February 4, 2011 – North American property and casualty insurance carriers currently utilizing predictive modeling continue to see positive ongoing improvements in bottom-line results, according to findings from Chicago-based global professional services company Towers Watson's second annual predictive modeling survey.
The conclusions are underscored by the fact that predictive modeling continues to gain momentum among insurers. The firm noted that most carriers either expanding current implementations or planning new or additional applications for predictive modeling applications, a tool that uses advanced statistical modeling techniques, along with critical company and external data related to individual policyholders, competitors, marketplace conditions and customer behavior.
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