Under the Hood: Unlocking the Hidden Value in Insurance Data

Discover the secrets to P&C insurance success in the data-driven age.

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In a world where “Data is everything, and everything is data,” carriers need to leverage data better than ever before.

Every day, a staggering 2.5 quintillion bytes of data are being generated, collected, and harnessed worldwide. And 90 percent of this data, according to Forbes, has materialized in just the past two years. Meanwhile, the global insurance data market is experiencing rapid growth and is expected to reach $30 million by 2028. *

Within this data are hidden customer insights and business opportunities. But for this data to be valuable, you must be able to find the data you want when you need it. Then, turn this data into information and information into action.

But that's becoming increasingly harder due to the sheer volume and nature of data. Different kinds of data — transactional data from core business systems and the data collected through other sources (imagery, sensors, warning systems, telematics) — can be scattered throughout a business, making it challenging to marshal in a concerted way. So, while data is everywhere, the question is how do we bring it all together? How do we analyze and extract insights at scale to improve decision-making, create efficiencies, and provide better customer experiences?

In this e-book, we explore the unique data challenges P&C carriers face, how they can harness the data they have, share and leverage information internally and externally, and integrate insights into every step of the decision-making lifecycle — ultimately, optimizing efficiency, offering a better customer experience, and turning this unexcavated data into a goldmine of opportunities.

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Sponsored by ITL Partner: OZ Digital Consulting

ITL Partner: OZ Digital Consulting

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ITL Partner: OZ Digital Consulting

OZ is a global digital technology consultancy and software delivery and development partner founded to enable business acceleration by leveraging modern technologies I.e., Artificial Intelligence, Machine Learning, Data Analytics, Business Intelligence, Micro Services, Cloud, RPA & Intelligent Automation, Web 2.0/3.0, Azure, AWS, and many more.   

Our certified consultants bring a diverse array of backgrounds and skill sets to the table, leveraging the latest outcome-driven technologies and methodologies to address the unique, constantly evolving challenges modern businesses face. We accomplish this by supporting the digital innovation goals of our clients, keeping them ahead of the competition, optimizing profitable growth, and strategically aligning business outcomes with the technologies that drive them – all underpinned by decades of mission-critical experience and a shared culture of continuous modernization. OZ will work side by side with you to fully leverage our relationships with the world’s leading technology companies so you can reap the benefits of best-in-class implementation, integration, and automation—making the most of your technology investments and powering next-gen innovation.


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