Data, AI, and cloud are growing areas of IT and business emphasis across the world. These trends are accelerating now especially as digitization and no-contact, no-cash transactions grow due to COVID-19. This survey focuses on data and analytics for Property and Casualty insurers in North America. A special question for COVID-19 was added to see how executives were thinking about their data, AI, and cloud priorities.
The objective of the survey presented here is to:
- Understand what is important to get value from data.
- Define key risks to realizing that value.
- Identify new types and sources of data.
- Identify new types and sources of computation and analytics.
- Learn how companies manage teams and organizational structure.
The report concludes:
- Data and analytics are a competitive advantage that makes it easier to do business, make better decisions, and know customers to improve the customer experience.
- The key challenges to the successful use of data include poor data governance, competing priorities with modernization efforts, and lack of a data-driven culture.
- Other findings are inside the report.
