AUSTIN, Texas--(BUSINESS WIRE)-- Insurance providers are increasingly interested in data or analytics solutions to help manage producers and improve their performance, according to new research from Insurance Networking News and Trilogy.
Trilogy and Insurance Networking News partnered to conduct research on the current state of predictive analytics in the insurance sector. According to the research findings, available here, insurance providers have made investments in analytics tools over the year but are just beginning to realize the significance of technology to help manage provider performance. Key findings of the research include the following:
"Predictive analytics are essential to driving better producer performance, and insurance companies are beginning to recognize the value and benefits of applying technology to this critical area of their business," said Joe Kelley, President of Trilogy Insurance & Financial Services. "Trilogy was pleased to partner with Insurance Networking News in conducting this research. It underscores the need for advanced analytics solutions such as Trilogy SmartChannel, which helps insurers improve the productivity and profitability of their distribution channel."
SmartChannel analytics are powered by over one billion industry data points spanning more than 10 years and dozens of carriers. This data benchmarks the performance of a carrier compared to the industry norm and provides insight into how the carrier's distribution channels should be performing, down to the individual producer. SmartChannel not only monitors, classifies and benchmarks producer performance, but also provides action plans to help maximize each producer's productivity.
To request the full report of the research findings, go to finserv.trilogy.com/inn-survey-request.
About Trilogy Insurance & Financial Services
Trilogy Insurance & Financial Services has been the partner of choice in helping large brokerages and insurers improve the effectiveness and efficiency of their producer channel for 15 years. Trilogy solutions include DCM, an insurance-specific distribution management and compensation product that enables insurers to successfully manage complex distribution channels, and SmartChannel, which helps companies optimize the performance of their top producers using predictive analytics.
Trilogy Insurance & Financial Services is led by Joe Kelley, industry veteran and former Chairman, President and CEO of American General Life and Accident Insurance Company. A division of Trilogy Inc., the company has a long history of innovative software solutions that solve complex business and technical processes. Trilogy’s worldwide headquarters is located in Austin, Texas. To learn more, visit finserv.trilogy.com.
Source: Trilogy Inc.