Data Analytics

Most insurers focus too much on the technical issues related to data and too little on the more strategic aspects, especially on embedding analytics into workflows. 

Despite a decade of digital transformation, the insurance ownership gap is widening across the industry and productivity has been flat. Here's why....

Evidence of the cloud's inherent strengths continues to accumulate, just as the perceived drawbacks and limitations of cloud technology are waning.

Merely personalizing the subject line in emails can yield an open rate of up to 50% (the average being less than 18%). 

Previously inaccessible data on customer insights, producer management and renewal optimization can improve a carrier's or MGA’s topline growth by up to 30%.

Many companies aim to be data-driven, shifting decisions away from human actors and trusting the algorithms. Instead, firms should be "data-informed." 

It would be impossible for insurers with thousands or tens of thousands of customers to fully understand each of them individually.

Most property risk models rely heavily on ZIP code. Yet, technology and data exist today to evaluate more than 1,000 risk data points for every single property in the U.S.