“Perhaps data, people or cultural challenges are a factor, or some are only applying data-driven analytics when an area is underperforming. Whatever the reasons, a compelling case can be made that well-executed predictive modeling provides better pricing guidance to underwriters,” Stoll said.
The survey reports that nearly all carriers experienced favorable bottom-line results because of predictive modeling, creating positive impacts on rate accuracy, profitability and loss ratio improvement.
Survey findings reveal that a commitment to predictive modeling is more than just building and applying technical models. Improved communications concerning the measurable value that strategic application that predictive modeling offers to all key stakeholders is imperative for effective implementation and integration.
via Predictive Modeling Usage Up for P&C; Strategies Remain Incomplete 
