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Technology Driven Insurance Data Analytics
( go to the article → https://datafloq.com/read/technology-driven-insurance-data-analytics/8081 )
The nature of the Insurance industry being data-centric, insurers abide by the policy of keeping data as a treasure for their respective growth. This data can only be turned into a gold mine of Insurance Data Analytics by in-depth analysis of other engagement areas of the customer and the insurer depending upon the kind of insurance one prefers.For example, when a car insurance of a customer is considered, every data from the social media profile of the customer to the kind of accident-prone zone the customer resides in is important and can help with better insights in the analytical prediction of risk management and even claim management for that matter. Humans have been exploring the lengths and breadths of data all this while but as the technological disruption of the world has taken away core complex tasks of humans, the insurance industry has started relying on the new-gen technology to deep dive into data – Big data and unstructured data – to pull out the best insights useful for them to help in various insurance business processes.The role of technology for extracting and in some cases, even implementing data analytical decision making is becoming a requisite for an insurer to grow. ...Read More on Datafloq
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