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How Predictive Modeling Helps Insurers: Towers Watson

Property/casualty insurers aren't just reporting bottom-line benefits from predictive modeling. It's helping their top lines too, Towers Watson reports based results of a recent survey. In 2014, 91 percent of respondents cited the favorable impact of predictive modeling on loss ratios, for example. On the top line, survey participants cited a positive impact on renewal retention (55 percent), underwriting appetite (46 percent) and market share (41 percent).

More survey results are summarized here and in an accompanying article, "Full Power of Data-Driven Analytics Still Largely Untapped by Insurers," by Towers Watson's Brian Stoll and Klayton Southwood, published on Carrier Management.

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