2018 to 2025.
Revolutionizing Healthcare Delivery with Telemedicine Solutions
Telemedicine has become an integral part of the healthcare practice of hospitals today. The demand for telemedicine services has increased massively after COVID-19 happened. While before the pandemic, only 11 percent of consumers were used to telehealth services, by 2020 this number has hit the 46% mark. The rise in demand for telehealth services has led hospitals and clinics to adopt advanced...
Enhance the Customer Experience of Food Delivery Applications
From reserving a physical dine-out to home delivery, smartphone apps have brought about a massive shift in how people procure their favorite cuisines. At a time when the world is grappling with COVID-19 and people are following social distancing norms, food delivery businesses are observing the high inflow of orders. A food delivery application allows food businesses – restaurants, food chain owners and aggregators to reach a wider customer base and add an additional revenue stream.
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