Information Builders launches data and analytics hub for P&C insurers

insurancebusinessmag | May 31, 2019

Information Builders - a provider of business intelligence, analytics, and data management solutions - has announced the launch of a new data hub that could help P&C insurers.The Omni-Insurance hub will provide insurers with business-ready data, helping them transform from a product-driven to a customer-driven enterprise.According to a release by Information Builders, P&C insurance companies are investing in digital transformation across every aspect of their businesses - from policy and ratings to claims and billing. However, the applications they implement typically focus only on improving operational efficiency. Moreover, the data siloes they create could hamper their ability to achieve complete digital transformation.

Spotlight

In their quest to become more customer-centric, property and casualty (P&C) insurers are increasingly investing in digital technologies that help predict customer behaviors and engage with them on their terms. The chief marketing officer (CMO) is at the center of the action, a role that has grown to become one of the most complex and challenging in a carrier’s organization. Already, the noise is deafening. According to industry estimates, insurers spend over $6 billion on advertising per year, with carriers battling each other across channels, from television and radio to Web advertisements and social media. According to a study by market intelligence company SNL Financial, the marketing spend by the insurance industry outstrips every other U.S. industry by nearly 8%.

Spotlight

In their quest to become more customer-centric, property and casualty (P&C) insurers are increasingly investing in digital technologies that help predict customer behaviors and engage with them on their terms. The chief marketing officer (CMO) is at the center of the action, a role that has grown to become one of the most complex and challenging in a carrier’s organization. Already, the noise is deafening. According to industry estimates, insurers spend over $6 billion on advertising per year, with carriers battling each other across channels, from television and radio to Web advertisements and social media. According to a study by market intelligence company SNL Financial, the marketing spend by the insurance industry outstrips every other U.S. industry by nearly 8%.

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