Many insurance providers are struggling under one of the most competitive and challenging periods in the industry’s history. Regulations are in a state of constant flux, customers expect increasingly faster and more personalized officers and services, and they are more willing to switch carriers than ever. At the same time, policyholder information remains difficult to collect, analyze, and approve, and many companies haven’t been able to automate processes as successfully as they’d hoped. Underwriters and analytic teams continue trying to make the best of legacy systems or even newer point solutions, but most of them fail to facilitate cross-collaboration, strategy simulation, and rapid analytic model deployments.
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