Predictive Analytics Gains in Insurance Industry

According to a recent survey, the use of predictive analytics is on the rise in the insurance industry.

Insurance providers are increasingly interested in data or analytics solutions to help manage producers and improve their performance, according to a recent survey.

Trilogy Insurance & Financial Services partnered with Insurance Networking News to survey more than 100 insurance industry professionals on the current state of predictive analytics in the insurance sector. According to the research findings, insurance providers have made investments in analytics tools over the year but are just beginning to realize the significance of technology to help manage provider performance.

The top three benefits of insurance companies' current data and analytics solutions are customer segmentation, improving the competitive advantage of insurance carriers and retaining existing insurance customers.