Despite the tremendous potential of analytics for P&C insurers, Accenture research reveals that two-third of them (66 percent) do not have the ability to effectively collect and analyze their growing volume of claims data.
Without the ability to tap into their data, P&C insurers are missing out on insights about consumers from social media, usage data from telemetry and GPS, and asset damage records collected by RFID devices. All this information can be invaluable to help refine and improve claims management capabilities and processes.
Join me next week as I share some figures on how well P&C insurers are able to collect and gather data to derive insights.
To learn more:
- Read the survey: North American Claims Investment Survey: A Foot in Today, a Leap into Tomorrow for P&C Claims Functions (pdf; opens in a new window)
- View the Accenture North American Insurance Claims Investment Survey infographic