The adoption of cutting-edge predictive analytics – powered by such tools as artificial intelligence, cognitive computing and smart algorithms – is transforming the ability to anticipate changing customer needs. A heightened ability to predict and respond to change can become a powerful differentiator within economic, geopolitical and marketplace environments in constant flux.
“Our customers are dealing with an evolving landscape of risks and rising costs and need our support,” said Peter Hahn, head of Predictive Analytics, Zurich North America. “We believe we can provide that support to help them to not only better understand and manage risk using the predictive analytics tools at our disposal, but to also mitigate those risks early on in the claims process. We’re really trying to transform insights into impact for our customers and distributors, helping them drive positive impacts within their organizations.”
Zurich’s predictive analytics approach derives insights from a global base of proprietary and external aggregated data to identify future risks and help drive strategic decision-making. Extensive modeling capabilities augmented by new and emerging data management technologies help Zurich specialists better understand customer risks both locally and globally, information that can be shared with customers and brokers.
Peter recently shared his views about the potential benefits of predictive analytics in an article that appeared in Leaders magazine.