Insurance Analytics: On The Verge Of A New Paradigm

The insurance industry has been very incremental in dealing with disruption and needs a drastic shift from historical analysis to predictive, future risk models, a speaker suggested on Wednesday at the Insurance Analytics Canada Summit. You cannot disrupt with incrementalism,” Pranav Pasricha, chief executive officer at Intellect SEEC said at conference, held at the Toronto Marriott Downtown Eaton Centre Hotel on Wednesday and Thursday. “Our industry so far has been very incremental. You can’t win in this world of insurtech by doing a thousand small, little insurtech projects. That’s going to be like death by a thousand cuts.”