The smart insurer: embedding big data in corporate strategy

Insurance companies have always generated business value from raw data, using the resulting insights in day-to-day activities like assessing risk, defining pricing models or improving client insights. Even as insurers look to improved analytics and a widening pool of data sources to improve and enhance existing business activities, they are increasingly concerned by new, information-centric market entrants such as telcos, retailers and information brokers, who may be able to act faster than the traditional incumbents. Could big data and advanced analytics be disruptive for the whole insurance industry?