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 is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 80,000 sites make better decisions faster. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW®.