5 Reasons Why Big Data Is The Smart Way Ahead For Insurance Distribution

The ever-changing challenges that the insurance industry faces, has made it imperative for insurers to leverage the powers of data and analytics. The valuable insights derived from analyzing data propel insurance companies to find a solution to business problems. Analyzing structured data related to policyholders, and unstructured data from different sources, including social media, aid insurers to analyze the risks involved in insuring an individual who has opted for an insurance policy. This is also necessary for deciding the premium to be charged.

In addition, Big Data and analytics have also profoundly affected customer insights, claims management, and risk management. Here are five ways Big Data has transformed the insurance industry:

1. Standing out in the crowd – The competition prevalent in the insurance industry makes it important for every insurance company to define and prove its efficiency over its competitors. This can be ensured offering their products at a lesser price, without compromising on impeccable customer-service. Big Data and analytics help insurers to simplify the business processes, and meet changing regulatory requirements.

2. Streamlining business processes – Big Data helps the insurers offer policy recommendations that not only suit the interest of customers, but also serve the best interests of the company. This is possible only through data analysis.

3. Get valuable insights on customers – As customer needs and preferences frequently change, it poses a constant challenge for insurance companies to keep a track of it constantly. Big Data aids insurers in understanding and predicting customer behavior, effective in customer acquisition and retention. This makes it possible for insurance companies to develop products to suit the ever-changing tastes of their customers and ensure smart insurance distribution.

4. Managing claims to identify fraud – The insurance industry often incurs heavy losses due to fraudulent practises, with almost $80 billion being the estimated figure for fraudulent claims. Predictive analytics helps insurance companies address the rise in such claims, analyze data from internal sources, and identify applicants with a greater propensity to resort to fraudulent practises. They can also use data mining to keep a tab on digital channels through social listening to detect fraudulent behavior.

5. Managing risk – Big Data and analytics help insurers in formulating policies, especially policies for natural catastrophes, keeping in mind policy conditions, historical data, and such other technical data. The process of insurance distribution becomes comparatively streamlined when insurance companies are able to decide on a catastrophe policy on the basis of accurate Big Data like the residential address, and other important factors, rather than merely the city or state. Big Data solutions can automatically update their pricing models for efficient insurance distribution.

The above factors perfectly highlight how Big Data and analytics serve as the root of insurance companies being balanced and its ability to keep up with the changing times.

Article Source: http://EzineArticles.com/expert/Nidhi_Vora/2278997


How to Reduce No-Shows at Your Medical Facility?

The most common reason behind these No-Shows is – forgetting about the appointment. It occurs mostly in the case of patients who have follow-ups after a long gap, say after a couple of months. Other reasons include domestic inconveniences and sometimes patients don’t feel they need to do the check-up and in some other cases, they feel the need to switch doctors.

But whatever may the reason be, no-shows are a huge concern because it reduces the productivity of healthcare facilities. Maintaining a personal relation with patients and educating them on the losses that hospitals have to incur as a result of patients not turning up for appointments can help reduce no-shows to some extent.

Why do healthcare facilities need to Reduce No-Shows?

Organizing appointments involves a lot of time and workforce. And the revenue of the healthcare facility is dependent on the number of consultations made every day. So when the required numbers of consultations don’t happen, it causes a huge loss to the medical facility, including wasting the physician’s time.

Apart from the monetary losses, no-shows also adversely affect other patients who were not able to get the slot on that particular day. And some healthcare facilities have visiting doctors who will be available only on certain specific days, so the no-shows in such situations cause more loss to medical care. This is the same for appointments made for certain medical tests such as x-ray, ultrasound and other crucial examinations.

Other than affecting the productivity of hospitals, No-Shows can damage the reputation of a medical practice and get them into legal trouble. When follow-ups are not done post a treatment such as surgery, the patient can, later on, sue the hospital if any complications arise stating that the doctor failed to diagnose it on time. Therefore to ensure a productive service to patients and to progress economically all medical practices need to take the necessary steps to reduce no-shows.

A lot of medical facilities charge patients a nominal fee for not showing up for their appointments, but this strategy does not create a good impression in the minds of patients because nobody likes being punished! And then certain facilities employ staff to call up and remind patients about the appointments. This is a suitable way to reduce no-shows, but it again costs money and workforce for the facility.

How a patient engagement framework helps to reduce No-Shows?

Patient engagement frameworks can reduce no-shows by notifying patients about their upcoming medical appointments. The effective way to reduce the no-show rate for healthcare facilities is by making use of scheduled appointment alerts. In several surveys and studies, appointment reminders have been proven to reduce no-shows, by a drastic 50 percent. Today appointment reminders have become very common and an integral part of a medical facility. Patients are so familiar with reminder alerts that they have now become dependent on it. Reminding patients not only reduces no-shows but it also makes the patient feel that healthcare facility cares about them. This helps to deepen the relationship between hospitals and patients.

A patient engagement framework ensures a greater patient attendance through –

1. Text Messaging

Everyone uses a mobile phone today which makes text messaging one of the best ways to remind patients of their hospital appointments. Text messaging is a simple yet very efficient way to reduce no-shows. Even when people are at work text reminders fulfil its purpose without being a nuisance. Automated text messages from Booking Social will save you money and enhance patient turnout

2. Reminder phone calls

Automated calls can ensure better patient attendance and save resources and time. With Booking Social’s automated voice reminders, hospitals do not have to use up their staff for taking care of appointments. This is very helpful on extremely busy days when you need all your staff to attend to other important work in the clinic. Another advantage of automated calls is that it can be made even during the evening when people are not at work. And this gives them the opportunity to change appointments immediately in case of any inconvenience.

3. E-mail reminder

Since e-mail reminders are also automated, it is also a cost-saving means for reducing no-shows. Since they can be delivered, automatically there is no need for utilising any staff. E-mail reminders have shown to reduce no-shows by around 35 percent.

A patient engagement framework allows patients to directly make appointments comfortably from home. And moreover, they can also make cancellations very easily through their smart devices without having to call up the medical facility. So they can schedule the appointment on a suitable day and time and at the same time make cancellations without much hassle. Such provisions reduce no-shows to a very wide extent.

Article Source: http://EzineArticles.com/expert/Bipasha_Lal/2311438


WOMEN: The Workplace Minority in Pakistan

Minority is referred to the smaller number or representation less than half of the whole. The term is so broad and is viewed in different contexts. Generally we label a group as a minority on the basis of religion. For example as in the case of Pakistan, People who belong to religions other than Islam are treated as minorities because they are less in number. Although it is not the only perspective to look for this concept yet it is the most frequent use of the term.

Generally there are different ways of describing a theory behind an underlying perspective either inductive or deductive. Sometimes you narrow down a broad problem area and then try of explain it. Sometimes the perspective is limited to a certain group and you generalize it on a relatively bigger number.

The human race in the world is divided into two; Man and Woman. Having different physical characteristics and different roles to play, they are not that much segmented the way they have become now. The programming which is done and is projected on religious grounds is devastating because it is not the religion it is the translator’s bias who make rules and policies to structure society. You cannot hunt all females like sheep with one stick. There is a difference.

It seems a huge propaganda of sex based division against women. This sex based division was efficient in terms of labor in the past where ‘HE’ (His majesty; The Man) was allowed to perform instrumental tasks and ‘SHE’ (The oppressed female) was supposed to handle expressive tasks. But the situation has changed now. The industrial revolution had challenged this social structure.

Earlier the oppression of women which was used to be done economically and was justified due to her lower physical strength is no more valid. But due to the reason that it is beneficial for men status and power, it still thrives in our society.

The shift of paradigms is desperately required. The generation of women that is the product of pre-industrial revolution having the older programming is confused with the changing circumstances and with their new generation. The older footings are not working and if you go along with what the world has to offer you, you can not hold on to the older programming. But the dilemma is that this new generation of females is confused that how to keep the balance.

This imbalance itself and the pressure of social structure creates a chaotic situation, putting this segment in the category of minority at the work place. It is not accepted as a fact actually. We have policies for women at workplace which negate this argument but the truth is that being a marginalized group these policies are never exercised by the females because of further oppression and threat of survival. So being a female the realization of this fact is horrible but still the acceptance gives you a hope to move on. A hope that, yes! You are not being recognized, the expectations are high at both ends, the programming is pre-industrial and the circumstances are post industrial but still this minority should turn into majority to clarify the roles and to modify the social structure which earlier made us a victim.

Article Source: http://EzineArticles.com/expert/Anum_Shafique/1281114


Mastering Manifestation

I definitely believe what we give out we get back. If we give out a positive, happy vibe, we will get more back to feel positive and happy about in our lives. If we give out a stressed out overwhelmed energy, we will get more back to feel stressed out and overwhelmed about. From a law of attraction / vibration perspective – we put out an energy (positive or negative), and then we therefore receive more opportunities that are either positive or negative (depending on what we put out). I have found that with the law of attraction, it’s not so much that we attract more positive or negative circumstances / opportunities, etc., it’s that we see more positive or negative circumstances / opportunities, etc. What we want is always there for us; we just don’t always see it because we’re operating at a lower more negative – as some say – vibration. I prefer heavier. Picture a denser, thicker energy, as opposed to a lighter energy. Negative thoughts carry a heavy energy.

So what does this mean for business – well say you have a financial goal you want to hit over the next 6-months. The way to make it happen is already there for you and your vibration needs to match each next step so that you can see it. Feelings of unworthiness or not good enough will block you from seeing it. It’s literally like turning on a light switch where you can suddenly see a world full of opportunities that are fun and exciting! What’s interesting is a lot of my clients end up seeing opportunities to take them to the next level that were literally right there the entire time, but they didn’t feel good enough to notice them. It’s such a great shift to witness.

I want to take this concept a step further though…

A lot of people get hung up on what they’re creating and why. So for example, if something someone perceives as “bad” happening in their lives, they start to judge themselves and wonder why they’re creating it. Why is that showing-up? This is for the people who recognize they are responsible for everything showing up in their lives – good or bad – and who are working on taking control of their emotions and what they are in fact creating so that they can create a life they love. The revelation though, is that they’re not creating anything good or bad. It just is. It’s us that assign a positive or negative value on things that happen. We’re taught through family, cultural and societal belief systems on what is right and wrong. We have assigned the value and created the rules. Our belief systems then dictate our perception. Our perception creates our thoughts and therefore our feelings about people / circumstances / events.

So what we’re really projecting and getting back is the thought about something, not the actual circumstance. Stuff is going to happen in life and business. It just will. So the whole “mastering of the law of attraction” thing, is not about creating the “perfectly positive” life. Whatever that is anyway. It’s about changing how we think and therefore feel about these situations. If we’re feeling negative, the most “positive” event could occur and we would find everything wrong with it. On the flip side, if we’re feeling positive, we can see the blessings and have gratitude instead for the exact same event. The event didn’t change, we did. So it’s really not about what we’re creating, it’s about how we’re seeing it.

We have a choice with everything that shows-up – we can react or respond, with sometimes the best response being no response at all (which involves being secure and confident with who we are). The more we “let go” of our attachment (rules and expectations), to these events / people / circumstances; the more we can neutralize our emotion. We therefore give out peace, and we see more and more peace around us regardless of what is happening in our environments. Even on the shittiest of days.

The truth being we can either respond with love and create feelings of expansion, or we can project fear and shrink into littleness. This in turn will dictate if we see more love or more fear in our lives.

If we truly believe we are bigger then our circumstances, that there’s more to this world beyond what we can see, and that we truly are unlimited eternal beings, we can let go a heck of a lot easier and realize most of this stuff doesn’t matter at the end of the day

Namaste xo

Article Source: http://EzineArticles.com/expert/Chris_Atley/249884


America, My Home

America, so true,
Your red, Your white, Your blue,

How can your children stray,
Knowing what others had to pay,

Answering duty’s call,
Where so many had to fall,

That documents signed by few,
Offer freedoms for me and you?

How easily forgotten, those words of long ago,
That set a precedent for life, that often we forego.

To satisfy today, the self centered path we walk,
Forgetting to stand for freedom rights, until we wake in shock.

That so few with an agenda, lobby their desires,
Knowing full well the attention of many, can be distracted by current fires.

Where is the voice of encouragement, that believes deep in it’s core,
That together we can join our forces, to protect our maiden shore?

Oh show me America where is the one, who cares for the rights of many,
Who will stand up for, “In God We Trust,” written on our copper penny?

Don’t get me wrong oh Country I love, I shall not shirk my obligation,
To vote for one who appears on a ballot, to lead our challenged nation!

I pray today that able bodied men, will take a stand for their beliefs,
That we all might experience more joy in life, and bring America fewer griefs!

I stand at your side look off to horizons, I have yet to personally explore,
Promising future Americans, together we’ll stand to protect your sandy shore.

So join with me in honor of, those who fought so long ago,
To provide for you and me, these Freedoms that we know.

Let’s bridge the gap of Party’s, stand for one and all,
Let’s keep focused on the importance of, America’s duty call.

Let’s join our hearts before disaster, wakes us from our slumber,
Where we realize the toll is great, when it calls out our personal number!

So as we view the colored flares, representing long ago,
The battles fought to “Let Freedom Ring,” let the whole world know,

This Nation joins together, even amidst troubles on our land,
And as a Nation we’ll learn to defend Her rights, by taking a voting stand.

Let not your heart grow troubled, by the one who wins the vote,
Remember the balance was set in place, by the Constitution that they wrote.

Just remember wrongs will always happen, and that we cannot change,
However, that which was wrongly set, can be positively rearranged!

So America the Beautiful, your current children stand in Awe,
Experiencing all those freedoms given, by the dreams those Patriots saw!

Vote for Freedom to remain in place, across these wondrous lands,
Let others know we defend our rights, as we join American hands!

Article Source: http://EzineArticles.com/expert/Cheryl_G_Burke/27676