2012 Is The Year of the Customer, According to PwC Top Issues in Insurance Report
The report also covers other key areas of focus, including international regulatory developments in risk and capital management.
Technology: Innovation is happening in all aspects of information, from capturing and interpreting to integrating and sharing. Innovation is enabling insurers to make better and smarter use of greater amounts of data, called "big data." While personal lines carriers are further along in their use of technology, today all insurance sectors have an opportunity to use big data and smart analytics, many for increasingly large and complex risks.
In these instances, big data will be used not only to automate, but also to enhance underwriting processes, reduce cycle time, facilitate better pricing, improve loss control and better inform decision making related to customer acquisition and retention.
"One of the largest challenges insurers will face in 2012 and beyond is capturing and interpreting data from a growing number of structured and unstructured sources, including but not limited to social media, policy-holder behavior and telematics," says Jamie Yoder, PwC's US insurance advisory practice co-leader. "Insurers that apply advanced analytical techniques to harness the power of big data will be better able to understand their customers, tailor products to meet their needs, and enhance the overall customer experience."
King, Former Tarrytown Insurance Agent, Dies at 82
TARRYTOWN, N.Y. -- George T. King, of Tarrytown, died March 23 at the age of 82.
He was born on July 26, 1929 in Hartford, Conn. to George and Edna Mahoney King. A veteran of the U.S. Navy, King worked as an agent for John Hancock Insurance for many years in Westchester County.
He was an active parishioner of Transfiguration Church in Tarrytown and he belonged to the Tarrytown Seniors as well as the Transfiguration Seniors.
King was married to the former Grace Bloom, who predeceased him in 1983. He is survived by his son Thomas (Nancy) King of Roanoke, Va., his brother Edward King of Spencer, Mass., his dear friend Jean Dunagan of Elmsford and a granddaughter. In addition to his wife, he was predeceased by his daughter Catherine J. Colucci and his sister Joan Carr.
Visitation hours are from 2 p.m. to 4 p.m. and 7 p.m. to 9 p.m. on Monday at Coffey Funeral Home in Tarrytown. The funeral mass will be held at 10 a.m. on Tuesday at Transfiguration Church with interment to follow in St. Raymond’s Cemetery.
