Business intelligence and machine learning highlight the need for change

The rate at which technology is transforming the P&C insurance industry is nothing short of amazing. Seemingly every day, innovations are coming to market from insurtech startups and established vendors – both within and outside the insurance industry. When one of these innovations is broad and powerful enough to provide a transformative effect on anyone…

Insurers face three distinct stages in their quest for digital maturity. Almost all businesses are feeling the urgency to transform digitally to avoid becoming irrelevant – a scary prospect. The pressure on insurers — where stakes and customer emotions can both run high — is also greater than ever. Read more in PropertyCasualty360 here >

The evolution of analytics and machine learning are shaping the industry’s future, mitigating risk, improving business, and helping develop types of policies that individuals and businesses need, even before they know they do. Success, failure, and change in the insurance business have always been largely data-determined. But today is different. Read the full article