North America life insurers embrace predictive analytics to elevate their business
Willis Towers Watson Public Limited Company - Ordinary Shares (WLTW)
Last willis towers watson public limited company - ordinary shares earnings: 4/30 06:01 am
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Source: GlobeNewswire
ARLINGTON, Va., June 17, 2019 (GLOBE NEWSWIRE) -- North America’s life insurance industry will increase its investment in predictive analytics capabilities over the coming years, according to Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Findings from the company’s Life Predictive Analytics Survey show that life insurers recognize they need to invest in predictive analytics to address earnings and profitability pressures, and the survey suggests those who do will be well-positioned to transform the core functions of their business. The survey found that large carriers lead the way in predictive analytics investment, yet midsize and small insurers intend to allocate more budget to the application of data and analysis techniques over the next two years. Respondents ranked the competitive landscape (78%) and fortifying customer relations (67%) as the top factors driving predictive analytics investment, and they expect to expand the use
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