New Data Visualization Study Findings Have Been Reported by Investigators at University of Technology Sydney (Natural Language Interactions Enhanced By Data Visualization To Explore Insurance Claims and Manage Risk): Information Technology – Data Visualization

2022 FEB 21 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on Information Technology - Data Visualization have been published. According to news reporting from Ultimo, Australia, by NewsRx journalists, research stated, “Claims analysis and risk management is key to avoiding fraud and managing risk in the life insurance industry. Though visualization plays a fundamental role in supporting analysis tasks in the business domain, exploring user behaviour remains a challenging task.”

Financial support for this research came from Australian Research Council.

The news correspondents obtained a quote from the research from the University of Technology Sydney, “The prevalence of natural language interactions enhanced with data visualization has become quite the norm. With the increasing demand for visualization tools and varying levels of user expertise, the use of a natural language interface (NLI) is common. However, the design of visual analytics tools enhanced by NLIs for risk management and claim analysis requires thorough task analysis and domain expertise. In this work, we investigate an alternative approach through a natural language interaction-based interactive visualization such as a chart, pie chart, or histogram, which can be used for insurance claim analysis and risk management. We design a new visual analytics solution named InsCRMVis which is enhanced by NLIs. We present an expert evaluation of InsCRMVis based on the Task Load Index questionnaire which is currently the standard metrics measure to investigate its usability (effectiveness, efficiency, satisfaction) to support human task performance. To evaluate its performance, we performed a user study of ten experts which suggests that InsCRMVis can provide better insights and assistance to insurance managers in reducing loss and guiding changes to insurance premium policies. Furthermore, we provide a concise set of guidelines that can be used when visualizing risk to avoid dangers in the insurance domain.”

According to the news reporters, the research concluded: “We discuss the challenges associated with the use of a visualization system in the insurance industry, focusing on aspects related to visualization research.”

This research has been peer-reviewed.

For more information on this research see: Natural Language Interactions Enhanced By Data Visualization To Explore Insurance Claims and Manage Risk. Annals of Operations Research, 2022. Annals of Operations Research can be contacted at: Springer, Van Godewijckstraat 30, 3311 Gz Dordrecht, Netherlands. (Springer - www.springer.com; Annals of Operations Research - http://www.springerlink.com/content/0254-5330/)

Our news journalists report that additional information may be obtained by contacting Guandong Xu, University of Technology Sydney Uts, Adv Analyt Inst AAi, Ultimo, Australia. Additional authors for this research include Md Rafiqul Islam, Imran Razzak, Xianzhi Wang and Peter Tilocca.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s10479-021-04465-7. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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