Data is a critical force for organizational success in the modern insurance enterprise. The challenge is how to get the quality data required, and then make the most effective use of it.
Not only is data a key driver for creating and improving core processes and products, but it is also a significant byproduct that can be used to improve business functions such as underwriting, pricing, financial analysis, claims handling and overall strategic planning.
Property-casualty insurers can minimize the uncertainty caused by the lack of available risk-cost information for insurance products by employing quality data and advanced analytic technology.
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