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Tech Decisions Online Expert Series: Part VIII
| August 24, 2010 |
The Data Dilemma in Predictive Analytics
By Robert Regis Hyle
It's hard to predict the future without a crystal ball. In terms of what insurance carriers do, when predicting how things will turn out, the data is their crystal ball.
Those with good data can turn it into actionable decisions and those without good data are doomed to poor decisions, according to Merit Smith, vice president of Robert E. Nolan Co. "I think divisional-level operations and IT staffs probably have a more realistic sense of data quality issues and how well their data would facilitate advanced analytics," he says. "Generally, before you can do anything you really need to tend to your data, clean it up, and get it in properly structured models. So there is better understanding of that need closer to the operation level than at the corporate level."
Smith is featured on a new podcast with Tech Decisions editor-in-chief Bob Hyle as they discuss data and predictive analytics. To learn more and to hear their entire conversation, click here.
Competent to the Core—Trends in Policy Admin, Underwriting, and Claims
Date: August 25, 2010 | Time: 2:00 PM EST
The focus of IT investment has been and continues to be on core systems, according to carriers and analysts alike. But what exactly has that money been buying, and are insurers getting their money's worth? A panel of industry experts reveal what solutions insurers must implement now in order to be competitive today and in business tomorrow.
Register Now!
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