The insider’s guide to data and analytics for Insurance organizations

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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:

  • What’s the TCO of physical work-arounds around claims? How do we avoid customer frustration, and errors?
  • Is there a risk of faulty statutory and/or unit stat regulatory filings?
  • What’s our customer attrition percentage? Do we have Customer 360?
  • Will claims fraud and underwriting leakage analysis be incomplete?

How do we conquer this disruption and move ahead? On May the 5th, follow the adventure of a leading regional carrier that leapfrogged into the future of information to attain competitive analytics advantage.

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About Aijaz Ansari

Aijaz manages Marketing at Saama. He breathes Digital Marketing. Coffee fuels him. At Saama, he is responsible for content, creatives and marketing platforms. He is an avid blogger and topics that interest him include data analytics, big data and SMAC. He is a big soccer fan too!


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