Asia: Finding new ways to use Big Data
Source: Asia Insurance Review | Jan 2017
InsurTech is a term that is only a year old, but has already grown into a US$4.7 trillion industry, with Big Data and Analytics acting as two of the underlying forces that are shaping the future of insurance.
Digital innovation and data labs are the new tool for insurers and the industry is diligently working on newer and better ways to utilise the massive amounts of data that passes through their servers and to take advantage of the InsurTech boom.
Nailing down the best data strategy to handle the new consumer-base is the challenge insurers face. Data applications range from creating new customer insights to supporting strategic management decisions to more dynamic underwriting. Each application presents both an opportunity and obstacle.
With so many facets to this issue, Asia Insurance Review will be hosting the 2nd Asia Conference on Big Data and Analytics for Insurance on 23-24 February, to explore the new frontiers data and technology have revealed.
Speakers from insurance firms and technology companies alike will gather to share their insights on how the industry can capitalise on their existing expertise to give them an advantage in the world of Big Data and Analytics.