Analytics increasingly provide competitive differentiation for insurers and are at the heart of the industry’s transformation to a more customer-centric business model, according to “Data and Analytics in Insurance: The Dawn of a New Era,” from Strategy Meets Action.

“Analytics hold great promise for the insurance industry, including the application of traditional business intelligence approaches, as well as advanced techniques such as predictive models and Big Data,” said Mark Breading, SMA Partner. “The keys to success for insurers are improving data quality and data management, and creating a corporate culture based on management by analytics.”

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