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Big Data in Insurance - Thematic Research

Big Data in Insurance - Thematic Research

Summary

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. The objective should be to identify areas where Big Data can make a difference and create value for both insurers and the insured. Technology vendors are also aware of Big Data’s ability to deliver business insights. Simplification, cost reduction and revenue growth are the three key drivers behind Big Data’s adoption in the insurance industry.

Scope

This report analyses the impact of big data on the insurance industry.
-It 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.
-Simplification, cost reduction and revenue growth are being seen as the three key drivers behind big data’s adoption in the insurance industry.

Reasons To Buy

The report highlights some of the market-leading players in each category of the big data value chain.
-It identifies the main trends expected over the next two years in the big data theme.
-It provides an industry analysis, explaining how data center computing is at the heart of virtually everything done online.
-The report discusses the impact of big data on insurance through recommendations for both insurers and technology providers.
-The report explores the key segments of the big data value chain and its value to consumers and businesses.
-It offers a technology briefing, explaining how big data combines traditional data management technologies with new forms of data processing that are better suited to modern formats.