We examine the impact of Big Data Analytics on the insurance sector , and look at five ways industry leaders are harnessing data to create competitive advantage
INSURTECH
We examine the impact of Big Data Analytics on the insurance sector , and look at five ways industry leaders are harnessing data to create competitive advantage
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T here ’ s a revolution sweeping the global insurance industry . A digital transformation of epoch-shattering proportions is rendering old methodologies obsolete , and redrawing the playing field for some of the world ’ s most venerable corporations . That transformation is being driven by Big Data Analytics . Here we examine the top five ways that industry leaders are harnessing the power of data to generate value and create competitive advantage .
This is the age of data ; companies around the world have access today to more points of information than at any other time in human history . 90 % of all the data in the world was created in the last two years . Every day , the planet creates more than 2.5 quintillion bytes of information .
“ Every interaction with your computer or phone creates data . Every interaction on social media creates data . Every time you walk down the street with a phone in your pocket , it ’ s tracking your location through GPS sensors – more data . Every time you
MAY 2020