Top 5 Use Cases at the Insurance AI and Analytics USA Conference - Pyramid Analytics

Pyramid Analytics participated in the Insurance AI and Analytics USA conference in Chicago, May 2-3. The conference aimed to educate insurance leaders on leveraging AI and ML to extract more value from their data. Many attendees expressed eagerness to do more with data, but also frustration, particularly around data access and the tools used for AI and ML insights.

To better understand attendee motivations, Pyramid Analytics asked two key questions: “What brings you to the show?” and “Where are you with your AI and ML initiatives?” Responses varied, but a common theme was the challenge of accessing data, with data silos persisting across organizations. Attendees also voiced dissatisfaction with current analytics tools.

The most common reasons for attending the conference were grouped into five personas:

1. 1.Data scientists looking for deeper access to data – Data scientists struggle with accessing data trapped within various departments. They seek solutions to bridge the gap between data and analytics to unlock business value.
2. 2.Executives from traditional organizations trying to understand the way forward – Many insurance executives have AI and ML programs but are unsatisfied with the results. They attended to learn how to extract more value from these initiatives.
3. 3.Sophisticated insurers seeking technology to gain an edge on the competition – Representatives from newer, early-adopter insurance companies, unburdened by legacy systems, were looking for new technologies and vendor partnerships to differentiate themselves.
4. 4.Data and technology vendors looking to build meaningful partnerships – Vendors sought insurance partners to help advance their businesses, either by enriching existing data stores or finding new data streams.
5. 5.Consultants promoting their unique approach to AI and ML initiatives – Consultants emphasized that successful AI and ML initiatives require more than tools, people, and processes; they need strategic direction and a roadmap for consistency and accountability.

Pyramid Analytics was one of the few analytics and BI organizations at the event. They engaged with attendees interested in their vision of an end-to-end analytics and reporting platform that leverages all data investments. There was significant interest in how their platform supports both advanced analytics for data scientists and everyday workflows for IT, executives, analysts, and business users. Pyramid Analytics aims to make analytics a universal experience and believes their platform uniquely supports enterprise needs.

If interested in learning more or seeing a demo, Pyramid Analytics encourages reaching out. They look forward to participating in future events.