Expert: Homeowners carriers can benefit from predictive analytics

12/5/2012 | PropertyCasualty360

Predictive analytics can provide many benefits when tough market conditions face carriers offering homeowners insurance, writes Dax Craig, CEO of Valen Technologies. Insurers can develop predictive models with accuracy through the use of properly structured data, Craig writes, adding that predictive analytics allows carriers to make consistent decisions and predict a policy's performance. "While it is impossible to control the weather, it is possible to understand more about the homes carriers insure and price them accordingly using predictive analytics," Craig writes.

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