ShareReport: How can Big Data benefit insurance brokers?
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“Big data will completely transform insurance industry”, “The future on insurance is big data” – such bold claims have become a part of more and more industry reports and conference keynotes. But is big data just a hyped-up form of the same, age-old data driven business intelligence, or is something new set to change how brokers, MGA-s and other insurance intermediaries work in the future?
To clear the air about big data, we have compiled a no-nonsense overview of the technology. We reveal the essence of the technology with prospective business benefits and challenges for insurance brokers, while avoiding any technical “complexity-mongering” and hiding behind the mysticism of buzzwords.