Emerging Uses of Predictive Analytics for Insurers
Leading insurers are beginning to employ predictive analytics to gain a competitive edge in the current market environment. Although predictive analytics has been traditionally applied in catastrophe and fraud related assessment, predictive analytics is now finding applications and use for insurers in the areas of sales and risk analytics. This white paper describes several of the emerging uses of predictive analytics in the insurance industry. Insurers who are adopting advanced analytics in their business processes are improving business performance by maximizing customer lifetime value, optimizing revenue retention/growth, and preserving revenue by mitigating losses. Read more about solutions for renewals management, channel sales management and claims fraud abuse and deterrence solutions.