Data Lakes for Insurance Industry: Exploring Challenges and Opportunities for Customer Behaviour Analytics, Risk Assessment, and Industry Adoption

Molnár, Bálint; Pisoni, Galena; Tarcsi, Ádám

doi:10.5220/0009972301270134

Cited by 9 publications

(2 citation statements)

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“…In the case of a permissioned or private blockchain, the risks can be mitigated by maintaining the data protection regulation. To keep the risks at a low level, a concerted action of information security architecture and smart contract activities are required [72][73][74]. A permissioned or private blockchain ecosystem may be operated by a single enterprise or association of companies in a specific market sector.…”

Section: Gdpr and Related Legal Issues Of Privacymentioning

confidence: 99%

Blockchain-Based Business Process Management (BPM) for Finance: The Case of Credit and Claim Requests

Molnár

Pisoni²,

Kherbouche

et al. 2023

Smart Cities

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Because of the competitive economy, organizations today seek to rationalize, innovate, and adapt to changing environments and circumstances as part of business process improvement efforts. The strength of blockchain technology lies in its usage as an apt technology to enhance the efficiency and effectiveness of business processes; furthermore, it prevents the use of erroneous or obsolete data and allows sharing of confidential data securely. The use of superior technology in the execution and automation of business processes brings opportunities to rethink the specific process itself as well. Business processes modeling and verification are essential to control and assure organizational evolution, therefore, the aim of this paper is three-fold: firstly, to provide business process management patterns in finance, based on blockchain, specifically for the loan-application process in the banking industry and claim process in the insurance industry that could be used and customized by companies; secondly, to critically analyze challenges and opportunities from the introduction of such approach for companies, and thirdly, to outline how companies can implement the loan business process as a web service. Partner companies (a bank and an insurance company) formulated the potential requirements for M2P along with the application of blockchain technology. An experimental design framework was established that gave the necessary services to model the requirements, check the models, and operationalize the models. The applied research methodologies are as follows: design science research paradigm and software case study, model-to-programming (M2P) of business processes, and utilization of patterns of workflow and blockchain.

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Section: Gdpr and Related Legal Issues Of Privacymentioning

confidence: 99%

Blockchain-Based Business Process Management (BPM) for Finance: The Case of Credit and Claim Requests

Molnár

Pisoni²,

Kherbouche

et al. 2023

Smart Cities

Self Cite

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“…The Data Warehouse along with Data Lake in agriculture make it possible to support decision-making, and ground in durable, reliable, and trustable data analytics for the huge size of data both in real time and batch processing (see [63,64] in other sectors of the economy). The primary role of Data Lake in an enterprise environment is to yield the chance for data integration and reconciliation; the decisive role of Data Warehouse is to provide the opportunity to integrate data in a structured manner and format; moreover, it stores persistently and efficiently the original data in the fact table from the disparate modules of ERP.…”

Section: Enterprise Resource Planning Systems Data Warehouse/lake For...mentioning

confidence: 99%

Information Technology Drivers in Smart Farming Management Systems

Alexy¹,

Jung²,

Molnár³

2022

Smart Farming [Working Title]

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The chapter describes the possibilities of collecting digital data on crop and livestock production and their use in “smart farming” systems. Earth drone and spectral mobile mapping technologies can provide plant production-related measures with high temporal and spatial resolution. Remote sensing helps better understand farming patterns and crop management. Improving understanding of the link between remotely sensed data and risk assessment and management in “smart farming” is very important. Controlled-environment agriculture takes advantage of light recipes, related to spectral light-emitting diode (LEDs) and sensors. In livestock farming, analyzing a database of digital data on the environment and livestock individuals can help farmers make decisions better. The heterogeneous digital data from plant and livestock production are collected into a Data Lake. Then the data are processed to transform the data into the proper format for data analytics. Data Warehouse should be integrated into an ERP system that is dedicated to the agricultural environment.

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Data Management and Enterprise Architectures for Responsible AI Services

Pisoni,

Molnár

2023

Lecture Notes in Networks and Systems

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Data Lakes for Insurance Industry: Exploring Challenges and Opportunities for Customer Behaviour Analytics, Risk Assessment, and Industry Adoption

Cited by 9 publications

References 0 publications

Blockchain-Based Business Process Management (BPM) for Finance: The Case of Credit and Claim Requests

Blockchain-Based Business Process Management (BPM) for Finance: The Case of Credit and Claim Requests

Information Technology Drivers in Smart Farming Management Systems

Data Management and Enterprise Architectures for Responsible AI Services

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