Predictive Analytics in Insurance: 2014 IT Vendor Spectrum

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20 February 2014


A growing proportion of insurers are looking for solutions that can help them make better decisions. Predictive analytics represent a key enabler: not only allowing insurers to better understand the past, but also providing valuable input to help anticipate the future.

In the report, Predictive Analytics in Insurance: 2014 IT Vendor Spectrum, Celent reviews IT vendors and their offerings. This report profiles 12 IT vendors and 16 predictive analytics systems and is not restricted to a specific geography.

“Insurers are focused on improving the basics of their business around crucial processes like sales and marketing, pricing and underwriting, as well as claims management,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and author of the report. “This research should serve as a guide to help insurers choose the appropriate solutions to meet their needs.”

Each vendor is profiled using the same structure, starting with a synoptic table presenting the company and its solution. Celent describes each solution’s offerings in terms of their customer base, data sources supported, functionality, predictive analytics, modeling capabilities, technology, implementation, and costs.

The vendors profiled in this report are: Boire Filler Group, EagleEye Analytics, Earnix, FICO, HUGIN Expert A/S, IBM, iGate, LexisNexis Risk Solutions, Pegasystems Inc., SAS, Valen Analytics, and Verisk Analytics. Although this list is not exhaustive, it provides a valuable sample of vendors that have already implemented solutions in the insurance industry.