Data and analytics create a compelling competitive edge for insurance carriers irrespective of their volume. Unfortunately, for plenty of insurers, records are a ‘depreciating asset’ resulting in zero value if not properly controlled.
In line with the latest SMA’s Insurance Technology Priorities and Spending Report, more than 82% of enterprise and technology officials surveyed at North American coverage companies indicated that ‘data and analytics’ will be a priority for strategic funding in 2016. 74% of respondents indicated that they are centering in on core systems replacement. These initiatives have a shared purpose: a right to better information to power business value and top line growth .With legacy core system replacements, many insurance companies are confronted with the data conversion catch-22 regarding historical records. Recurring questions and concerns include:
The insider’s guide to data and analytics for Insurance organizations Print
Modified on: Tue, 9 Feb, 2021 at 6:00 PM
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