analytics News
How Much Insurance Does an Insurer Need? Data Analytics Transforming Carrier ERM
Big data and analytics are driving a transformation in insurance purchasing decisions, and insurance company chief risk officers are among those being impacted by the wave of change. Carriers are ...
AIG, Clemson University Partner to Establish Risk Engineering and Analytics Center
American International Group Inc. announced that it has made an initial $4 million investment with Clemson University to develop a risk engineering and analytics center and to establish the Robert ...
Novarica: Big Data Not Yet Major Priority With Most Insurers
While big data is becoming increasingly important to insurers, it is not yet a major priority with most carriers, Novarica concluded in a new technology report. "Insurers have gotten somewhat more ...
Dollars and Sense: Risk-Based Pricing Helps Insurers Find Opportunities
Today, many insurers believe there is no bad risk—it just needs to be priced properly. As the market trends toward more analytic- and data-driven decisions, insurers are continually exploring ways ...
BMS Launches Severe Weather Analytics
BMS Group has announced a new weather risk management module as part of its iVision suite of analytical tools and services. The unique analytical tools allow carriers to better understand their risk ...
Powerful Predictions: How Much Is That New Insurance Customer Worth?
If you're like most carriers, your customer acquisition costs are increasing. Even before the policy is issued, you've likely spent a lot of time and money. According to a recent McKinsey report ...
Five Myths About Predictive Analytics You Can’t Afford to Believe
Predictive analytics has a relatively long history in the P/C insurance industry. From the early 1990s, when early adopters began to use predictive modeling for rating and underwriting, to more ...
Using Big Data To Improve Homeowners Insurance Products
There is no doubt that so-called Big Data is changing the way many companies do business. The volume of information being generated by web activity is growing exponentially and the technology has ...