Making data more accessible and sharable among those in underwriting, claims, product development and marketing could free information currently trapped in siloed legacy systems, Deloitte reports. (Photo: Farknot Architect/Adobe Stock) Making data more accessible and sharable among those in underwriting, claims, product development and marketing could free information currently trapped in siloed legacy systems, Deloitte reports. (Photo: Farknot Architect/Adobe Stock)

While data has been the insurance industry’s lifeblood since the first actuary was hired, many carriers are still struggling to refine their most basic raw material to produce more impactful insights and outcomes, research by Deloitte has found.

As summarized in my last article, many challenges are keeping insurers from realizing the full potential of their data and analytics initiatives. A report by the Deloitte Center for Financial Services identified a multitude of problematic issues, including:

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