Home Breadcrumb caret Your Business Breadcrumb caret Tech Data Converging True, it is all about data these days. That said, determining how best to employ the ever-growing store of internal and external data is necessary to gain forward-looking insights. For Canada’s property and casualty insurance market, knowing what to do with data to meet customer needs and demands will likely prove the end-game. September 21, 2017 | Last updated on October 1, 2024 1 min read Insurance Analytics Canada Summit Toronto The insurance industry has been very incremental in dealing with disruption and needs a drastic shift from historical analysis to predictive, future risk models, Pranav Pasricha, chief executive officer at Intellect SEEC, told those attending a session at the recent Insurance Analytics Canada Summit. The biggest challenge for the industry is technology, particularly outdated core policy admin systems, Pasricha said during Big Data & AI: Time to Unlearn All You Know About Traditional Analytics. Paul MacDonald, meanwhile, suggested the property and casualty insurance industry is “struggling to speed up the process of being more agile” and that “the vast majority of customers, with some exceptions, still can’t renew online most of their insurance products.” MacDonald, senior vice president of claims and chief claims officer for RSA Canada, was one speaker on a panel titled How Analytics Are Transforming Claims, Underwriting and Pricing. Canada’s property and casualty insurance industry is “struggling to speed up the process of being more agile,” Paul MacDonald, senior vice president of claims and chief claims officer for RSA Canada, said during a summit session. “The vast majority of customers, with some exceptions, still can’t renew online most of their insurance products,” MacDonald said during How Analytics Are Transforming Claims, Underwriting and Pricing. Read the full article in the Digital Edition of the August 2017 Canadian Underwriter. Click here to subscribe to Canadian Underwriter, available free to qualified industry professionals. Save Stroke 1 Print Group 8 Share LI logo
