A global, cross-industry study from the Accenture and MIT Alliance in Business Analytics shows that high performers can effectively leverage analytics to better navigate change

Tools and techniques can enable insurers to make better, faster decisions—but it means little if the corporate culture resists or is indifferent to changing the status quo. Joint research from Accenture Analytics and MIT shows that high performers not only use analytics differently, but also embrace the change journey. Let’s look at the research in more detail in this Insurance Insight of the Week.

High performers embrace analytics—and change

Click the image below for a large version of the Insurance Insight of the Week.

Smarter decisions can help insurers embrace change: Winning with Analytics

Change, and managing change, is a real challenge for most businesses. But where high performers distinguish themselves from the pack is in their ability to effectively navigate barriers to change—to adapt, to make smarter decisions and ultimately, to drive better outcomes.

This is echoed in Accenture Technology Vision for Insurance 2016. One of the five technology trends identified in this year’s report is predictable disruption. Recent years have been marked by dramatic changes, and it shows no sign of stopping. Insurers that can better navigate change, and continually redefine and reinvent themselves, will be best equipped to succeed.

For more results of our global, cross-industry analytics study, download Winning with Analytics (PDF). I’m grateful to my Accenture colleagues Brian McCarthy and Lynn LaFiandra, as well as MIT’s David Simchi-Levi and Jyo Gadewadikar, for their work on the study.

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