Accenture's Michael Costonis recently revealed the results of an industry survey that finds insurers are still getting their feet wet with analytics. Costonis points out that, for the most part, big data analytics is still a tactical play for insurers, versus a strategic initiative. Accenture's survey finds only about 17 percent of insurers said they routinely use analytics as part of an integrated, enterprisewide approach.
In its industrywide survey on the topic, Accenture finds that insurers actually have an edge over other industries when it comes to big data, but aren't taking advantage of it. While 36 percent of insurers (compared with 20 percent of the total sample) have the resources and ability to use analytics, they apply them in tactical — rather than strategic — applications.
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