July 20, 2022 – In the past, insurers have made missteps in conceptualizing data architectures and executing them. These missteps have been expensive and painful, but insurers’ interest in investing in data and analytics remains high. Recent advances in technology, driven by cloud hosting and cloud economics, enable the data lakehouse to emerge as a practical solution to meeting insurer data and analytics needs.
This Impact Report summarizes the state of data technology for insurance executives. This research draws from the expertise of Aite-Novarica Group’s staff, conversations with members of the Aite-Novarica Group Insurance Technology Research Council, learnings from Aite-Novarica Group’s data strategy engagements, and discussions with leading solution providers.
This 16-page Impact Report contains four figures and one table. Clients of Aite-Novarica Group’s Life, Annuities, & Benefits or Property & Casualty service can download this report and the corresponding charts.