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An SMA Research Report


Authors:

Mark A. Breading, Partner

Denise Garth, Partner

Publication Date: October 23, 2014

Number of Pages: 25

Price: $995.00 USD

This SMA report explores both the current state and future plans for data and analytics in the life and annuity industry in North America. The report addresses insurers’ business and IT priorities and plans for leveraging data and investigates how business intelligence and advanced analytics are being applied for both strategic and operational advantage. This is the third annual study and was conducted in conjunction with ACORD.   

Data and Analytics in Insurance: L&A Insurer Strategic Priorities and Operational Plans Through 2016 answers the following questions:

  • Which parts of the business are leveraging analytics today? In which types of new projects are insurers investing?
  • Which types of analytics tools and approaches are gaining favor with insurers?
  • How are insurers dealing with new sources of data – including wearables, customer purchasing data, and social media data?
  • What are insurers’ spending plans for data and analytics?

Figure 1 illustrates the top project areas where analytics are used by L&A insurers today.

 

20141023 Data and Analytics in Insurance LA

 

Table of Contents

  • Executive Summary 3
  • Business Intelligence/Analytics Adoption and Projects 5
  • Data Sources and Data Management 16
  • SMA Call to Action 20
  • About the Research and Strategy Meets Action 22