Across the insurance industry,
carriers, agents, brokers, risk advisors, and consumers have come
to expect timely and secure access
to vital information on the go.
Forrester reports that 48 percent of
global information workers use a
smartphone for work and 21 percent bought the device themselves
demonstrating they will spend
their own money to work efficiently on the go. Studies also show
millennials demand mobile access
to products, services, and jobs that
allow them to shop and work where and when they want.
These expectations have resulted in an explosive growth for
complex and varied data analytics solutions accessible via mobile devices. For example, claims managers want mobile access
to vendor and partner performance information to focus on
problem areas that require attention while in the field. Regional and distribution managers want to receive alerts regarding
channel performance via high-touch mobile dashboards.
Sales and distribution managers want to analyze broker and
underwriter performance not only on price, but also on the
critical issues of contract wordings and claims performance.
They want to identify areas of improvement in product design,
customer management, and to recognize cross- and up-sell
opportunities, all via any device, anytime, anywhere.
The demand for mobile analytics comes from customers and
employees at all levels. The expanding list of desired analytics
capabilities is extensive, including personal lines policy analysis,
portfolio analysis, claims management, risk management
appraisal, agent productivity, product distribution and claims by
geographic areas, and customer behavioral patterns.
To respond to the demand for secure, mobile analytics,
many corporations are investing in tools, people, and process
improvements that will help them gain greater business value
from the volume and variety of data available to them. If done
right, these investments will result in capabilities and innovations that can help improve productivity, enhance customer loyalty and retention, increase sales and profits, and reduce risks.
Doing it right requires four critical components: 1) an
enterprise analytics strategy and roadmap to deliver impactful
analytics that provide business value; 2) an enterprise mobile
strategy designed for “mobile first” and delivers analytics on
any device; 3) a predict, prevent, and persist analytics security
strategy that reduces breaches and vulnerabilities; and 4) an
agile analytics development methodology that adjusts quickly to
An enterprise strategy and roadmap targets and funds an-
alytics investments or initiatives that contribute directly to the
achievement of business objectives. The best way to align ana-
lytics to objectives is to frame questions that, if answered with
the right data, accelerate the achievement of desired outcomes.
The enterprise mobile strategy designs analytics for mobile
first, making enterprise analytics accessible via any device while
personalizing and enhancing the user experience. It stores
little information on the device, making secure, mobile access
to analytics cost effective and feasible—even using personal
smartphones in bring-your-own-device scenarios. It enables
location-aware and personalized features on the device while
protecting the enterprise data in accordance with established
policies and rules at the user level instead of the device level.
The predict, prevent, and persist security strategy for mobile
analytics is focused around the concept of precognitive capabil-
ities. This approach uses artificially intelligent technologies and
cyber professionals, with a focus on predicting, preventing, and
persisting against cyber incidents targeting data and analytics.
Agile development uses a continuous delivery model to rapidly
deploy analytics capabilities in small iterations, providing the op-
portunity to pivot and adapt quickly as needs change and evolve.
In summary, to secure and retain a global and mobile workforce and customer base, the insurance industry must accelerate the pace of delivering high value, secure mobile analytics
capabilities. Four critical components are essential to success:
an enterprise analytics strategy and roadmap that focuses on
business value; an enterprise mobile strategy that accommodates any device; a predict, prevent, and persist security strategy
that reduces vulnerabilities; and agile development to deliver
functionality faster while reducing risk and costs. ITA
Cynthia (Cindy) Walker is vice president of the Data Analytics Center of Excellence at Salient Federal Solutions. She
leads the development and implementation of Salient’s
data analytics strategy to include predictive analytics, business intelligence, and big data solutions for Salient’s clients.
Analytics on the Go
Secure, mobile insurance industry data offers high value insights on any
device, anytime, anywhere.