Property and casualty insurers have always masterfully commanded data and analytics in the daily course of their operations. Information, after all, is the cornerstone in building a successful business which must simultaneously identify real risks faced by clientele and profitably insure against them.
However, that is not to say that existing operational analytics are enough to improve underwriting results and create new revenue streams in the face of a tough economic climate, increased competition, shifting regulations, and lagging organic growth. For obstacles this challenging, property and casualty brokers must supersize their data and their analytics to overcome them.
Supersizing the effort is commonly referred to in technology circles as “big data.” The moniker is a bit misleading as this new line of analytics and data use has less to do with the size of the data than it does with the depth, breadth and precision of the data mining. And if there is anything of top importance to P&C brokers, it is precision in the analytical results.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
