The Entry of Big Data intothe Insurance Space

Big Data—a term that emerged to describe datasets whose size is beyond the ability of traditional databases to capture, manage, and analyze. However, the scope of the term considerably expanded over time. Today, Big Data not only refers to the data itself but also a set of technologies that mange and analyze huge volumes of various data sets to solve complex problems.

Amid the proliferation of real-time and historical data from a diverse set of sources including devices, web, log files and transactional applications, Big Data is rapidly gaining traction from other industrial sectors as well. One of the leading among them is the insurance industry, where Big Data has found a host of applications ranging from offering personalized products targeted marketing to usage-based insurance, efficient claims processing, and proactive fraud detection.

Led by a plethora of business opportunities for insurers, insurance brokers, and InsurTech specialists the Big Data investments in the insurance industry are further expected to grow at a CAGR of approximately 14% over the coming few years. Big Data in the Insurance Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts presents an in-depth assessment of Big Data in the insurance industry including key challenges, market drivers, investment potential, case studies, strategies and vendor profiles. The report also presents market size forecasts for Big Data software, hardware  and professional services investments from 2018 through to 2030.

Share

Related

Combating Risk on the Wheels

We, as individuals, love nothing more than perfection, In...

Industry Leaders and Cutting-Edge Technologies to Gather at COMNEXT, Unlocking Next-Gen Communication

TOKYO, JAPAN — The global communications industry is set...

Roping in AI Assistance to Seamlessly Handle All the Legal Legwork

Ironclad, the leading digital contracting platform for modern businesses,...

Emerging Technology is Making Compliance Even More of a Challenge

One of the biggest cybersecurity challenges that organizations face...

Making the Dental Space More Mindful of its Inventory

Zimbis, a leading provider of innovative smart inventory solutions,...

A Virtual Space Traveller

If there is one fact about human beings that...

Revolutionizing Clinical Trials: Evolution Summit 2025 Returns to San Diego

Marcus Evans is proud to announce the Evolution Summit...

Latest

No posts to display

No posts to display