Insurers attempting to implement analytics programs face a variety of challenges beyond the technical, observed Ted Vandenberg, director of claims analytics and business intelligence for Farmers Insurance, at the 2013 Insurance Analytics Symposium in Boston last week. Not the least of which is that they simply don’t fit neatly into the top-down corporate structure that is so common at large insurers, he said.
“You may have more knowledge than anyone else in your organization and certainly the executives in the operational world,” Vandenberg said. “You are without peers in a big space. There are few people who understand the mathematics and even fewer who can manage the people who understand the mathematics. There’s a small mix of people turning this into a corporate function.”
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