LONDON--(BUSINESS WIRE)--Quantzig, a leader in delivering scalable analytics solutions and data science services, today announced the completion of its recent article that offers comprehensive insights on the role of commercial analytics in the insurance industry.
With data playing a crucial role in the insurance sector, most insurers have invested in advanced commercial analytics solutions to drive data analysis and insights generation. However, a recent study conducted by the analytics experts at Quantzig helped reveal that about 90% of insurance companies struggle to see a positive business case on data analytics solutions. With data complexities increasing daily, insurance companies are now facing multiple challenges that prevent them from reaching the potential of commercial analytics solutions.
The approach for becoming an Insight-driven insurer is built on two parallel capabilities the ability to comprehend data and generate insights. Request a FREE proposal for expert insights and personalized recommendations on how Quantzig can help you increase your commercial success with smarter strategies, advanced analytics, and actionable insights.
To sustain a leading-edge, insurers are now upping their game in terms of analytics investments. With insurance firms seeing commercial data analytics as a core capability to maximize outcomes across the organization, we have developed an organizational framework backed by commercial analytics to help insurers develop and organize their data analysis and insight generation capabilities. Request a demo to gain a real-time view of our advanced data analytics platforms.
Based on our industry expertise and collaborations with insurance clients from across the world, we’ve identified three key areas that play a crucial role in transforming the way insurance service providers use commercial insurance data analytics:
Integration of data and insights
In today’s complex business environment, the need to classify and prioritize information sources is also turning out to be a focus area since data that is relevant to decision-making is limited and difficult to analyze.
Scaling analysis and insight generation
To make the most of your commercial analytics investments it’s crucial to take necessary actions to ensure continuous insight generation across the organization.
Turning insights into actions
Turning insights into real-world commercial decisions require a lot of skill and commercial analytics expertise. One way to go about is to build a unified commercial data analytics team to tackle common business issues that involve managing revenue, developing productive strategies, and analyzing datasets to drive more value and growth.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal