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The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an intern at State Farm. I completed a project that was a massive data entry job and made it into a

The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an intern at State Farm. I completed a project that was a massive data entry job and made it into a process that took clicking three buttons to finish. Although just one example, it was clear that State Farm as well as the insurance industry in general are not utilizing automation and machine learning. The adaptation of automation and machine learning will have internal and external benefits for insurance companies like increased efficiencies in business processes and increased customer satisfaction. However, to realize these external and internal benefits, companies, like State Farm, must implement an adhocratic culture where risk taking is incentivized, and companies must invest resources into their underwriting processes, rather through internal investment or an acquisition, to automate the process.

ContributorsKindopp, Archer Orvin (Author) / Bryne, Jared (Thesis director) / Schiller, Christoph (Committee member) / Department of Finance (Contributor) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

ContributorsStephens, Corey Christopher (Co-author) / Dicke, George (Co-author) / Anand, Rohan (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

ContributorsAnand, Rohan (Co-author) / Dicke, George (Co-author) / Stephens, Corey (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05