Harnessing the power of big data presents insurers with a phenomenal business opportunity. The question is, are they ready for it?
At its simplest level, big data refers to a mass of information held digitally, that is so large, making it difficult to analyse, search and process. Insurers already hold vast amounts of data, but now they can gather even more from new sources such as GPS-enabled devices, social media postings and CCTV footage.
This whitepaper focuses on how insurers can gain a competitive advantage through data analytics.
Topics covered include:
- Data pricing models.
- Tapping into telematics.
- Accessing the right data.
- Working with loss adjusters.
- Challenges within big data.