Predictive Models: The Real Impact
What kind of impact has predictive modeling had on profitability, loss ratio and rate accuracy?
INN Breaking News, May 6, 2014
P&C insurers have increased their use of predictive modeling in almost every line of business. However, most do not apply data-driven analytics uniformly throughout the enterprise, and usage fluctuates significantly by line of business and company size, according to Towers Watson's fifth annual "Predictive Modeling Survey." Predictive modeling has helped improve insurers' bottom lines, Towers Watson says; the effect on top-line results has been less significant.
All Insurance Networking News articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, e-books, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.