Data analytics is critical and vital to a solid strategic plan for any line of industry. Acquisitions and developments are in a constant state of evolution to get the most out of this technology. This interesting topic came to our attention from Global Newswire in their article, “Verisk to Acquire FAST to Strengthen Its Data and Analytics Solutions in Life Insurance and Annuities Market.”
Verisk is a well-known data analytics provider that has signed an agreement to acquire FAST, a leading software company for the life insurance and annuity industry. FAST, which stands for “Flexible Architecture, Simplified Technology”, offers a flexible policy administration system that helps insurers accelerate underwriting and claims to enhance the customer experience and support profitable growth.
The intelligence derived from data analytics can transform data into answers for any organization. The analytics strategy should assess the unique business challenges for an organization, matching those challenges with relevant data and resources, and establishing processes that grow capabilities and institutionalize analytics to ensure key decision makers have access to actionable results.
Melody K. Smith
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