The industry uses data to inform decision-making and manage growth and profitability across marketing, underwriting, pricing and policy servicing processes. (Photo: Shutterstock)
To stay competitive in a data-rich world, insurance companies are amassing vast amounts of data with the intent of optimizing performance, mitigating risk and meeting rising consumer expectations.
While companies may be aggregating more data, they also are facing challenges that may prevent them from harnessing the true power of analytics.
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