Interestingly, insurance does have a need for process intelligence, customer / case / market track and trace + sense and respond… not to mention the investment side of insurance carriers is just another type of investment bank.

Cheers

The article misses a key point in that it doesn’t distinguish between event driven or real-time analytics and the use of analytics in event driven or real-time decision making.

Real-time analytics are much farther in the future for an industry like insurance. On a basic level, they just don’t have the kind of real time data that would allow for analytics that adapt to every event. Claims resolution, loss rates and fraud reports aren’t updated on a second-by-second basis. At best, they have hourly data but more likely weekly, monthly, quarterly, etc.

So I would see insurance as a place where they do traditional analytics (maybe updated more frequently than in the past, but not on an event-by-event basis) and feed that into a rules system to allow for better automated decisions on individual applications or claims.

The article totally misses this reality, IMO.