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Becoming analytics-enabled is perhaps one of the most important evolutionary steps forward an organization can make. The rewards of data-driven decision-making can be a powerful boost to the bottom line. For insurance companies, this may include using underwriting predictive models to increase profitability through more granular pricing, driving a six to eight-point reduction in loss ratios. On the claims side, predictive models have helped insurers better segment and triage high severity workers’ compensation and bodily injury claims, driving a four to 10-point reduction in claims spend.

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