To realize their full potential, analytics investments must be brought down from their ‘visionary’ pedestal and used to create a structured program of activities that can be monitored and measured, according to “All That Glitters is Not Gold: How to Build a Business Case for Analytics in Commercial Insurance,” a report from Xuber, an insurance software vendor.

“The use of predictive modeling solutions will enable insurers to more accurately predict customer behavior or trends, manage risks, improve fraud detection, reduce claims leakage, improve underwriting profitability and assist with product pricing,” Gartner said, as quoted in the report.

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