’It really is a chance to thrive in that dynamic environment,’ says chief executiveInsurers need to make “strategic changes” to better analyse data as they rely a lot on historical figures and models. This came after the insurtech said in its Insurance Operations in a Changing Industry report that 48% of businesses had been prioritising profitability, compared to just 13% that focused on growth. Gilthorpe felt a change in the way data was used would be key to help achieve this. “Our contention is that requires a strategic change, not just a tuning of the existing parameters,” he added. “That strategic change requires a change in the way that we behave, as well as the underlying technologies.

Source: The Times October 23, 2023 10:19 UTC