Property-casualty companies that reject traditional business models in favor of the creative use of data mining and client segmentation will have an advantage in the coming years, according to a report published yesterday.
Innovative sales delivery and customer retention programs will also play a critical role in the new era, according to the study published by Mercer Oliver Wyman, the New York-based financial services consulting firm.
From 1985 through 2004, the p-c industry had a cumulative underwriting loss of $402 billion, and the return on surplus over the period underperformed the cost of equity by nearly 40 percent.
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