Rethinking the Risk Business

Data and Analytics in the Insurance Industry

July 2014

Risk management has always been critical to success in the insurance industry. But now insurance companies’ challenges are changing dramatically — particularly on the investment side of the business.

As they search to improve investment returns in a difficult environment, many insurers have diversified into riskier, alternative asset classes. Managing today’s infinitely more complex portfolios requires more sophisticated data analytics. Meanwhile, an influx of new regulations is raising the bar on data management.

This report reveals that almost 9 out of 10 insurance companies now view data and analytics as a high strategic priority. It also details how firms are now investing in this area to achieve an enduring competitive advantage.



About the Research

State Street commissioned the Economist Intelligence Unit to survey of more than 400 asset owners and asset managers to extract information about how they are using investment data and analytics. The survey — conducted from August to September 2013 — included 67 respondents from the insurance industry. Respondents were globally distributed, with roughly one-third based in North America, one-third in Asia Pacific and one-third in Europe.