In recent years insurance has stepped up to the digital future driven in part by digital-led disruptions by insurtech startups, as well as the success of digital-native financial services.
But beyond creating fancy user interfaces or more automated ways of customer onboarding or claims processing is the need to better understand what a customer wants and needs.
Enter predictive modelling or the ability to understand what will likely be the product a customer will want to buy and when.
Kenneth Koh, Global Principal and Director of Insurance, Financial Services, SAS, provides a candid discussion on what predictive modelling is all about and what it means to the insurance industry.