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Predictive analytics paired with automation and advanced data-mining techniques are now the core of every successful insurance business. (Shutterstock) Predictive analytics paired with automation and advanced data-mining techniques are now the core of every successful insurance business. (Shutterstock)

The insurance industry thrives on the measurability of potential outcomes, yet uncertainty remains a core aspect of this field. No one could have guessed, for example, that Hurricane Florence would have resulted in an enormous $45 billion worth of property damage. By the nature of the business, many variables affecting the volume and variety of claims seem to lie outside an insurer’s control.

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