Across the insurance industry, analytics has become the most heralded technology investment for insurance companies, wholesalers, brokers, agents, and other intermediaries. Yet, with soft market conditions, thinning margins, intensifying competition, escalating M&A activity, and rapidly evolving technology, making the right choices and investments is imperative for organizations in the insurance sector.
Not surprisingly, many insurers and intermediaries have opted to maintain systems that have long become obsolete before jumping into what they're led to believe may be the next generation of features and functionality. In this case, the mentality, "If it isn't broke, why fix it?" is not the issue. Rather, the issue is what to choose.
Selecting the right platform essentially comes down to assessing an organization's current and future information needs and matching them to today's technology offerings.
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