New data sources, the growth of unstructured data and more sophisticated uses of information have many auto insurance carriers at a crossroads. These carriers are considering where to go next: how to get there, and who they need to bring along with them. Because every carrier has its own motivations and objectives for applying the vast data and technology available, there’s no one clear path. But there are some clear mile-markers that can guide the journey.
As you consider your plans, it’s important to accurately assess your data capabilities and use. Countless data and analytics adoption models are a Google® search away. But for easy reference, you can think of a continuum that starts with ‘not data driven’ on the far left to ‘sophisticatedly leveraging Big Data’ on the far right. Based on experience working with auto claims executives, we see a strong grouping right in the middle.
Learn how CCC can help you leverage data to improve your claims process.
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