Data Analytics

For insurers seeking to accelerate their analytical innovation cycles and move ideas “out of the lab,” data discovery tools such as External Data Platforms are vital.

Most insurers are still spreadsheet-bound and, as a result, hard-pressed to make any progress outside of their spreadsheet environment.

While process improvements and innovations result from these spinoffs, they do not come without a host of technology challenges and considerations. 

A survey of hundreds of business leaders found 15% saying that moving to the cloud will be their biggest technology expense this year. 

Each spreadsheet tends to be an individual's version of truth and a snapshot in time. It's now possible to make data more timely and accurate and to use more advanced tools. 

Emerging risks affecting the reinsurance business present opportunities for analytics and predictive modeling.

Many P&C carriers say they will become more data-driven, and many of them have tried -- but the results can be much better.

Social media data provides insurers with an opportunity to gain insights into a customer's risk exposure in real time. But it comes with many challenges.