Do you remember learning multiplication in grade school? It was probably a challenging experience, and it may have taken you a while to figure out that dreaded multiplication table. Yet, you didn’t fret because the teachers gave tools to help you learn this new skill. While some teachers taught skip counting or to find patterns in the numbers, we were all given flashcards.
Even the words flashcards can send chills up the spine of some adults to this day.
We sat there for an eternity flipping through these cards with a multiplication problem on the front and the answer on the back. Guess, look at the back, see if you were right, and divide into a pile of “got right” and “got wrong” and then go back through the wrong stack till it joined its brethren in a single mini tower of frustration.
For machine learning (ML), labeled examples are their version of flashcards. The standard technique teaches a machine to accurately recognize an object, picture, video, words, or any other sort of information you must provide labeled data to the machine until it can make better predictions. The more data feed into the machine, the better the prediction.
While this method works and has proven itself, it takes a significant toll on resources of computational time, staff cost, funding, and other resources that have made it impracticable on a large scale. A company can deploy a method called few-shot (FSL) learning can be used to reduce the burden on resources as well as create more robust predictions.
What makes FSL so important to ML is that it not only reduces the effort of data collection, data labeling, and computational costs but it also allows the computer to learn about rare cases (the computer can classify, i.e., a rare animal species that is rarely photographed with only a handful of prior information). The best (and most frightening) way to describe FSL’s capabilities is to say that it can learn like a human. Humans can spot differences in a data set (i.e., handwriting, pictures of dogs) with only a few examples, whereas the traditional ML approach required large amounts of data to spot any differences; with FSL, this learning time is reduced drastically, and a machine can learn from only a few examples to spot discrepancies.
FSL is considered a meta-learning model, which means the model learns how to learn to solve a given problem or “learning the learner.” This method improves a model’s results by changing the learning algorithm via experimental results. This meta-learning model helps researchers know which algorithms make the best predictions in a dataset.
FSL can be found in several applications that solve problems:
Computer vision- image classification, character recognition, object tracking, and others
Natural Language Processing- sentence completion (Gmail and Outlook email), text classification, and translations
Audio Processing- voice cloning (Siri, Alexa, GPS voices, etc.), voice conversions across different languages
Robotics- movement learning, visual navigation, etc.
Healthcare- drug discovery, disease diagnosis
IOT analytics and mathematical reasoning
This may seem a bit out of scope for insurance but consider the rise in smartphone apps that have taken over a role that was once a job for someone in the insurance space. We can now use our phones to take photos of the damage to our homes, cars, places of business and upload them to our insurance carrier’s claim app to start the claims process or even settle some claims in seconds. Trying to teach these ML models to spot all kinds of damages, verify the integrity of the photos, and make essential decisions would be an IT lift that would stagger most companies.
The advent of FSL has helped shorten the time to market for these capabilities and will continue to do so newer models such as one-shot and no-shot learning comes more common. While the increasing complexity of the insurance world becomes more and more digitized, the applications for these and other ML and artificial intelligence-based assistants will continue to grow to previously unimaginable heights in insurance and our lives.
https://cdn.riseprofessionals.com/wp-content/uploads/2022/03/28170657/Untitled-design-23.png9241640Tori Snoddyhttps://cdn.riseprofessionals.com/wp-content/uploads/2023/01/28161650/Rise-Redesign-Logo-Blue_Website-Header-250x250-1.pngTori Snoddy2022-03-31 14:16:002022-03-31 14:16:00Apparently You Can Teach an Old Machine New Tricks
Kimberly George Global Innovation and Product Development Officer Sedgwick
How would you describe your leadership style? Do you see it as different from your male counterparts?
Katie: I have a visionary leadership style, driving results and change by setting my vision and inspiring others to come along on the journey with me. I provided my teams the autonomy and empowerment to drive their own operations forward. I build trust with my teams by personally caring about them and their career development, understanding what motivates them, and fostering a collaborative work environment. As a woman, I do see my leadership style different from some male counterparts, as mine relies more heavily on interpersonal and empathetic skillsets to gain the trust and buy in of others.
Suvarna: I tend to use different styles of leadership based on different situations. I am in a technology leadership role that typically entails a planning exercise to identify the top priorities for our cloud platform in alignment with organization goals. In this scenario, I seek input from the team members to ensure alignment.This approach fosters intrinsic motivation and strong engagement and ownership from the team during execution.
When it comes to process improvement initiatives, I tend to be both a coach and player. I provide guidance for defining the process, getting the buy-in from stakeholders and following through on roll-out. I lead by example by setting the initial tone and then I let the team self-organize. In most cases, the team masters the process very quickly.
In a situation when there is a need for quick decision-making or solving something critical, I use a more directive style by assigning responsibilities. I find that my male counterparts also use different styles, but I have found them using the directive style a lot more often than me. Overall, I strongly encourage self-initiative and accountability while creating a collaborative culture to solve problems by working alongside my team thereby building trust.
Deborah: I hope that my team would say that I lead with trust and respect for their talents. I support their autonomy to make decisions within the scope of their responsibilities much more than I direct their work, and encourage relationship building with others who can also support them. I hesitate to generalize or ascribe merit to different leadership styles, but my observation is that my male peers prefer to exert more control and require more input into routine decision-making.
Kimberly: Through the years I have modified my leadership style to lead by influence. In doing so I have become much more aware of behaviors, attitudes, and opinions and their impact on the team and results. My style is collaborative, and I am focused on creating an inclusive, team-centric, approach. This involves intentionally bringing others into the team that did not have an opportunity previously. I also believe in communicating a clear vision and goal while allowing the team to modify and adjust to ensure success. When each team member feels they belong and understands the vision I find the collective is empowered and driven to succeed. As I evolved my leadership style and influencing others became part of my personal brand, my career trajectory advanced and more importantly people sought me out to join my teams and projects.
I find most leaders are less focused on leading by influence and more broadly focused on leading by authority. My male counterparts are more likely to have their “go-to” team to get things done. With that mindset the same people are called upon repeatedly and others lack opportunities and new experiences which broaden their skills. Whether women or men, I find many leaders fail to provide a clear and concise vision. Without the vision team members flounder and inevitably one person or a couple of people on the team will run with the project instead of the collective. Both scenarios result in slower decisioning, less innovation, lack of creativity, and a narrow view of the project.
How do you bring your authentic self to the workplace? How has that changed throughout your career?
Katie: I bring my authentic self to the workplace by having fun! My mantra says that if we are spending 8+ hours a day at work, we better have fun doing it! Opening up meetings with laughs, story sharing, or simply asking how someone’s weekend was, goes a long way. I am an active participant during collaborative sessions and I am not afraid to be myself and speak my opinion, a confidence that took time to develop in the earlier years of my career.
Suvarna: I bring my authentic self by acting on what I believe is the right thing. When I started off my career, there was a lot of learning, I was honest about what I already knew and what I didn’t. I was transparent about where my deliverables stand. As I grew in my career, being authentic translated to being a trusted advisor to my business partners. I earned a reputation of always stating the risks, issues, and mitigation strategies in a timely manner. I backed up deliverables with factual data and openly asked for feedback. In my current role, authenticity also translates to being empathetic and humble when working with peers and senior management as I am cognizant of the dynamics of relationships.
Deborah: I’ve always shared a fair amount of my personal thoughts and experiences with my colleagues during small talk and informal encounters, but I’ve also maintained a clear distinction between my work and family lives. In fact, I use different versions of my first name depending on whether the conversation is work-related or personal to remind myself to switch modes. It wasn’t until the pandemic forced a blurring of the lines between home and work that I fully realized the importance and value of authenticity at work. Maybe, because I tend to over-share, the transition was a bit easier for me to make, but I was humbled and grateful to witness members of my team open up in very personal ways that I’m sure made them feel uncomfortable. I definitely learned far more about the team-building power of trust, authenticity, and humility from my team than I could possibly offer them in return.
Kimberly: Bringing your authentic self to work is something I think about a lot and discuss with my peers and those I mentor. Mid-career I found that sharing my personal story inspires others and people relate to me in a more positive way. Prior to being more open about who I am, my career journey, and what drives me people often thought I was aloof or intimidating. Being relatable to others is important to me and partly why I am a nurse and it took me time to find balance with being my authentic self and a successful woman in insurance.
While I flex my approach based on my audience and believe that is likely the case for most women, I stay true to my values and guiding principles. What do I mean by that? My attire for a board meeting in New York is more formal than a board meeting in Los Angeles. My level of engagement will vary if I am the most senior person in the room, or not. I read my audience and may dial up or back my personality, as needed. For me, this is bringing my authentic self to work.
What advice would you give to women who are just starting their careers in the insurance industry?
Katie: Explore, set a plan of how to get where you want to go, and don’t be afraid to take risks!
Insurance is a complex industry employing a multitude of disciplines and skillsets. Take time to explore and understand the industry so you can find a path that excites and motivates you. From there, set a plan of where you want to go and how you’re going to get there, leveraging management feedback, mentorship and networking from those who’ve already paved the way. Don’t be afraid to take risks and go after challenging roles, as this is where you learn the most. And lastly, ALWAYS be your own advocate!
Suvarna: I would emphasize being self-confident and believing in oneself. Have a problem-solving mindset and be part of the solution. Raise your hand often to take on additional assignments to push yourself. Be persistent. The industry is constantly evolving, so stay curious and always keep learning so you can innovate. Be kind and respectful, but at the same time, stand up for yourself. Find a mentor whom you trust and who will coach you through your career. I constantly give the same pieces of advice to my young daughter who is a freshman at college, and I find that they apply regardless of where you are in your career.
Deborah: First, I’d congratulate them for choosing a career that is essential to helping people navigate through adversity and offers endless opportunities for lifelong learning and career growth. I’d tell them that they’re part of an industry that is undergoing an essential transformation to being far more diverse and inclusive for women, and in every sense of those terms. Most importantly I’d tell them to seek out the many highly successful women in this field who are inspired to help the next generation, and to make connections early and often.
Kimberly: Believe in yourself. We all question, can I do this? Know that you can do it, you deserve it, and be flexible to take the next opportunity even if it might not be the opportunity you thought would come your way. Be open to meeting others and seek out opportunities to do so. Networking is important for everyone in the industry and certainly women entering the insurance industry. Find your sponsors, those who will support you when you do not know it, those who will help you learn, grow, and get to the next level. Be open to mentors who will be your cheerleader, give you the tough feedback, and the advisor you need for the given scenario. Always stay inquisitive and learn as insurance is an industry that is continually evolving.
