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Services of interest
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McKinsey: Scaling the impact of advanced analytics in Iberian insurance

Executive summary :

The business potential of advanced analytics (AA) is immense. This is especially true for the insurance industry, where prediction and assessment are hardwired into the business model.

 The Digital Insurer reviews McKinsey’s Report on Scaling the impact of advanced analytics in Iberian insurance

Iberian insurtech adoption is proving to be a slow burn

During the past year, many property and casualty insurers within the Iberian Peninsula have made progress in building analytics capabilities, deploying pilot cases, and building up new AA teams. Still, most Iberian insurers struggle to realise the full potential impact.

To realise growth and productivity improvements beyond isolated AA use cases, they must move toward full scale, enterprise-wide deployment.

Based on in-depth interviews with Iberian insurers, this article describes how the industry has been adopting AA, why full-scale adoption is still limited, and how insurers can advance through three levels of maturity in their AA scaling in the coming years.

By overcoming challenges associated with strategic planning and operational readiness, insurers can ascend to higher levels of digital and analytics maturity across their entire organisation.

See the full report for more…

Link to Full Article:: click here

Link to Source:: click here

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