![]() ![]() Anything and everything that you can do to understand that at its core will give you a significant competitive advantage. Getting that right is absolutely critical in your ability to achieve margins down the road. In insurance, you're trying to predict your cost of goods sold at the point of sale. Murli Buluswar: The core challenge for the insurance sector is similar to some of the financial services. Where does data science fit into the insurance industry? You can also watch the entire episode and read the complete episode transcript over at the CXOTalk site. To learn more, check out the short video above and read the edited transcript below. Tianhui Michael Li, CEO of The Data Incubator and former data scientist at FourSquare ![]() Murli Buluswar, former Chief Science Officer at insurance giant AIG and currently Senior Executive Advisor with the Boston Consulting Group.The discussion included an outstanding exposition of the broader business context and value of data science, so we pulled it out as the short, standalone video embedded above. On episode 259 of the CXOTalk series of conversations with innovators, I invited two experts to examine these issues and talk about data science in financial services and insurance. Making effective use of data science demands a different kind of thought than traditional analytics even a culture shift, so it's hard for established organizations to adapt quickly. Insufficient talent and resources to create models and set up analyses that can best serve users and customers.Aggregating useful data can be expensive and time-consuming. ![]() Without historical or other data, machine learning has little value.
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