Infographic: Study of the Research/Insights Function in the Insurance Industry
There's "good, bad and ugly" news from a recent study on the research and insights function in the insurance industry. Interviews with insurance company researchers revealed that the majority feel their work is used to drive informed business decisions, but more than half also believe their efforts are ignored, unused and/or duplicated.
The study was conducted by the Society of Insurance Research (SIR) and Zeldis Research, and presented at the recent annual meeting by Brian Kiley of West Bend Mutual, Patrice Nolan of Competiscan, and Amy Rey, Zeldis Executive Vice President.
The study also delved into the structure of the research function within the insurance industry, how insights roles are integrated within the carrier, how success is defined and measured, pressing issues impacting the research function, and what tools and technology are being used.