Robust analytics give property/casualty insurers new insights on customers, risks and business cycles

Almost all property/casualty insurers today have at least rudimentary analytical capabilities, but they tend to be confined to an actuarial group using traditional loss and underwriting data, and focus narrowly on how loss prediction can improve pricing.

High-performing firms, by contrast, take an approach that's both more expansive and practical. They find meaningful linkages between claims and measures of personal responsibility, looking beyond actuarial data to uncover new data sources outside insurance, from divorce filings to records of smoking behavior and magazine subscriptions.

This whitepaper looks at how the leaders in this field are using advanced analytics to improve business decisions in five key areas.