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Changing the Rules
by
Callahan, Steven M
in
Big Data
/ Competitive advantage
/ Customer services
/ Fraud
/ Information technology
/ Insurance industry
/ Leadership
/ Liability insurance
/ Payback periods
/ Product lines
/ Profitability
/ Profits
/ Risk assessment
/ Social networks
/ Technological change
2013
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Changing the Rules
by
Callahan, Steven M
in
Big Data
/ Competitive advantage
/ Customer services
/ Fraud
/ Information technology
/ Insurance industry
/ Leadership
/ Liability insurance
/ Payback periods
/ Product lines
/ Profitability
/ Profits
/ Risk assessment
/ Social networks
/ Technological change
2013
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Do you wish to request the book?
Changing the Rules
by
Callahan, Steven M
in
Big Data
/ Competitive advantage
/ Customer services
/ Fraud
/ Information technology
/ Insurance industry
/ Leadership
/ Liability insurance
/ Payback periods
/ Product lines
/ Profitability
/ Profits
/ Risk assessment
/ Social networks
/ Technological change
2013
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Trade Publication Article
Changing the Rules
2013
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Overview
Uncertainty over election results, the fiscal cliff, and economic direction appear to have been addressed, allowing industry leaders to focus on a return to competitive advantage and sustainable profitability. Even with gradual improvements in the economy, companies remain faced with increasingly costly catastrophe losses and near-term minimal investment returns. Further complicating the challenges leadership faces are continued increases in consumer expectations for products and service, an increasingly diversified market, distribution challenges, and nonstop technological advances. Bottom line, the insurance industry requires game changers to improve performance in any meaningful manner. User-based insurance (UBI) offers one possible example of a game changer, but like all shifts it comes with it is own set of challenges. Layering a strong analytics solution on top of policy admin data and other data sources allows carriers to focus on four areas where analytics can bring significantly amplified results. In priority order based on potential impact, including: 1. risk assessment, 2. claims handling, 3. agent effectiveness, and 4. customer awareness.
Publisher
ALM Media Properties, LLC
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