Insurance companies playing catch up with Big Data
Insurance companies need to put their best foot forward to make the most of big data in providing better services for customers, says Peter Wilson
If the headlines are to be believed, the British insurance industry is riding a wave of innovation, with record funding for ‘insurtechs’ and a blizzard of exciting changes promised by the world of big data.
Telematics are being used to change driving habits and premiums, wearable devices are collecting data for health insurers and start-ups are promising to offer subscription models of insurance that can change with a customer’s needs.
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