Data is booming throughout the insurance industry, but effective collection and analysis of that data is not prioritized enough in claims, according to Hopes and Hurdles of Tech-Driven Claim Operations, a recent survey from Towers Watson.
Seventy-two percent of 29 P&C claims executives surveyed said “effective implementation of data capture, metrics and analytics” was a primary challenge to the industry. That was second to “attracting and retaining top talent,” but only by 4%. Technology optimization was the most commonly identified secondary challenge, cited by just more than half of executives.
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