Insurance Analytics Training

Description:

Today, the insurance industry is in a highly regulated and competitive environment. Consumers pay premiums for getting insured, in exchange for the risk insurers take on their books. In pricing and underwriting, mathematical and statistical methods has been prevalent for a long time to appropriately price that risk (actuarial science). With rising expectations of the digital consumer, technological advancements, changing demographics, and highly unpredictable catastrophic and risky events, the need for differentiation has become more pressing. Insurance companies are transitioning from a “product-centric” to a “customer-focused” approach, much like the retail and telecom industries went through in the past. Moreover, since the advent of the internet, the exponential rise in different types of data has left many companies feeling like they are “extremely rich in data, but extremely poor in derived value”. 

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