Insurers have many opportunities to leverage advanced analytics across the enterprise, including underwriting, claims and marketing. But without a solid foundation, analytics can overwhelm companies that have yet to get the most out of structured enterprise data.
The first step in creating an analytics environment is to define a data strategy, which is a major step toward data mastery and avoiding data mayhem. Many consulting firms offer information management and analytics expertise to help insurers build solid foundations for analytics and big data. Plus, a variety of insurance-specific data warehouses, analytics tools and predictive models also are available, as is third-party data, which is abundant and occasionally free.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access