Benefits of business intelligence for insurance companies
The insurance industry is one of the most data-intensive sectors, with significant data volumes collected daily. However, with a continuous influx of data, it becomes challenging for insurance companies to extract meaningful insights. This is where Business Intelligence (BI) plays a pivotal role. By leveraging BI tools, insurers can turn raw data into valuable information to improve business outcomes. Eventually, they can gain a competitive edge by mitigating risks, improving customer retention, and optimising operations.