The U.S. economy is always top of mind for property/casualty insurers—particularly when it remains sluggish for two or more years—but there are other issues for carriers to address if they want 2011 to be successful.
Ernst & Young, in its 2011 outlook, lists six key issues for insurers to address. Leading the way for IT leaders is predictive analytics.
"There's a lot of information available out there particularly around individual customer behavior," says Jay Votta, principal in the insurance and actuarial advisory service for Ernst & Young. "We believe, given the very slim margins in the P&C business, the companies that are going to perform the best are the ones that can take advantage of this new wave of information that's become available in the last few years."
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