Analytics for insurance – turning data into your business’ most useful tool
The use of big data analytics in insurance presents exponential opportunities for the industry. Improved understanding of risks can better inform risk reduction, enhance insurability and streamline the overall business transaction process. However, the (re)insurance industry is facing major challenges when trying to put the vast amounts of data they possess into usable formats.
The panel will discuss:
• Big data and its implications for innovation and privacy
• Data processing, cloud processing and turning data into a useable format
• The significance of better risk selection and pricing on this industry and all its players
• The future of enhancing predictive analysis