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Big Data: A Game Changer for Insurance Industry

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Big data – unstructured and/or structured data being used to influence underwriting, rating, pricing, forms, marketing and claims handling and incentivize risk reduction – is a relatively recent development in the insurance industry, the data sets previously being too impossibly great to analyse through traditional methods. However, with the global capacity to collect and store data growing alongside advancements in AI and machine learning technology, insurers need to seri...
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