Dax Craig

Most insurers are using some form of predictive modeling, but it can be difficult to know if it will remain effective over time.

The C-suite believes in the need for data analytics but will not invest in initiatives they cannot measure, manage and understand.

Having attacked certain areas, including auto, start-ups are now aggressively going after sales to small businesses.

To gain consumers' trust -- a huge challenge for insurers -- you must abandon the "black box" approach and become transparent.

Agents and carriers have a level of expertise that is unmatched by the Googles of the world, but it is in danger of being wasted.

In the face of the threat of possible new competitors, agents and insurers must cooperate on digital means for better engaging clients.

Insurers need to use better models and broader sets of data to avoid having rivals grab all the good risks and leave the bad ones behind.

With nontraditional competitors appearing and with Millennials changing the customer mix, working the market cycles is no longer enough.

Information asymmetry makes it difficult for insurers to determine who is a high-risk customer and who is low-risk, leading to rampant fraud.

<p>History tells us the winners will be those&nbsp;that are more progressive in using&nbsp;new operating models and tools, including advanced analytics.</p>