Sapiens INTELLIGENCE – Master Your Data’s Value
Today’s property and casualty/general insurers are coping with mountains of data. They are trying to glean actionable insights from this data to formulate their companies’ strategies, decide which new propositions to bring to market and obtain crucial market intelligence. Without effective analytics, P&C insurers are reactive and cannot effectively prepare for new trends, costing them their competitive advantage.
In fact, the mountains of data are quickly becoming data “streams” – with information continuously flowing from diverse sources, such as core systems, portals, social media, etc. The challenge is how to incorporate all of these data streams into data-driven decision processes.
To address the above difficulties, many P&C insurers rely on static reports and studying their past general insurance data, which doesn’t enable them to quickly transform data into business decisions. They remain a few years behind more modern insurers, who explore a deeper, more meaningful analytics experience across all levels and roles of the organization.