Accenture Claims Investment Survey: Up to 80 percent of US P&C insurers use offline data such as Excel spreadsheets.
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Given how much data insurers have, collect and use, it’s not surprising that Accenture research revealed that data and analytics are a top priority for C-level claims executives at US P&C insurers.

What kind of data are they using?

  • Eighty percent of insurers use offline data, especially from Excel spreadsheets and Access databases.
  • Seventy-four percent use unstructured data found in the core claims system.
  • Sixty-two percent use unstructured data such as voice, text, pictures and video.

Insurers don’t yet use social media, predictive models or location-based data in substantial numbers, but many would like to.

Join me next week as I share how insurers are using analytics—and why most aren’t getting the benefits they wanted.

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