Willis Towers Watson "three areas dominate insurers’ thinking: the customer experience; claim management; and applications of telematics data in pricing, customer selection and product design. That said, many companies are also targeting improvements in reserving, expense management and agency/broker management."
advanced analytics survey of U.S. P&C insurers’ attitudes states : -
Analytics is the key to better decisions impacting customer satisfaction, costs, margins, efficiency and effectiveness. The study identifies the top three hurdles obstructing progress:-
- Infrastructure/Data warehouse constraints
- Data Accessibility/not easily integrated
- Information Services Bottlenecks
Fortunately there are answers. Insurers have found a key to unlocking unstructured and siloed data; 360Retrieve
Not only that, these tools are embedded with a world-leading Digital Customer Engagement Hub.
Too often,analytics is a standalone application. Unless roles and personas across the organisation have embedded dashboards, visualisations and reporting in their day-to-day enterprise apps the benefits odf analytiucs will be limited.
Insist on embedded MI & BI for everyone that needs the insights to make and execute better decisions.
