risk management
Citigroup hires “Watson”Posted by RJ and Makay on Mar 06, 2012 |
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Watson, the IBM-developed supercomputer that was victorious against human champions of the game show Jeopardy last year, will soon be strutting its stuff in an advisory role on Wall Street. Citigroup Inc., the nation’s third-largest lender, became Watson’s first financial services client, IBM announced yesterday. In its risk management, portfolio and client role, Watson will analyze customer needs and process economic, financial and client data to grow Citi’s banking and investment services.
While the employment picture remains weak in most industry sectors across the U.S., several industries, including the insurance claims industry, are expected to rapidly expand in the next few years. Third-party administrator and claims adjustor positions are projected to grow 5.7% annually between now and 2016, according to industry research firm IBISWORLD.
Though March saw commercial property & casualty (P&C) rates fall yet again, the average decline of 4% was at least smaller than the 5% drop that occurred in each of the previous four months. Also, several lines of coverage — workers comp, property, business interruption, small commercial, general liability, and automotive — are showing a moderation of rate cuts, MarketScout reports.
