Large financial services firms like Morgan Stanley are focusing on predictive analytics to accelerate growth among wealth management clients. Retailers, including CVS and Macy’s, rely on analytics to personalize promotions for customers, and boost sales quickly.
Executive Summary
Property/casualty insurance carriers have been using predictive analytics for pricing and underwriting, but other applications include prospecting new customers, according to Wade Bontrager of EagleEye Analytics.Even political campaigns are leveraging analytics to predict how to identify and persuade likely voters. And consumer goods companies depend on analytics at the customer acquisition stage to know who will buy and what offers they will respond to.
Where does the insurance industry stand in its use of analytics to find the best prospects?
