Will Predictive Analytics in Insurance Give Carriers a Competitive Edge?

Simplesolve17 Jul, 2021Technology

Data-driven organizations have a 23 times higher probability of using data to acquire customers than those who don?t. Insurance carriers have no dearth of data and what can set them apart is their capacity to mine their data for better insights. Here is the reality though, a study conducted by The Economist Intelligence Unit (EIU) of 200 banking and insurance C-suite leaders found that while there is strong confidence in the benefits that AI can bring, only 15% said that AI is used extensively throughout their organization.