Data and analytics are fueling revenue growth and resilience for the insurance sector. The importance of data and analytics can be gauged by the fact that 66% of insurance decision-makers identify ‘becoming more insights-driven in business decision-making’ as a critical priority. A significant percentage are building a unified customer view and enhancing functional analytics capabilities. They are also looking to build predictive analytics capabilities. Notably, the sector is taking small but important strides towards cloud-based analytics capabilities.
Source: Forrester study
commissioned by WNS
60% prioritize becoming more insights-driven in decision-making
86% have observed measurable or significant benefits by implementing Data & Analytics practices
94% are fully leveraging machine learning in most platforms / apps
73% of manufacturing firms are looking to become insights-driven as a high priority
70% of surveyed enterprises are building predictive analytics capabilities
74% expect organizational spending on analytics to rise in the next 12 months
71% are planning to implement AI-enhanced BI platforms
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