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Analytic Strategy Execution – P&C Insurer Practices and Priorities

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25 May 2020
Marty Ellingsworth

North America Property and Casualty Edition

Abstract

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.
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