Integrated Analytics Delivers the “Why” Behind Recurring Roadblocks
Chief Technology Officer and SVP Engineering, 1insurer
Director, Business Intelligence and Analytics, American Family Insurance
With the insurtech revolution in full swing, it would be easy for insurers to get distracted by “shiny objects” which promise to deliver more insights through machine learning, or provide some kind of magic silver bullet. Today, most insurers use analytics in the most basic of ways, such as to identify pockets of potential new business, upsell and cross-sell opportunities, and to flag top producers or potential workload redistribution that is necessary.
In spite of widespread analytics solution implementation, insurers often still fail to fully-utilize the potential of analytics solutions and instead conduct business handicapped by a patchwork of disjointed systems and processes, making it difficult to identify the cause of common problems. By seamlessly integrating analytics tools with core systems, insurers can stop looking for insights in pretty pie charts and mash-up reports from siloed systems and start proactively solving problems based on truly actionable intelligence. When the “why” behind recurring roadblocks can be sussed out, operational effectiveness can be improved and analytics becomes the driver of driving dramatic change.
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