Artificial Intelligence Working To Detect Auto Insurance Fraud

PARIS and BOSTON, Oct. 9, 2019 /PRNewswire/ — L’olivier – assurance auto, an auto insurer and French subsidiary of the English group Admiral, a European leader in automobile insurance, is joining InsurTech Shift Technology to fight against car insurance fraud.

Shift Technology (PRNewsfoto/Shift Technology)

THE IMPLICATIONS OF INSURANCE FRAUD

According to insurance magazine l’Argus de l’Assurance, in 2014 fraud represented 2.5 billion Euros in damages, only €219M of which have been recovered by insurers. Faced with such high figures, which are also on the increase, the aim of L’olivier is to rely on artificial intelligence and data science to automate and optimize the detection of suspicious claim files.

For L’olivier, a direct insurer created in 2011, it was important to reinforce its plan to fight against fraud by establishing a dedicated unit: “Shift will help us in building out our capabilities. Their solution improves our ability to detect fraud by reducing the number of irrelevant cases, at the same time as it enhances our ability to prove fraud by providing administrators with avenues of investigation, enabling us to avoid payment of fraudulent claims,” explains Janny Druon, head of the Claims Analytics team at L’olivier.

THE FIGHT AGAINST FRAUD: A VEHICLE FOR FAIRNESS AMONGST CUSTOMERS

The question of the insurance premium lies at the heart of the approach: “Fraud systematically increases the price of all insurance policies, forcing all policyholders to bear the costs of the behavior of a few fraudsters. At L’olivier, we are convinced that every policyholder should pay ‘a fair price.’ Fighting actively against fraud is a way of re-establishing fairness for our policyholders, something that is a central value in the culture of L’olivier. Shift will help us to carry on offering the lowest price,” asserts Pascal Gonzalvez, CEO of L’olivier.

Further, thanks to Shift’s Force solution, administrators know whether or not a claim contains elements of fraud in near real time. The algorithms and scenarios for detection offered by Shift speed up the time it takes to process the fraud investigation.

We are extremely proud of the collaboration between Shift and L’olivier, and of being able to fully commit to the values upheld by L’olivier. The implications of fighting against insurance fraud go far beyond the issue of the savings made by the insurer. First and foremost, it is a matter of customer experience and satisfaction. It is all about putting the policyholder at the center of the insurer’s concerns,” explains Jeremy Jawish, CEO of Shift Technology.

THE INSURER’S EXPERTISE COUPLED WITH THE AI OF THE SHIFT SOLUTION

L’olivier’s professional teams are already working closely with Shift’s data scientists in numerous workshops: it is the combination of the insurer’s expertise and Shift’s data processing capacity that makes the Force model unique. As well as the insurer’s data (claims data, contracts, survey reports, among others), Shift recovers and analyzes external information such as meteorological data, satellite images or even web data. These data increase the appraisal abilities of the AI model, thanks to the creation and balancing of new variables, allowing potential fraud to be reported in a very precise manner. “Shift is also capable of analyzing unstructured data, such as photos, invoices or experts’ reports, and of using Natural Language Processing methods to extract structured information which is useful for fraud detection,” Arnaud Grapinet, Chief Data Scientist with Shift, points out.

THE NEXT STEPS

After an initial calibration phase of the Shift solution in terms of the claims portfolio and data of L’olivier, by the end of this year the insurer will be able to automatically receive alerts for potentially fraudulent claims on a daily basis, sent directly via an intuitive, user friendly interface. But Shift’s support doesn’t end there: a data scientist dedicated to L’olivier is continuously engaged in improving the scenarios released in order to make them even more relevant.

ABOUT L’OLIVIER ASSURANCE AUTO
L’olivier – assurance auto belongs to one of the leading online insurance companies on the European market. Launched in France in 2011, it aims to shake up the market by offering both quality services and attractive prices, all based on each individual’s lifestyle.

This company, which is reminiscent of a start-up, is built on an integrated ecosystem (sales service, claims and customer service based 100% in France) and has been ranked every year since 2015 among the Great Place To Work list of companies in France that are good to work for.
https://www.lolivier.fr/

ABOUT ADMIRAL GROUP
Admiral is an insurance company established in 1993 in the United Kingdom which originally specialized in car insurance. In 2005 it revolutionized the market by offering Multicar, a unique product designed to offer better prices and make life easier for all of its customers owning more than one vehicle. Admiral’s product range diversified and the insurer now offers other insurance products, such as home, travel, animals, horse-boxes, etc. Admiral group, established in several international markets through its subsidiaries Admiral Seguros in Spain, Conte in Italy, L’olivier in France and Elephant in the USA, has over 6.5 million customers and more than 6000 employees around the world.

ABOUT SHIFT TECHNOLOGY
Shift Technology delivers the only AI-native fraud detection and claims automation solutions built specifically for the global insurance industry. Our SaaS solutions identify individual and network fraud with double the accuracy of competing offerings, and provide contextual guidance to help insurers achieve faster, more accurate claim resolutions. Shift has analyzed hundreds of millions of claims to date, and was named by CB Insights to the 2018 Global AI Top 100. For more information please visit www.shift-technology.com.

Contact:
Shift Technology
Rob Morton
Corporate Communications
rob.morton@shift-technology.com  
617-416-9216

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Datar Cancer Genetics Announces Positive Results With 42.9% Objective Response Rate, and 90.5% Disease Control Rate in Heavily Pre-treated Patients With Ultra-personalised Pan-cancer Treatment Protocol in the RESILIENT Trial

LONDON, MUMBAI, India and BAYREUTH, Germany, Oct. 9, 2019 /PRNewswire/ —

Datar Cancer Genetics Limited Logo

– RESILIENT Protocol captures Encyclopedic information from tumors and uses Artificial Intelligence (AI) to optimize treatments;

– Objective Response and Disease Control Comparable to or better than most Immunotherapy options;

– Unique Ultra-personalised combination of drugs already approved for cancer;

– RESILIENT Protocol commercially launched

Datar Cancer Genetics, a cancer research company, today announced positive data from the phase II/III RESILIENT trial intended to validate clinical benefit for cancer patients who have run out of treatment options under the present standard of care guidelines. The study achieved its primary and secondary end points of Objective Response Rate, Progression Free Survival and Disease Control Rate respectively.

Drug resistant cancers present a serious clinical challenge since there are virtually no treatments available and the prognosis is invariably poor. As a large proportion of all patients with advanced cancers ultimately progress towards this phase, life extending treatment options for these patients are urgently required.

The RESILIENT Protocol is designed to analyse all functional layers of a cancer cell i.e., DNA, RNA, proteins and germline genetics as also the chemoresistance/sensitivity of live tumour cells. This data is integrated through an Artificial Intelligence algorithm to derive treatment regimens which are most efficacious and yet show the least risk of toxicity.

RESILIENT is the world’s first and only prospective Precision Oncology trial where drug combinations were selected on multi-analyte integration. Most prior trials based on a single molecular alteration for drug selection had dismal outcomes. 143 patients started treatment and 126 patients were evaluable as per study criteria. All patients underwent PET-CT and Brain MRI scans prior to start of treatment to establish extent of disease. Treatment response was determined by follow-up PET-CT and MRI scans.

In the majority (90.5%) of patients, further spread of cancer was effectively halted. In 42.9% of patients, treatments also led to a significant decrease in the extent of cancer. Remarkably, among the 12 patients where disease progressed, no new metastases were reported in 9 patients. There were no serious treatment related adverse events or deaths. Most patients reported stable to improved quality of life.

The data of the RESILIENT Trial is published in the peer revived oncology journal ‘Oncotarget’ (https://doi.org/10.18632/oncotarget.27188)

“The RESILIENT trial marks a watershed moment for molecular oncology as it unequivocally proves that patients who have failed even 2 to 3 lines of treatment can benefit from already approved drugs if comprehensive tumour analysis is used to guide treatments. Patients in the United Kingdom and all over the world have much to gain from the outcome of this trial,” said Dr. Tim Crook, Medical Oncologist at the St. Luke’s Cancer Centre, Royal Surrey County Hospital, Guildford, UK, who is one of the authors of the publication.

Datar is a leading cancer research corporation specialising in tumour analysis for better diagnosis, treatment decisions, and management of cancer. Datar’s research initiatives are poised to bring about meaningful, patient-friendly and practice changing advancements in cancer treatment. Datar is also pursuing Adoptive Cell Immunotherapy for Multiple Solid Organ Cancers.

For more information please contact:

Dr. Vineet Dattadrvineetdatta@datarpgx.com

Dr Stefan Schusterdrstefanschuster@datarpgx.com

Datar Cancer Genetics – info@datarpgx.org

Related Links

https://doi.org/10.18632/oncotarget.27188

https://doi.org/10.1093/annonc/mdz268.061

https://datarpgx.com/encyclopedic-tumor-analysis-exacta/

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Majority Of Global Consumers Frustrated With Disconnected Experiences, 72% Willing To Seek Out Alternatives

SAN FRANCISCO and LONDON, Oct. 9, 2019 /PRNewswire/ — MuleSoft, provider of the leading platform for building application networks, today released a new global study that reveals four out of five consumers continue to receive disconnected experiences from organizations. As a result of this continued frustration, consumers are more willing than ever to seek out new service providers that can deliver connected, personalized experiences. Based on the findings from the Customer Experience and the Connectivity Chasm report, it is clear that organizations must deliver the connected experiences consumers expect or risk losing their loyalty and business.

MuleSoft (PRNewsfoto/MuleSoft)

“Globally, consumers are feeling the effects of data silos that create disconnected experiences,” said Simon Parmett, CEO, MuleSoft. “To meet consumer expectations, organizations must integrate disparate data sources to better understand their customers and make every touchpoint an opportunity to earn loyalty and add value. With the help of APIs and API-led integration, brands can position for future innovation, create more meaningful relationships and earn customer trust.”

Frustration with disconnected experiences continues
Globally 82% of consumers believe organizations in at least one of the five sectors surveyed – banking, insurance, retail, healthcare and public sector – provide a disconnected experience, failing to recognize preferences across touchpoints and provide relevant information in a timely manner. This figure indicates a lack of improvement in customer experience (81% in 2018) and is pushing consumers to consider new service providers.

  • Nearly three-quarters (72%) of global consumers would consider changing service providers in response to receiving a disconnected experience.
  • Younger consumers aged 18-34 years old are the least tolerant of disconnected experiences (78%) and are more willing to change providers compared to older consumers aged 35-54 (71%) and 55+ (70%).
  • Consumers in Singapore (87%), the U.S. (78%) and Australia (77%) are the most likely to consider changing providers as a result of a disconnected experience.

Consumers are conflicted with sharing data to fuel connected experiences
To receive a more personalized experience, 61% of global consumers would be willing for service providers in at least one of the sectors surveyed – banking, insurance, retail, healthcare and public sector – to share relevant personal information with partners and trusted third parties.

  • 79% of 18-34 year olds – millennials and generation Z – indicate they would be willing for providers in at least one of the sectors surveyed to share their relevant personal information with partners and trusted third parties to receive a more personalized experience.
  • However, more than half of consumers (53%) say they’ve become more wary about sharing personal data over the last 12 months.
  • In fact, only 42% of consumers think data protection legislation has improved how organizations use personal data.
  • Consumers in the U.S. (37%), Germany (37%), Australia (33%) and Japan (30%) were the least confident that data protection legislation has improved how organizations use personal data.

Across industries, consumers want organizations to nail the basics
The report shows that across industries, consumers’ expectations continue to evolve, but getting the
basics right is vital to maintain customer satisfaction and loyalty.

  • 80% of consumers say out-of-date or inaccurate data (e.g., inventory availability, delivery tracking information) would make them more likely to shop with an alternative retailer next time.
  • The most important factors in determining retail customer loyalty are cost (63%), the accuracy of inventory availability / real-time delivery information (41%), in-store customer experience (40%), and consistent experiences across in-store, online and mobile (36%).
  • More than a quarter (27%) of people have switched or considered switching their bank in the last 12 months in order to receive a better digital experience. This number is even higher (49%) amongst 18-34 years olds.
  • Consumers say that filing a claim with insurance providers is the most time-consuming (70%) and the second most complicated (40%) task.
  • 61% of consumers think that healthcare providers make effective use of the data made available to them (e.g., personal health data from wearable tech and apps) to deliver a better standard of care. This is a significant increase from 42% in 2018.
  • 73% of citizens polled feel public sector organizations lag behind the private sector when it comes to providing connected multi-channel services.

The Coherence Economy takes off among millennials
Consumers are starting to become more familiar with engaging multiple service providers through one application or experience. Common experiences like using a music streaming service via a ride hailing app and integrating multiple financial accounts into a planning app are part of the broader Coherence Economy – a new approach to customer engagement where multiple brands partner to add value through an ecosystem approach.

  • More than a quarter (27%) of global consumers say they often engage with multiple service providers through a single app or experience.
  • This number climbs to nearly half (49%) for 18-34 year olds, indicating millennials’ desire for these experiences.
  • Interestingly, consumers in the U.K. (21%) and U.S. (24%) are less frequently engaged in coherent experiences compared to those in France (36%) and Singapore (47%).

“Organizations must cultivate partnerships to surprise and delight consumers. In the Coherence Economy, organizations need to develop strategies to collaborate with partners in a digital ecosystem and orchestrate personalized experiences for consumers,” said Uri Sarid, CTO, MuleSoft. “In order to innovate at scale and accelerate the delivery of products and experiences to customers, organizations will likely need to leverage a majority of third party services. By leveraging an API-led approach to integration, brands across all industries can easily connect their applications, data and devices to provide a holistic view of the consumer and easily empower new, connected experiences.”

Research Methodology
This global survey was commissioned by MuleSoft and independently carried out by Opinium Research. The total sample size was 9,030 adults: U.K. (2,002 adults), U.S. (2,003 adults), Germany (1,000 adults), France (1,002 adults), Australia (1,000 adults). Singapore (1,010 adults) and Japan (1,013). Demographic split 18-34 years-old (2,084 adults), 35-54-years-old (3,410 adults) and 55+ years-old (3,536 adults). Fieldwork was undertaken online between 15-22 August 2019. The figures have been weighted and are representative of adult populations (aged 18+).

About Anypoint Platform
MuleSoft’s Anypoint Platform™ is a leading application network platform. It allows organizations to create composite applications that connect apps, data, and devices through API-led connectivity to form a flexible application network. Anypoint Platform is a unified, single solution for iPaaS and full lifecycle API management, both on-premises and in the cloud.

About MuleSoft, a Salesforce company
MuleSoft’s mission is to help organizations change and innovate faster by making it easy to connect
he world’s applications, data and devices. With its API-led approach to connectivity, MuleSoft’s market-leading Anypoint Platform™ empowers thousands of organizations to build application networks. By unlocking data across the enterprise with application networks, organizations can easily deliver new revenue channels, increase operational efficiency and create differentiated customer experiences. For more information, visit https://www.mulesoft.com.

About Salesforce
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360-degree view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

MuleSoft is a registered trademark of MuleSoft, Inc., a Salesforce company. All other marks are those of respective owners.

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SOURCE MuleSoft

Icertis Wins Industry-Leading Artificial Intelligence Award For AI Innovation in Contract Management

DUBAI, United Arab Emirates, Oct. 9, 2019 /PRNewswire/ — Icertis, the leading provider of enterprise contract management in the cloud, was named Best Application of Artificial Intelligence (AI) in Contract Management at the Ai Everything and Forbes AI Brave Awards. The acknowledgment underlines Icertis’ success in infusing AI in its category defining Icertis Contract Management (ICM) platform. ICM helps customers digitally transform how they manage their contracts worldwide and solve previously intractable contracting challenges with the transformative power of modern AI technology.

Icertis Logo

For the first time in history contracts are being digitized. With arguably one of the largest, varied and relevant contract repositories in the world with more than 6.5 million contracts representing more than $1 trillion of managed contract value, Icertis is using AI to turn these once-unstructured documents into live, strategic assets for its customers. In addition, with Icertis’ AI applications built on the ICM platform, companies can not only quickly digitize third-party contracts without manual review, but also analyze past negotiation history to gain insights for improvement, and unleash deep data visualization capabilities that provide unprecedented visibility into contract relationships and performance.

“We’re honored to receive this award from Ai Everything, an organization dedicated to working with innovators and companies globally to uncover ground-breaking solutions employing artificial intelligence technology,” said Monish Darda, CTO and Co-founder of Icertis. “Most recent applications of AI in contract management have focused on the legal aspects of contracts and clauses – we believe that because we deeply participate in the business process through contracts, we are uniquely positioned to unleash the transformative power of AI for our customers. And with the confluence of AI with distributed ledgers/blockchain technology, this paves the way for us to redefine this space.”

The data in the millions of contracts Icertis manages represents thousands of contract types and templates, and a taxonomy curated from hundreds of thousands of clauses – all mapped to customers’ distinctive semantic structures. The ICM platform leverages AI to better understand the meaning of clauses and to identify what contract language could pose risks or opportunities to the enterprise, creating value where there was none before.

“Icertis embodies the break through innovation this award celebrates. By deeply embedding AI in their platform, Icertis is providing unprecedented visibility into contract relationships and performance,” said Trixie LohMirmand, Senior Vice President, Dubai World Trade Centre. “The calibre and quality of our entrants was impressive, but Icertis stood out as a business that is continuously striving for innovation, exemplified through its cutting-edge solutions and approach to contract management challenges, which continue to grow in complexity.”

Hosted in association with Forbes AI, the Ai Everything Brave Awards celebrate the very best in AI adoption and innovation among top global companies; recognizing exceptional lab-to-live solutions, industry applications and pilot projects in AI. This recognition is the latest success for Icertis, and follows this year’s IACCM Innovation and Excellence award for ‘Outstanding Service Provider’ in EMEA, providing further evidence that Icertis is driving innovation within contract management. 

Ai Everything Brave Awards Dubai, 2019: Ai Everything is hosted by the UAE’s National Program for Artificial Intelligence with the support of global association partners International Telecommunication Union (ITU) and the World Intellectual Property Organization (WIPO), in strategic partnership with Smart Dubai.

About Icertis 
Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 6.5 million contracts in 40+ languages across 90+ countries.

Icertis Media Contact: 
Haley Flanagan 
Corporate Communications Manager 
Icertis 
CorpComm@icertis.com 

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Better Therapeutics Publishes Study Estimating the Health Economic Impact of Digital Therapeutics in Type 2 Diabetes and Hypertension

SAN FRANCISCO, Oct. 9, 2019 /PRNewswire-PRWeb/ — Today, Better Therapeutics, a company developing prescription digital therapeutics for the treatment of cardiometabolic diseases, announced the publication of its fifth peer-reviewed study titled Estimating the impact of novel digital therapeutics in type 2 diabetes and hypertension: Health economic analysis.

“Chronic diseases including diabetes and heart disease affect half of all adults in the US and account for nearly 80 cents of every healthcare dollar spent. Digital therapeutics that deliver behavioral interventions focused on lifestyle demonstrate potential benefits over traditional therapies like medications and surgeries that treat the effects of disease while leaving the causes in place. They can increase patient access because they are inherently scalable, continuously delivered, and have demonstrated both clinical and cost-effectiveness in diabetes and hypertension,” said Kevin Appelbaum, CEO and study co-author.

The economic analysis estimated cost savings of $145 per patient per month (PPPM) in diabetes, and $97 PPPM in hypertension. These savings are realized by addressing the behaviors and lifestyle factors that are the root causes of disease, reducing the ongoing need for prescription medications. The potential cost savings increases substantially (30-60%) in moderately severe to severe patient populations. The intervention would be cost-effective at total three-year program costs of $6,468 for diabetes and $6,620 for hypertension.

Read the complete study here.

“Our analysis concluded that Better’s digital therapeutics for diabetic and hypertensive patients may provide substantial improvements in patient outcomes resulting in lower health resource utilization and costs, mostly resulting from decreased need for medications,” said health economist and lead author, Bob Nordyke, PhD.

About Better Therapeutics
Better develops prescription software for treating cardiometabolic diseases. By integrating elements of neuroscience, lifestyle medicine, and artificial intelligence, the company has created a new modality for treating a broad range of conditions that share common root causes. The company’s digital therapeutics have been validated in peer-reviewed and published clinical trials. Better is commercializing its disease reversal program with health plans, while pursuing regulatory approval of its first prescription digital therapeutic for treating type 2 diabetes. The company is headquartered in San Francisco, CA, and is a member of the Digital Therapeutics Alliance.

SOURCE Better Therapeutics

IFS Lays out Blueprint for New era of Intelligent and Autonomous Enterprise Solutions

BOSTON, Oct. 9, 2019 /PRNewswire/ — IFS, the global enterprise applications company, today unveiled its evolved industry-focused architecture at IFS World Conference 2019 in Boston.

Faced with uncertainties driven by the pressures of digital transformation and threats of disruption, businesses around the world are in need of software vendors whose primary focus is on outcomes rather than exclusively on technology. Today, IFS demonstrated its outcome-centric approach by revealing its vision for how new technologies will be brought into its core application architecture and delivered to customers in context of their unique work and industry needs.

The evolved industry-focused architecture is scheduled for availability in 2020 and will be the new home to IFS’s entire portfolio of products across manufacturing, project management and service solutions. In essence, this new approach will allow customers to integrate enabling technologies such as internet of things (IoT), augmented and mixed reality (AR/MR), artificial intelligence (AI) and machine learning (ML) in pragmatic and focused ways so they can optimize, automate, predict and interact better across their business.

IFS has been evolving its technology foundations over an intensive and sustained period of engineering development. The focused work has encompassed model-driven declarative development, the intuitive IFS Aurena user experience (UX), and native API enablement of the entire set of capabilities. These enhancements will let IFS and its entire ecosystem innovate at a higher pace and deliver new functionality to customers faster.

Designed to ensure speed, elasticity, and choice, the evolved architecture is built for both cloud and on-premises using container technology and Kubernetes, which allows for running at hyper-scale in the cloud while ensuring portability across clouds and on-premise. It will provide data management and readiness that empowers customers to plug and play advanced technologies such as AI, ML and robotic process automation (RPA) with any solution set in the IFS offering.

At the IFS World Conference this week, in front of thousands of attendees, IFS previewed how these technologies play in reality: 

  • Digital twins and monitoring of assets
  • Real-time predictive maintenance planning
  • AR/MR-powered remote assistance for service and maintenance scenarios

By establishing an `evergreen’ approach, IFS gives customers the option to always be on the latest version of their applications without the disruptions that come with full-scale upgrades. This also provides customers greater visibility, predictability, control and flexibility in planning their own business development and adopting new capabilities from IFS.

“The blueprint my team has shared today is underwritten by a fully operational plan to deliver an open and scalable architecture to our customers with the right set of capabilities needed for their Industries,” said IFS Chief Product Officer Christian Pedersen. “For IFS, this has always been about architecting a core for our applications that would be fundamentally open and enabled. With today’s announcement, we are demonstrating that we are delivering on the promise of a core that has choice quite literally built into it, enabling our customers to benefit faster and easier for new and emerging technologies in context of their business needs and opportunities.” 

Learn more about IFS’s solutions at www.ifs.com/corp/solutions/.

To learn more about IFS’s technology foundations, visit www.ifs.com/corp/solutions/technology/

CONTACT:

Lyndsey Rojas
IFS Director of Communications
Phone: +1-216-339-9144
press@ifs.com

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Technomic uses predictive analytics to identify top menu ingredients to watch and help clients anticipate industry shifts

CHICAGO, Oct. 9, 2019 /PRNewswire/ — Technomic has provided the foodservice industry with trend insights, analytics and expertise for over 50 years. The company is now leveraging artificial intelligence tools by way of machine learning and natural language processing to create predictive tools for the foodservice industry. These tools will identify menu trends and help clients stay ahead of industry shifts.

Technomic uses time-series modeling to determine future menu trends. The predictive model also leverages historical menu trends, social listening tools and consumer sentiment to forecast how ingredients, flavors or dishes will trend in the coming years.

“Our analysts here at Technomic have always had these kinds of tools available, but now we’re taking our forecasting to another level,” explains Lizzy Freier, senior managing editor. “By elevating our analytics practices, we can be more forward-looking and confident in our predictions. Brands can use these enhanced resources to make more informed business decisions and position themselves as thought leaders.”

Technomic has shared a sample of its predictive analytics capabilities with a whitepaper showcasing 10 ingredients expected to have the highest growth in restaurants in the next two years. The whitepaper is available for download:  https://www.technomic.com/membership-programs/menu-trends

Technomic’s Ignite platform delivers the necessary tools and insights to support growth initiatives. In addition to its predictive menu features, Ignite offers company intel, consumer data and robust report libraries.

About Technomic

Technomic, Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking, as well as other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.

About Winsight LLC

Winsight LLC is a recognized leader in business-to-business media and information services for the convenience-retailing, foodservice and grocery industries. Winsight has an extensive media portfolio, including five publications: CSP, Restaurant Business, FoodService Director, Convenience Store Products and Winsight Grocery Business. Winsight also offers a suite of digital products, including websites, e-newsletters, webinars, video products, mobile and tablet apps, and custom marketing solutions. In addition to more than 12 major EduNetworking conferences and advisory meetings, Winsight also produces seven exclusive, large-scale executive-level conferences: Restaurant Leadership Conference, Global Restaurant Leadership Conference, Outlook Leadership Conference, Convenience Retailing University, FSTEC, MenuDirections and Restaurant Directions. In 2015, Winsight acquired Technomic Inc., a provider of primary and secondary market information and advisory services for the food industry. For more information on Winsight and its brands, go to www.winsightmedia.com.

Contact: Patrick Noone, (312) 506-3852, pnoone@technomic.com

 

Technomic Inc. Logo. (PRNewsfoto/Technomic)

 

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SOURCE Technomic

Compass Launches New Consumer Experience, AI Capabilities

NEW YORK, Oct. 9, 2019 /PRNewswire/ — Compass, the real estate technology company, today announced several new product enhancements bringing it closer to realizing its vision of a streamlined home buying and selling experience powered by the industry’s first end-to-end software platform.

As part of its efforts to empower consumers engaged in real estate transactions, Compass launched updates to its web and mobile search experiences, including:

  • AI-Powered Recommendations: Newly launched recommendation features—Recommended For You and Similar Homes—use Artificial Intelligence to deliver relevant listings to consumers who are searching across Compass.com.
    • Similar Homes displays relevant listings that are comparable to the listing currently being viewed, based on location, price, bed/bath count, square footage and other important features of the home.
    • Recommended For You displays relevant listings based on the users’ past search and viewing history.
  • Collections is a first-of-its-kind visual workspace that allows agents and clients to collaborate, discuss, and monitor the market in real-time on iOS and Android. Now with enhanced design, organization and new status update & comment features, it is a true game changer in the real-estate industry.
  • Listing Agent Transparency: Compass is the first company to display the true listing agent on every listing, regardless of brokerage affiliation, so buyers always get the information from the person that knows the most about the listing.
  • A Singular Dynamic Search Across All Markets: Compass users can now search seamlessly across multiple geographies, including across state lines. This allows users to search multiple cities, towns, schools and neighborhoods at once (e.g. a user searching the New York tri-state area can browse properties in Westchester, NY and Greenwich, CT at the same time).
  • Dynamic Map Search: Listing information now dynamically updates as the user moves the map and a larger viewing area allows for ease and flexibility.
    • Improved listing pins now clearly differentiate Compass listings (black) from other listings (green).
    • Users can more easily draw custom boundaries with a move of their mouse or swipe of their finger to find their perfect neighborhood.

Not only is Compass focused on a better consumer experience, they are also building a smarter experience. Behind the scenes, a 320+ person team of software engineers and AI scientists across New York, Seattle and Washington, DC are building predictive technology to help users find better homes, faster.

“AI and machine learning have revolutionized entire industries and real estate is no exception,” said Compass CTO Joseph Sirosh. “We have seen incredible momentum in 2019, including the addition of more than 200 engineers and AI scientists. With our significant investments and advancements in these technologies, Compass is redefining real estate by empowering both consumers and agents.”

Compass’ end-to-end platform makes it easy for users to find their perfect home on Compass.com, and work with a Compass agent to guide them through the transaction. Tools on the platform, including Collections, make it easy for consumers and Compass agents to collaborate.

“Compass Collections has been a game changer for my business. It makes collaboration with my clients so easy and efficient” said Compass Agent Jeffrey Saad. “I use Collections to curate houses for my buyer clients and as part of listing presentations for my seller clients. It is superb technology that is intuitive to use, saves me time, and makes the process of buying and selling a home easier and more efficient for my clients.”

These updates are part of Compass’ ongoing journey to improve the real estate experience for consumers and agents alike.

“The process of buying or selling a home is often thought of as daunting and difficult, and Compass is changing that,” said Compass Founder & CEO Robert Reffkin. “All of our software, tools and programs are designed to empower sellers, buyers and agents to have the best experience, and ultimately find their place in the world.”

About Compass
Compass is streamlining the home buying and selling experience by building the industry’s first end-to-end software platform. Founded in 2012, Compass combines the best technology and personalized service to power all real estate activities in 100+ U.S. cities, in service of our mission to help everyone find their place in the world.

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SOURCE Compass

US Vehicle Finance Market is Expected to Reach a Market Size of Around USD 1366 Billion by 2023: According to a Market Research Report by Ken Research

GURUGRAM, India, Oct. 9, 2019 /PRNewswire/ —

• It is expected that by the year ending 2023, financing towards new vehicles when expressed by credit disbursed would continue to lead the market share. Whereas, pre-owned car financing shall enhance owing to rising government initiatives towards the segment.

• Banks and Captives are expected to continue their dominance in the market in the future, owing to their vastly expanding dealership networks and vast variety of loan products offered.

• It is also expected that the spread of online lending models will continue in the future. Lead Generation, Online Lending, Loan Aggregation and Technology trends such as Blockchain, Artificial Intelligence and Fin-tech are expected to impact and disrupt the traditional indirect lending model in the market.

Ken_Research

The report provides a comprehensive analysis of the US vehicle finance market including market evolution, market overview, market genesis, market size and market segmentations. Extensive focus has been placed in quantifying the credit disbursed and auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, risk tier, type of vehicles, new and used vehicles and type of institutions), customer perspective in the market and snapshot on online lending ecosystem in the US. Competitive landscape of major lenders including Ally Financial, Bank of America, Capital One, Wells Fargo, Chase Auto Finance, Toyota Motor Credit, Ford Motor Credit, American Honda Finance Corporation, GM Financial, Nissan Motor Acceptance, Credit Acceptance Corporation, Santander Consumer USA and Pentagon Federal Credit Union. The report also covers future industry analysis (by credit disbursed and auto loan outstanding), future market segmentation, PESTEL Analysis, growth opportunities, up-coming business models, government regulations and analyst recommendations.

Technological Advancement in the US Financial Sector: Due to advances in technology and emergence of Fin-tech startups, who are leveraging their resources to improve the lending experience for the consumer, the market has become more efficient and competitive. Developments in financial technology has allowed for various improvements such as quick retrieval of documents, quicker transactions and customized services based on the customer’s preferences. Motor vehicle financing has become seamless, fast and transparent leading to improved operations.

Changing Mobility Scenario:  Consumers in the US are increasingly moving forward to accommodate newer models of mobility and are preferring partial ownership of vehicles instead of full ownership. Leasing and Car Rental are strongly growing operating models in the automobile industry in the US. This perception shift is forcing lenders to adopt new models and incorporate newer products in their portfolio offerings to consumers.

Analysts at Ken Research in their latest publication US Vehicle Finance Market Outlook to 2023 –By Banks and Non Bank Entities including Captives and Credit Unions and Finance Companies (Auto Loan Portfolio), By New and Used Vehicles, By Type of Vehicle Financed (Passenger Cars and Light Trucks), By Loan Time Period and By Risk Category believe that the US Vehicle Finance market demand is likely to follow a slight growth trend in the near future due to a forthcoming slowdown in light vehicle sales and a shift towards newer models of mobility such as car sharing and leasing. Some positive factors expected to impact the market, are the influx of digitization based lending models, the spread of customized loan products and a further rise in the penetration rate of vehicle finance. The market is anticipated to register a positive CAGR of ~4% in terms of AUM during the forecasted period 2018-2023.

Key Segments Covered

By New and Used Vehicle

  • New Vehicle
  • Used Vehicle

By Type of Vehicle

  • Passenger Cars
  • Light Trucks

By Lender Category

  • Banks
  • Captives and BHPH
  • Credit Unions
  • Private Finance Companies

By Risk Category between New and Used Vehicles

  • Super Prime
  • Prime
  • Non-prime
  • Sub-prime
  • Deep Sub-rime

By Loan Tenure between New and Pre-Owned Motor Vehicles and

  • Less than 3 Years
  • Three Years
  • Four Years
  • Five Years
  • Six Years
  • Seven Years or more

Key Target Audience

  • Existing Auto Finance Companies
  • Banks
  • Captive Finance Companies
  • Credit Unions
  • Private Finance Companies
  • New Market Entrants
  • Government Organizations
  • Investors
  • Automobile Associations
  • Automobile OEMs

Time Period Captured in the Report:

  • Historical Period: 2013-2018
  • Forecast Period: 2018-2023

Key Companies Covered:

  • Banks
    • Ally Financial
    • Wells Fargo
    • Bank of America
    • Chase Auto Finance
    • Capital One
  • Captives, Credit Unions and Finance Companies
    • Toyota Motor Credit Corporation
    • Ford Motor Credit
    • Nissan Motor Acceptance Corporation
    • GM Financial
    • American Honda Motor Corporation
    • Credit Acceptance
    • Santander Consumer USA
    • Pentagon Federal Credit Union

Key Topics Covered in the Report

  • Executive Summary
  • Research Methodology
  • US Vehicle Finance Market Evolution
  • US Vehicle Finance Market Overview and Genesis
  • US Vehicle Finance Market Ecosystem, 2018
  • US Vehicle Finance Market Value Chain Analysis
  • US Vehicle Finance Market Size, 2013-2018
  • US Vehicle Finance Market Segmentation, 2013-2018
  • Major Trends and Development in US Vehicle Finance Market
  • Regulatory Framework in the US Vehicle Finance Market
  • Snapshot on Digitization of Vehicle Finance in US
  • Customer Perspective in US Vehicle Finance Market
  • Competitive Landscape containing Company and Product Profiles in the US Vehicle Finance Market
  • US Vehicle Finance Market Future Outlook and Projections, 2018-2023
  • Analyst Recommendations for the US Vehicle Finance Market

For more information on the market research report, please refer to the below link:

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/us-vehicle-finance-market-outlook/252780-93.html

Other Related Reports:

Vietnam Auto Finance Market Outlook to 2023 – by Loan Tenure, by Type of Institution (Commercial Banks and Non- Banking Financial Institutions) and by Type of Vehicle (Passenger and Commercial)

The report provides a comprehensive analysis of Vietnam’s Auto Finance Market including market evolution, overview, genesis, market size and market segmentations. Extensive focus has been placed in quantifying the market size of this industry by credit disbursed, auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles and type of institutions) and snapshot on general automotive space in Vietnam. Competitive landscape of major players including Toyota Financial Services Vietnam, Bank for Investment and Development of Vietnam, Sacom Bank, Vietnam International Bank, Saigon Hanoi Bank, Tien Phong Bank and HD Saison have been extensively covered mentioning company overview, major business strategies, USP, car finance delivered, products and services, market share, strengths, financials and various other parameters. Value chain analysis has been given prime importance covering role & nature of major entities along with mentioning the major vendor selection criteria and pain points. The report also covers future industry analysis (by credit disbursed and by auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, upcoming business models, government regulations and analyst recommendations.

Vietnam auto finance market has witnessed continuous growth since 2014 and has constituted approximately 6% of the overall South Asian auto finance market in 2018. The market compasses similar trends fairly in-line with domestic vehicle sales market, qualitatively & quantitatively with banks and non-banking financial institutions being the major operating entities in the space. The market is currently in its growth stage.

Thailand Auto Finance Market Outlook to 2023 – by Loan Tenure, By Commercial Banks, Non- Banking Financial Institutions, Auto OEMs Captives; By New and Used Passenger and Commercial Vehicles

The report provides a comprehensive analysis of Thailand’s Auto Finance Market including market evolution, overview, genesis, market size and market segmentations. Extensive focus has been placed in quantifying the auto credit disbursed, auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles, new and used cars and type of institutions) and snapshot on general automotive space in Thailand. Competitive landscape of major players including Thanachart Bank, Bank of Ayudhya, Siam Commercial Bank, Ayudhya Capital Auto Lease, Kasikorn Bank and TISCO Bank have been extensively covered. The report also covers future industry analysis (by credit disbursed and by auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, upcoming business models, government regulations and analyst recommendations.

Thailand auto finance market played an essential role in the overall GDP contribution in the Thai economy. After witnessing a burst in 2015, the market is currently placed in its recovery phase registering a slow-moving growth rate. Major operations are conducted by three types of entities namely, banks & subsidiaries, captive finances and non bank financial institutes. Numerous new business strategies were adopted by major players including the launch of “Cash Your Car”, First Car Buyer Scheme, and Floor Plan Model with competitors indulging in maintaining extensive collaborations with luxury dealers like Volvo for product sales expansion.

Thailand auto finance market on the basis of total credit disbursed has expanded registering a CAGR of close to 4% during 2013-2018. The number of automobiles financed witnessed a CAGR of close to 6% owing to an increase in the household disposable income and more affluent middle class in the economy. Two-wheelers market experienced a growth with the rise in motorcycle demand fueled by Thai farmers. Growing consumer confidence index, constant prime lending rates, growing car sales and evolving used car market have been the major growth factors. In terms of total auto loans outstanding, the market registered a CAGR of almost 5% during the review period.

Philippines Auto Finance Market Outlook To 2023 – By Banks And NBFCs Including Captive Units (Auto Loan Portfolio And Motor Cycle Loan Portfolio), By New And Used Motor Vehicles, By Motor Vehicle Financed (Passenger And Commercial Vehicles), By Loan Time Period.

The report titled provides a comprehensive analysis of Philippines’ auto finance market including market evolution, market overview, market genesis, market size and market segmentations. Extensive focus has been placed in quantifying the auto credit disbursed auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles, new and used cars and type of institutions) and snapshot on general automotive space in Philippines. Comparative landscape of major banks including Metro Bank, BDO, Ps Bank, East West Bank, Philippine National Bank (PNB Saving Bank), Bank of the Philippine Islands, RCBC, May Bank Philippines Incorporated and others as well as the comparative landscape of major NBFCs including the Toyota Financial Services Philippines Corporation (TFSPH), MAFS, Unistar Credit and Finance Corporation, Radio Wealth finance Company, Asia Link Finance Corporation and others have been extensively covered. The report also covers future industry analysis (by credit disbursed and auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, up-coming business models, government regulations and analyst recommendations.

Philippines auto finance market has been identified in its growth stage. The auto finance market tends to align itself with the domestic market for automobiles. Given its relation with this huge market, the sector naturally plays an important role in the overall growth of the economy. During the last 5 years, the auto finance market has boomed as demand and supply for automotives was growing at double digits year on year. Lenders (supply side entities), in this period have evolved to provide a range of innovative products and services to further improve attraction and penetration of the market. There have been various factors driving the growth of the Philippines auto finance market by value as well as by credit disbursed. Some of these factors are the growing economy of Philippines, increasing motorization rate, increased disposable income leading to an increase in purchase of automobiles and the advent of web aggregators. Along with these factors, an increase in per capita income has led more households to own an automobile in Philippines.

Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions – Outlook to 2021

The report provides a comprehensive analysis of the car finance market in Indonesia. The report covers aspects such as the market size of the Indonesia Car Finance market segmentation on the basis of type of car financed, tenure of loan and type of financial institution. The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis of the Indonesia Car Finance Market. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, car finance providers, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Indonesia car finance market is in the growing stage. It is dominated by the unorganized players as they offer simpler documentation and convenient car finance options. The market has witness increasing use of technology such as simulation tools, online application and payment methods and others.

Contact Us:

Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249

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SOURCE Ken Research

TimeTrade Introduces Engagement Center, Reshaping How Leading Brands Bridge the Physical to Digital Divide

BOSTON, Oct. 9, 2019 /PRNewswire/ — TimeTrade, the leader in Intelligent Appointment Scheduling, today announced Engagement Center, the next-generation control center for managing appointment-driven customer engagement strategies. Engagement Center gives leading brands including retailers, banks, credit unions, and financial service providers the ability to rapidly deploy and configure appointment scheduling across any digital or physical channel — no coding required.

TimeTrade logo (PRNewsfoto/TimeTrade)

Today’s brands face rapidly changing customer expectations and fierce competition from online-only retailers. However, consumers continue to crave in-person experiences and interactions with knowledgeable employees, in addition to online interactions. TimeTrade research found that “94% of buyers agree that they buy more from a company when they have live interactions with a knowledgeable associate.” That puts pressure on brands to deliver flawless experiences anytime, anywhere for consumers who expect “right now” service.

“To succeed in today’s omnichannel environment, successful brands are reinventing the consumer experience, integrating online strategies with personalized in-store engagement,” said Miki Goyal, CTO at TimeTrade. “Brick-and-mortar locations need to complement the online experience, not compete with it. Smart technology, like Intelligent Appointment Scheduling, is key to achieving this balance and creating seamless, digital to physical experiences.”

TimeTrade is well versed in how to facilitate these experiences, delivering appointment-driven personalization for more than 500 enterprise brands, resulting in more than 8 million appointments per month. The intelligent platform fills a gap in the market by helping brands enrich their customer experience and gather key data to optimize their store experience.

To help brands deliver on their modern customer engagement strategies, we’ve created Engagement Center, the powerful control center for TimeTrade’s Scheduler Platform. Engagement Center enables users to manage, control, and configure all aspects of the customer engagement processes created with TimeTrade, including Intelligent Appointment Scheduling, on-site Queue Management, Event and Classes, and Next Best Action™ Analytics, all from a single responsive interface.

Engagement Center creates pre-scheduled human interactions on a massive scale and with great efficiency through an easy to access enterprise grade appointment scheduling platform that fully automates the scheduling process and intelligently produces “perfect” appointments by matching exactly the right provider personnel with the customer and their needs. The result is higher customer satisfaction and lower provider delivery expense.

Key Capabilities of Engagement Center include:

  • Real-Time Skill-Matched Online Appointments – all the tools brands need to create and manage AI-driven Intelligent Appointment Scheduling. As customer needs and behaviors change, administrators can easily manage appointment types, workflows, configurations, locations, appointment routing, and business rules.
  • Experiential Events and Classes – simplify event and class management and registration with local store scheduling and execution complemented by corporate controlled templates, event programs, branding, messaging, and customer notifications.
  • Omnichannel Customer Interactions – manage appointments, confirmations, rescheduling, and next-best-actions through all channels. Easily create customizable email and text notifications to keep appointments top of mind. Adjust the number of notifications, which stages in the appointment cycle they are delivered, and customize to fit your brand.
  • On-Location Queue Management – handle real-time customer flow for physical locations including bank branches and retail stores. Queue management tools optimize the on-site experience for both pre-scheduled and walk-in appointments while also providing visitors with accurate wait times based on the number of customers, employee resources, transaction type, and active appointment lengths.
  • Human Capital Inventory Management and Preferences – manage tens of thousands of personal calendars, skills, preferences and business rules. Focus staff by presenting them with the tools and information they need. Tailor user-based permissions in Engagement Center to only display administrative screens that are relevant to each user based on their role.
  • Powerful Analytics – gain deeper business insights into operational performance and customer experience. Track and report on Net Promoter Scores, marketing campaign performance, staff efficiency and more with valuable Next Best Action Analytics. Learn how many appointments have been scheduled, completed or missed, and review employee utilization to adjust staffing levels based on customer demand.
  • No Programing Required Admin UI – save administrative time with a new and more powerful, enterprise-grade user experience built for ease of configuration to expedite account management and eliminate wasted administrative hours.

“For years TimeTrade’s technology has helped leading brands reach consumers at the moments that most influence their decisions,” added Goyal, “resulting in higher customer satisfaction and growth. The introduction of Engagement Center gives TimeTrade customers a significant competitive advantage by delivering superior customer experiences at rapid pace.”

For more information on Engagement Center, read the blog or schedule a demo.

For more information on TimeTrade, visit www.timetrade.com.

About TimeTrade
TimeTrade helps leading brands optimize engagement through all phases of the customer relationship. TimeTrade’s Intelligent Appointment Scheduling platform harnesses the power of artificial intelligence to improve meeting scheduling strategies through real-time customer insights and actions, producing better meetings and higher growth businesses, with TimeTrade customers outpacing their peers by nearly 3X. Tens of thousands of businesses – including leading global banks, retailers, and software companies – use TimeTrade’s Appointments-as-a-Service platform to deliver the personalized attention expected by today’s on-demand consumers.

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SOURCE TimeTrade