Big Data ReportInsurance Technology Report
Insurance companies need “better” data security or “more” data security
Insurance is a highly data-intensive industry, making it extremely important for insurers to manage large volumes of data from both traditional and non-traditional sources. As a result, many insurers are spending significant amounts on building Big Data capabilities, finding that Big Data analytics can have an impact on nearly all insurance processes, from product development to claims management.
Big Data analytics is enabling insurers to shift towards customer-centricity by analyzing preferences, behaviors, and attitudes. Score-based models can help insurers design customized products, using demographics, driving and health records, and credit information.
GlobalData’s Big Data in Insurance report analyses how insurers are spending significant amounts on building their big data capabilities, finding that big data analytics can have an impact on nearly all insurance processes, from product development to claims management.