1、On the brink:Realizing the value of analytics in insurance February 2023Insurers in Europe,the Middle East,and Africa invest significantly in advanced analytics but have unlocked a fraction of the potential value.How do top performers tip the balance in their favor?Insurance PracticeThis report is a

2、 collaborative effort by Umar Bagus,Ramzi Elias,Alena Fedorenko,Sanja Franic,Udo Klotzki,and Rui Neves,representing views from McKinseys Insurance Practice.Cover image:Westend61/Getty Images Copyright 2023 McKinsey&Company.All rights reserved.This publication is not intended to be used as the basis

3、for trading in the shares of any company or for undertaking any other complex or significant financial transaction without consulting appropriate professional advisers.No part of this publication may be copied or redistributed in any form without the prior written consent of McKinsey&Company.Advance

4、d analytics(AA)including artificial intelligence and machine learning methods continues to be a top-of-mind topic among executives in the insurance sector.However,despite significant value at stakean estimated 1.2 trillion in value globally1and increased competition from tech-native entrants,the upt

5、ake and impact of AA in insurance across Europe,the Middle East,and Africa(EMEA)is varied.A new study from QuantumBlack,AI by McKinsey has found that while EMEAs insurers are investing in analytics use cases across the value chain,most fail to capture significant value from AA:86 percent of surveyed

6、 EMEA companies either realize less than 5 percent of their operating profit from AA or are not tracking value capture from AA at all.(For more on the methodology,see sidebar,“About the research.”)The relatively low value realization is driven by a number of factors,including a relative lack of C-le