Insurance analytics is increasingly powering innovation across companies, helping them optimize policy pricing, streamline their claims processes, and improve customer experience. Insurers are rapidly using advanced data and predictive analytics and AI in insurance to empower themselves with high-level data and information and create and execute robust claims management strategies.
On that note, the global insurance analytics market is predicted to be worth $22.45 billion in 2027, growing at a CAGR of 14 percent during the forecast period according to the latest market analysis reports.
The growing trend of digitalization and sharp focus on enhancing customer experience is expected to drive the market growth. Increase in fraudulent activities and cyberattacks also boosts the need for insurance analytics solutions, further fueling market expansion.
This edition of Insurance CIO Outlook brings forth the most influential developments in the insurance analytics landscape. It is aimed at developing analytical tools for business optimization and reinventing existing business models to ensure better services to the policyholders.
The edition features thought leadership articles from Pantea Vaziri, Head of Global Cyber Analytics at Allianz Global Corporate & Specialty (AGCS), who offers tips on integrating data across an organization to make informed decisions, as businesses can thrive in today’s evolving and competitive landscape. It also brings invaluable insights from Bernard Khomenko, vice president of actionable analytics and Doug Levit, EVP and director of analytics at Alliant Insurance Services, who speak about the role of insurance analytics in formulating strategies for efficient health planning and reporting.
We hope this edition helps you find the most appropriate insurance analytics solution providers that will deliver integrated and value-added insurance services to customers with low operational costs.
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