A Bet That's Paying Off
From rudimentary automation and reporting to tapping into big data, the return on insurers' data analytics investments is proving a winning proposition.
October 1, 2012
It's become pretty obvious that you don't have to be a math whiz to appreciate what analytics can do for your organization. No longer a blend of technology and processes employed by elites to perform merely a single function such as thwarting claims fraud, analytics is now a true discipline for insurers aiming to measure, manage and respond to insights that affect both the back and front office. In fact, from enhanced risk management and product development, to fund leakage, to finding niche pockets of new business, analytics has emerged as a number-one priority for insurers, according to Lori Sherer, senior expert in the insurance practice at McKinsey & Company.
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