Rethinking the Risk Business: Data and Analytics in the Insurance Industry (State Street)

January 2014

KEYWORDS: insurance, data, reinsurance, strategy, data security, market data

Authors:

State Street

Organizations:
  • State Street

Summary:

Risk management has always been critical to success in the insurance industry. But now insurance companies’ challenges are changing dramatically — particularly on the investment side of the business. As they search to improve investment returns in a difficult environment, many insurance firms have diversified into riskier, alternative asset classes. Managing today’s infinitely more complex portfolios requires more sophisticated data analytics. Meanwhile, an influx of new regulations is raising the bar on how insurance companies manage their data.

This report reveals that almost 9 out of 10 insurance companies now view data and analytics as a high strategic priority. Drawing on a State Street survey of insurance companies and other institutional investors conducted by the Economist Intelligence Unit, the report details how firms are now investing in this area to achieve an enduring competitive advantage.

Related Research and Data