The Dai-ichi Life Insurance of Japan and IBM have started a joint research program to utilize IBM's new semantic analytics technology to increase the agility and transparency across Dai-ichi's business processes.
The new business analytics technology called IBM semantic analysis solution analyzes massive amounts of data found within daily event logs to detect performance and quality issues before they become disruptive.
According to the IBM, the project with Dai-ichi Life is a joint research project in the insurance industry that uses ‘IBM Semantic Analysis Solution for Process Optimization’, a research program of IBM Research.
Mark Lewis, general manager of global insurance industry at IBM, said: Dai-ichi Life dramatically re-engineered back-office payment processes using IBM’s semantic analysis technology to drive increased efficiencies, while reducing costs. This move will ensure the firm’s long-term sustainability, profitability and economic competitiveness.