The time is now for insurance providers to embrace analytics

Insurers that still rely on other antiquated legacy systems face mounting pressure to upgrade and automate. (NicoElNino/Adobe Stock)

Insurance is one of the most heavily regulated sectors. From customer protection compliance to solvency requirements, insurers are no strangers to managing complex regulatory situations. One element of the insurance business, in particular, is becoming increasingly essential for insurance providers to harness, and that’s analytics capabilities.

Insurance providers also represent one of the most complex investor groups, with portfolios that include a wide range of different asset classes, from cash and commercial mortgage investments to hedging instruments and derivatives like futures and cleared swaps. Insurers typically manage billions in assets that they continuously need to track in the marketplace. While the markets are creating new opportunities each day, with these opportunities comes more risk, compounding changes and massive amounts of data to process.