Role of Big Data Analytics in Insurance

Dr. Param Jeet and Er. Subodh Pandey

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Data in the insurance industry is increasing exponentially, with a 90% increase in the last two years. This big data cannot be managed efficiently using old technologies but requires next-generation solutions.

How can the insurance industry work with big data to price policies, settle claims, analyze customer behavior, detect fraud, and map threats? Learn about big data’s 3 V’s, big data analysis and its benefits, and how to work with unstructured data. Then, examine some big data use cases in the insurance sector.