Big data is making a huge impact on the insurance industry and fueling this red-hot talent market. As an insurance industry megatrend, analytics impacts every aspect of an insurance organization: IT, claims, underwriting, marketing, actuarial and even human resources. Executive SummaryStrong executive sponsorship of data projects and initiatives, often by leaders in the C-suite, is helping some property/casualty insurers win the race for analytics talent, says Margaret Resce Milkint of The Jacobson Group. She explains why such sponsorship is meaningful to qualified job seekers and provides other recommendations for employers seeking to attract potential candidates for analytics roles.
In IBM’s latest big data study (register here to view the study), 74 percent of insurance companies reported that the use of information and analytics is creating a competitive advantage for their organizations, compared with 63 percent of cross-industry respondents.
Insurance organizations are using analytics to do more than just differentiate themselves. They are taking advantage of big data to build their brands, enhance profitability and gain a competitive edge in the marketplace.