“Monitoring is useless…It is the actions you take that matter.”
Proactive monitoring, a key to becoming more intelligent and dynamic in the highly-competitive insurance world, is gaining in importance.
It delivers key benefits of focused reviews, making teams more proactive, removing prioritization risk, earlier error detection, and pointing to shifts in the environment that might otherwise be missed. Yet, less than 10% of insurers currently engage in continuous/real-time monitoring.
Aaron lays out a four-step process that begins with identifying Available Action Levers, followed by developing Monitored KPIs, then identifying Data Needs, and finally establishing Business Rules for Alerts. As with any journey, the key is to take the first steps.
Aaron, Earnix’s Director of Strategy, recently joined the company from United Services Automobile Association (USAA). During his 20 years with USAA, he held multiple roles, including Pricing, State Management, Catastrophe Management, Comparative Pricing and Analysis, and led a Modeling Center of Excellence.
Gain a deeper understanding of your monitoring journey and the competitive advantage it can deliver by viewing the session in its entirety.