How Insurers Can Optimize
Insurance & Technology
Legacy Systems to Handle
This article published in December 2012 in Insurance & Technology offers recommendations on how Insurers should prepare their Analytics legacy systems for the oncoming Big Data Challenge.
With the impending onslaught of Big Data upon insurance companies due to the rise of mass data generator such as smartphones and tablets, in-vehicle geo-localization devices and social networking sites, questions naturally arise regarding the possibility of adapting existing Analytics systems to take advantage of this explosion of data. In order to optimize Analytics investments, a balance between readying legacy Insurance Analytics systems and introducing newer, more sophisticated predictive models must be struck.
This article explores how carriers can ride the technology wave to their advantage. It should be on the reading list of anyone with an Insurance Analytics system that has attained a certain maturity, or is interested in the impact of new technologies and data sources on Insurance Analytics.