Advanced analytics and the art of underwriting – Deloitte thought leadership paper
Article Summary :
Boosting underwriting profitability by using traditional tools and approaches is becoming less common. The important question before insurance leaders today is – how do we keep underwriting operations efficient and profitable in an evolving digital landscape? In the discussion document “Advanced analytics and the art of underwriting”, Deloitte propose the way in which data mining and predictive modelling can help insurers in improving pricing and segmentation ultimately leading to enhanced underwriting profitability.
Key Insights :
The report highlights how data mining and predictive analytics ensure better and faster underwriting control. Key points discussed in the report are:
- The business problem
- The predictive modelling process
- The business value
- Implementing a data mining solution.
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