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June 17 2013 | Mark Breading

Boston, Massachusetts, June 17, 2013 – Strategy Meets Action (SMA) has just released a new research report – Data and Analytics in Insurance: Life and Annuity Plans and Priorities for 2013 and Beyond. This report covers objectives, focus areas, project plans, and spending for L&A insurers.

An overriding theme in this research is that life and annuity insurers (L&A) have significantly increased their focus and investment in data and analytics over the last year. Viewed as a competitive differentiator by most industry participants, eighty-seven percent of L&A insurers indicate that they will increase their spending on analytics over the next 3 years (up dramatically from 67% in the 2012 study).

L&A insurers are investing in data and analytics to gain new insights that support business decisions and customer interactions, leading to improved results. The respondents are especially keen to get insight into real-time cross-sell/up-sell and renewal/retention triggers, and have identified these as their two most valuable customer insight areas.

For the complete report, visit www.strategymeetsaction.com/our-research. A companion report for the property and casualty segment was published in May 2013. Insurers, IT providers, and media who are interested in learning more about SMA’s data and analytics research and advisory services should contact Mark Breading at mbreading@strategymeetsaction.com or 614.562.8310