All industries especially insurance are realizing a dramatic shift in the adoption of technology, and many companies are making the switch to being data driven organizations. Advanced analytics and predictive models are two areas that the insurance industry is making great strides in moving technology forward. If done correctly the financial and operational gains can be astronomical if companies focus on making data driven decisions instead of relying on traditional methodologies.
However, companies need to be aware of the numerous challenges they will encounter when experiencing the development, adoption and implementation of advanced analytics and predictive models.
Click below to see a list of challenges to be mindful of when making an organizational shift to embrace technology.
The Challenges of Implementing Advanced Analytics | PropertyCasualty360.
