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The need for analytics-driven decision making in insurance couldn’t have been better timed. The industry is faced with multiple challenges in managing costs better, dealing with stringent regulations and increasing customer demands. Insurers that are able to leverage analytics will be positioned to achieve a sustainable competitive advantage.
From the very basic Reporting, to the moderately evolved Descriptive or the advanced Predictive and Prescriptive, analytics in all forms impacts business. For the insurance industry in particular, insurance business intelligence or analytics provides invaluable insights on customer acquisition and retention strategies, sales strategies and effective claims management.
This WNS whitepaper provides a holistic view on how analytics can transform the insurance business to create value for all stakeholders.