The insurance industry is constantly changing to accommodate complicated new regulations and a changing competitive landscape. Yet while there are more technological innovations available than ever before to minimize risk and maximize profitability, hazardous manual processes still permeate the industry's business practices.
Spreadsheets, for example, are widely misused for relatively sophisticated activities. Most companies underestimate their reliance on using these tools to run their insurance programs.
Even with their ease of development and deployment, managing vast amounts of data without error or consequence is very difficult with spreadsheets because they are a modeling and reporting tool, not a business system.
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.
