While underwriting, claims and product development are the main areas of analytics usage for property/casualty insurers, a significant number are now using analytics to gain insights on customers, finance and operations, according to “Data and Analytics in Insurance: Property and Casualty Plans and Priorities,” new research by Mark Breading, partner, Strategy Meets Action.

On average, P&C insurers spend 9 percent of their IT budgets on data and analytics, and an equal amount is spent by business users coming from other departmental budgets, the study found; 75 percent of P&C insurers said they will increase their spending on analytics over the next three years.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access