The changing customer behavior, digital disruption, regulatory pressures, and competitive marketplace are forcing insurers to refine their current strategy and operating models. The P&C insurers are facing various growth-related internal and external challenges that are keeping their executives on toes. From low-interest rates, soft pricing conditions to technology advancements, the expectations to deliver profitable and sustainable growth amidst this change are some of the hurdles the insurers are facing.
With Business Intelligence 4.0 that focuses on leveraging data to make an informed decision and gain competitive advantage. While data is an asset, data management is key to success. Insurers can leverage Associative engine of Qlik Sense to consolidate data from various sources and get actionable insights for loss mitigation, fine-tuning underwriting, personalizing products to enhance customer experience.