The Data Dive: Is the Industry Levaraging Analytics to Its Full Potential?

Consider the amount of data that is amassed and traded between consumers and insurers. At the industry’s most basic level, in order to provide consumers with the cost of the policies for their homes, cars, personal property, lifestyle and health, insurers must compare data given to them by consumers with data they have collected on a set of risk factors. Seems simple enough, but this age-old process could improve through better data utilization, especially in the era of usage-based policies.