An SMA Research Report
- Author(s):
- Mark A. Breading, Senior Partner
- Denise Garth, Partner
- Publication Date:
- June 18, 2014
- Number of Pages:
- 26
- Price:
- $995.00 USD
This SMA report explores both the current state and future plans for data and analytics in the property and casualty 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: P&C Insurer Strategic Priorities and Operational Plans for 2014 and Beyond 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 hazard, telematics, 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 P&C insurers today.
Table of Contents
- Executive Summary 3
- Business Intelligence/Analytics Adoption and Projects 5
- Data Sources and Data Management 16
- SMA Call to Action 21
- About the Research and Strategy Meets Action 23