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  5. Getting Value from Data - Life & Annuity Insurers in North America

Getting Value from Data - Life & Annuity Insurers in North America

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15 September 2021
Marty Ellingsworth

Quantitative Survey and Qualitative Interviews Sposored by Equisoft

Abstract

In May and June of 2021 Celent surveyed executives around the globe on their activities related to digital acceleration. This report focuses on their responses from the North American life and annuity market. Respondents to both the quantitative online survey and the qualitative interviews are responsible for leveraging data and creating a robust data and analytics strategy in their organizations. Hear about their successes, challenges, and priorities.

This research will help insurers to plan, prioritize, and make investment decisions about how to unlock the strategic value of their data — and create new, potentially transformative, growth, process optimization, and customer experience improvement opportunities.

Insurers increasingly have vast volumes of data that continue to grow especially as modern customers demand more digital experiences and self-service options for product access, speed, and convenience while companies seek more automation, efficiency, innovation, and effective impacts on business outcomes.

The objective of this research is to understand what leverage points create value from an insurer's data and to get a clear picture of how companies improve their abilities to expose and use their data for more than administrative purposes, while overcoming key risks to realizing that value.

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