EMEA insurance data analytics study
A little less conversation, a lot more action
Data, and making sense of it through analytics, is at the heart of all disruptive innovations and is key to becoming an insurer of the future. It’s in the DNA of start-ups, who continue to grow and bring game-changing propositions to market, and yet is often overlooked by incumbents. Will your current tactics get you to the top of the league?
A little less conversation, a lot more action – tactics to get satisfaction from data analytics is an EMEA-wide paper based on interviews with 68 insurers across the region.
Our survey told us that insurers are struggling to realise the true value of their data. In fact, almost 90% of respondents struggled to articulate the return on investment made in analytics capabilities.
Furthermore, investment in non-technology related analytics is only planned to grow between 10-20% per annum over the next 3 years. This slow, linear increase is in stark contrast with the boost being received by insurance start-ups from investors.
With only 11% of surveyed respondents deeming their analytics and business strategies fully aligned, this disconnect must be tackled if insurers are to defend their market share.
Key messages & recommendations to become an Insight Driven Organisation
A little less conversation, a lot more action - EMEA insurance data analytics study