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Bringing Data Home: The Power of Predictive Analytics

Bringing Data Home: The Power of Predictive Analytics
01 November 2015

Opta’s Greg McCutcheon offers insight about the power of advanced analytics with property insurance in Canadian Underwriter’s cover story, Bringing Data Home.

With recent buzz generated around data and homeowner insurance, Canadian insurers are realizing the need for predictive analytics and by-peril rating. The success with by-peril rating in other lines of business has created awareness of the power of predictive analytics and as a result, there’s a natural evolution and need to protect against anti-selection as advanced carriers adopt more and more data driven practices.

Based on the results Opta’s Peril Score™ solution achieved throughout 2014, the vast majority of significant P&C insurance players have implemented or are in development with advanced data analytics for homeowners insurance. Before the end of 2015, Opta’s predictive solutions will be a requirement for players in this space.

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