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The COVID-19 crisis has highlighted the need for operating-model change for the insurance carriers.
Many of the leading carriers are using data and analytics to become faster, leaner and more effective. One of the critical roadblocks to efficiency has been the legacy systems that form the backbone of actuarial and underwriting systems for insurance carriers. Insurers are increasingly operating in an environment where they need continuous access to different insights based on structured and unstructured data sources.
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