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There are a variety of technological advancements insurers can engage to enhance the customer experience, streamline internal practices and drive successful outcomes. Most insurers have embraced the use of technology to some extent to improve policy administration and other internal processes in actuarial, underwriting and claims departments. For example, predictive analytics, a process where data which describes past results is used to predict future outcomes, is used to improve underwriting operations by analyzing the probability of loss, targeting low risk clients and developing competitive pricing relevant to each risk.

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