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An SMA Research Report


Authors:

Mark A. Breading, Partner

Karen Pauli, Principal

Publication Date: July 27, 2017

Number of Pages: 13

Price: $995.00 USD

Business intelligence, advanced analytics, and data are integral to insurer’s success in the digital age. This report highlights how data and analytics have evolved by introducing an updated version of SMA’s Data and Analytics Spectrum. The field of analytics has matured and continues to advance with new types of capabilities, especially in the areas of big data, artificial intelligence and machine learning, and geospatial platforms. To aid insurers in strategies and planning for data and analytics, SMA has developed a major update to this Spectrum. This report highlights the updated Spectrum, shows new research data on how insurers are organizing for analytics and populating new roles, and provides recommendations for successfully leveraging analytics for competitive advantage.

Figure 1 highlights the 5 Key areas of the Spectrum and the business questions that are addressed by analytics. 

 20170727 SpectrumReport

 

 

Table of Contents

  • Analytics is Everywhere in Insurance 3
  • A Framework for Analytics 3
  • The Business Perspective
  • Technology Tools in the Analytics Spectrum
  • The Data Dimension
  • Maturity and Business Value 9
  • Organization and Roles 10
  • Organization
  • Roles
  • Conclusion and SMA Call to Action 12
  • About Strategy Meets Action 13