Data Collection & Data Analysis
Data analysis and predictive modeling have become important to program administration and to carriers. It is to understand the buying habits of customers; those who are making those decisions look at important factors such as price, coverages, services, and customer relationship. To tap into data effectively, understand the new insights in the markets that will help promote long-term success.
Target Markets will look more closely at data collection and analytics. The survey seeks to find out the kind of data the carriers collect, such as exposure data, risk management practices data, historic loss data, premium data, and data on limits. It seeks to find out whether data is captured electronically and whether carriers and program administrators share data with each other http://www.targetmarkets.com; the focus is on claims, loss data, and line of business information; innovation may not involve a lot of data.
Uses of Capital: