About this paper
Predictive analytics is widely used in insurance pricing and underwriting applications. Media and industry information might lead to the assumption that most insurers are using predictive analytics for well-defined improvements in the claims arena, too. But after conducting research and interviews with insurance executives, The Gorman Group and SAS found this was not the case. Most insurers, they found, underutilize the use of predictive analytics in claims – and fail to get the full value out of their claims data. This paper identifies the most common inhibitors to using predictive analytics in claims and presents concrete recommendations for overcoming them.
SAS helps 80,000 organisations around the world take their data… And do amazing things… We help organisations turn large amounts of data into knowledge they can use, and we do it better than anyone. It’s no wonder an overwhelming majority of customers continue to use SAS year after year. Find out more, Why SAS?