Without knowledge of analytical capabilities and their demands, insurance carriers can be thrust into an analytical black hole
Boston, MA (Aug. 17, 2016) – Analytical capabilities can define a company’s future success by supporting sales, preventing fraud, and creating the customer experience that U.S. insurance carriers strive for. Looking into the depths and evaluating one’s organization is never an easy task, but taking a step back to ensure the path has been paved correctly for a successful analytics journey is imperative in today’s competitive landscape. Carriers not willing to take this initiative will fall behind.
The Analytics Capabilities Countdown
Based on 24 interviews with U.S. life insurance and P&C insurance carrier executives and U.S.-based analytics technology vendors, this note will outline the current state of analytics for the insurance industry, identify the gaps preventing efficiencies and higher rates of return, and lay the foundation for building the organizational architecture for a successful analytics program. Its readiness model will help carriers learn where they stand and see what changes need to occur to successfully utilize more advanced analytical capabilities.
This 27-page Impact Note contains six figures and five tables. Clients of Aite Group’s Life Insurance, Health Insurance, or P&C Insurance service can download this report.
About Aite Group
Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, securities & investments, and insurance, Aite Group’s analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.
Source: Aite Group