Data Analytics

Given the need for flexible and agile insurance product lines, the future of insurance lies in the adoption of SaaS systems.

Insurers have at their disposal incredible amounts of data, and powerful analytics can turn it into business intelligence better than traditional tools.

Insurers have an opportunity to shape the discussion on algorithmic fairness by demonstrating awareness of potential societal implications.

Insurers are already familiar with adverse selection. Now, they are getting to grips with the new concept of inverse selection that arises with big data.

Large and small carriers, in most cases, have inherently different business processes, capabilities and priorities due to their variance in size.

With the power of predictive modeling and its resulting efficiencies, life insurers can simplify underwriting, reducing both time and complexity.

SaaS 3.0 is all about precision in what is used, what is stored and how it is managed. This precision will give insurers real competitive advantage.

Datasets originating from third-party providers could enrich the insights insurers desperately need to offer accurate and timely quotes to clients.