Customer data is becoming plentiful as internal and external sources proliferate. Data’s potential to help insurers understand their customers and provide more relevant products and services is undeniable. Yet many carriers can only look on in frustration, thwarted by an inability to assemble, process and make sense of the deluge of data that is washing over them. Consider this stat: more than half of P&C insurance firms we surveyed in Europe and Latin America are unable to collect and analyze the growing volume of data to enhance their claims function.
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