Analytics for Insurance. Tony Boobier

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      Tony Boobier

      Analytics for Insurance

       ‘Insurance was one of the first industries to use analytics, but now the game has changed. There are new types of analytics, new forms of data, and new business models based on them. Insurers need only read this book if they wish to remain in business.’

– Thomas H. Davenport, Distinguished Professor, Babson College; Research Fellow, MIT; Author, Competing on Analytics, Big Data at Work, and Only Humans Need Apply

      ‘If you want to understand how analytics is applied in insurance then this is THE book to read. Tony has succeeded in writing not just an authoritative and comprehensive review of the insurance industry and analytics but one that is actually enjoyable to read. He covers a range of topics that extends way beyond the core areas of underwriting, risk modeling and actuarial science for which the industry is known but delves into marketing, people and implementation too. This book brings together the author's extensive knowledge of both insurance and technology and presents it in a form that makes it essential reading for market practitioners and technologists alike.’

– Gary Nuttall, Head of Business Intelligence (2012–2016), Chaucer Syndicates

      ‘In this paradigm-shifting book, Tony Boobier provides us with the foundation to explore and rethink the future of the insurance industry. Visions of the future, a review of key processes and implementation concepts all combine to provide the essential guide to help you take your organization into the next decade.’

– Robert W Davies, Consultant; Author, The Era of Global Transition; Senior Visiting Fellow, Cass Business School, London

      ‘This book is a valuable read for any professional in the Insurance field who wishes to understand how spatial information and GIS can apply to their field. It introduces the first principals of location theory and goes on to illustrate how they can be applied practically. I would recommend it fully.’

– Jack Dangermond, President, Environmental Systems Research Institute (ESRI)

      ‘The number-one ranked finding from all recent buyer and customer research is that sales professionals today must be able to educate their buyers with new ideas and perspectives and have a real in-depth knowledge of their customers' burning issues. Tony Boobier explains clearly these key issues within insurers today. He goes further by explaining how insurers themselves can take full advantage of the dramatic advances in Analytics and new technologies. For those insurers seeking to optimize their own sales process and sales performance by using the power of Analytics to successfully target and capitalize on their customers' critical issues, this book is required reading. For those sales professionals seeking to successfully sell to the insurance industry, this book really does hit the mark of providing key insights and new perspectives that will enable a deep understanding of the issues affecting the insurance industry today.’

– Tom Cairns, Founder and Managing Director, SalesTechnique Limited

      ‘This book is very insightful and shows the author is again thinking ahead of everyone else. Analytics has a major part to play in the supply chain. More information received at FNOL will help provide the right solution to the problem and speed up the process.’

– Greg Beech, CEO, Service Solutions Group

      ‘This extensive and comprehensive text draws on the author's extended experience of working in the insurance sector in a variety of roles and levels over many years, whilst drawing on his unique insight gained in working in other spheres and disciplines, to provide a highly insightful and relevant account of the application and future application of analytics in insurance in the context of the emergence of Big Data. The text covers an extensive and impressive range of contemporary applications within insurance, including financial risk, finance, underwriting, claims, marketing, property insurance and flood risk, liability insurance, life and pensions, people and talent management. The text goes further in boldly providing a practical account and guidance on the approaches to the implementation of analytics.

      Tony Boobier adopts a pragmatic and confident account that is useful to practitioners involved in insurance, and more widely in the use and application of Big Data. The text is also useful and accessible to those studying in the areas of finance, investment and analytics in providing an exhaustive account of the profession from the lens of a highly experienced and proven practitioner. I have no hesitation in recommending this text to practitioners and students of insurance and Big Data alike and I am sure it will become a highly valuable contribution to the “art of insurance”.’

– David Proverbs, Professor, Birmingham City University

      ‘This publication covers a huge amount of ground. “Big Data, analytics and new methodologies are not simply a set of tools, but rather a whole new way of thinking” seems to sum up the approach and value of this book, which offers fascinating insights into developments in our industry over recent years and raises important questions regarding how we approach the future. I found the Claims section full of illuminating information about the roles and approaches of all the parties involved in the process – insurers, supply chains and experts' roles and attitudes that makes for a fascinating read – it is technical, insightful, challenging and full of vision to take the insurance industry into the future. The section on leadership and talent should resonate with all of us working in insurance.’

– Candy Holland, Managing Director, Echelon Claims Consultants; Former President, Chartered Institute of Loss Adjusters

      ‘I feel it comprehensively brings the insurance business and analytics together in an easy-to-read/understand and professional, researched way. This book certainly indicates the width and depth of Tony's insurance and analytics knowledge. I also feel that it could be an effective overview and reference for existing and incoming insurance management, through to IT suppliers, other professions involved in the insurance markets, and also for students.

      As someone who has been beavering away for thirty-five years at trying to narrow the divide between insurance and IT at strategic level, much of the content is music to my ears, and underlines that the author and I are, as always, singing from the same hymn sheet – analytics in its broadest sense is indeed an ideal catalyst to achieve this objective.’

– Doug Shillito, Editor, Insurance Newslink/Only Strategic

      ‘Analytics programs that are business driven have proven they deliver substantial benefits within the general insurance industry over a number of years. One of the key analytics challenges facing the market is to establish similar routes to value in more specialist sectors such as the London Markets. This book provides valuable food for thought for those keen to take on this challenge and gain a competitive advantage.’

– Glen Browse, MI, Data and Analytics Specialist (with over 20 years' experience across the banking and insurance industries)

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Analytics for InsuranceThe Real Business of Big DataTony Boobier

      This edition first published 2016

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