Survey: More P&C Insurers Using Predictive Analytics, but 25% Doubt Efficacy

More property and casualty insurers are using predictive analytics in underwriting this year, though a portion of them doubt the tool's efficacy, Valen Analytics' second annual survey found. A quarter of the 115 respondents to Valen's survey said underwriter adoption of predictive analytics was of high concern to them. In the survey's first year, 82% said it was of high concern, though just 39 insurance companies were surveyed then. Sixty-five percent of respondents used predictive analytics this year, up 9% from last year, Valen said. A little more than half of carriers &md...