Eighty-three percent of P&C insurers indicate that they will increase their spending over the next three years. The top three areas for investments in analytics, according to SMA’s data, “remain the risk-centric areas” of product development, underwriting and claims.

Seventy-five percent of the 126 P&C insurers that participated in the survey are anticipating an increase of spending as of last year, which indicates most industry participants increasingly view analytics as a competitive differentiator.

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