Big data is especially promising and differentiating for insurance companies. With no physical products to manufacture, data is arguably one of their most important assets. Financial, actuarial, claims, risk, consumer, producer/wholesaler and many other types of data form the basis for virtually every decision an insurer makes.
SNS Telecom & IT estimates that Big Data investments in the insurance industry will account for more than $2.4 Billion in 2018 alone. Led by a plethora of business opportunities for insurers, reinsurers, insurance brokers, InsurTech specialists and other stakeholders, Big Data In Insurance Market these investments are further expected to grow at a CAGR of approximately +14% over the next Five years.
However, the use of Big Data In Insurance raises complex issues and trade-offs with respect to customer privacy, individualisation of products and competition. Assessing these trade-offs requires complex value judgements, and the way they are addressed leads to different scenarios for the future development of the sector. In this context, policy choices can have far-reaching consequences for the future face of the industry, its socio-economic relevance and the value it creates for its customers.
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Topmost Key Vendors:
Aetna, AFS Technologies, Alation, Algorithmia, BackOffice Associates, Basho Technologies, BCG (Boston Consulting Group), Bedrock Data, BetterWorks, CACI International, Cambridge Semantics, Cape Analytics, Capgemini, Dataiku, Datalytyx, Datameer, HCL Technologies, Hedvig, Hitachi Vantara, IBM Corporation, iDashboards, IDERA, Informatica, Information Builders, Infosys, Infoworks, NTT Data Corporation, Numerify, NuoDB, NVIDIA Corporation.
This research evaluates the market for Big Data in Insurance Market industry including high-impact areas and those with high ROI potential. All purchases of Researcher reports includes time with an expert analyst who will help you link key findings in the report to the business issues you’re addressing. This needs to be used within three months of purchasing the report.
Reasons to buy:
– The report highlights some of the market-leading players in each category of the big data value chain.
– It identifies the main trends expected over the next two years in the big data theme.
– It provides an industry analysis, explaining how data center computing is at the heart of virtually everything done online.
– The report discusses the impact of Big Data In Insurance Market through recommendations for both insurers and technology providers.
– The report explores the key segments of the big data value chain and its value to consumers and businesses.
– It offers a technology briefing, explaining how big data combines traditional data management technologies with new forms of data processing that are better suited to modern formats.
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Big Data In Insurance Market Segment by Application:
– Auto Insurance
– Property & Casualty Insurance
– Life Insurance
– Health Insurance
– Multi-Line Insurance
– Other Forms of Insurance
– Insurance Broking
It also offers a comparative study of the global market to understand the difference in performance among global competitors. Also, it represents how those competitors competing against each other’s to drive the businesses rapidly. This publication includes market segmentation such as applications, end-users, and geography. Researchers present informative data in a clear and professional manner.
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It enlists top key drivers which are prompting on market growth such as capital base, economies of scale and more on. Also, it sheds light on branding techniques, sales approaches, strategic vision, and technical advancements. Collectively, it gives more focus on market value at regional level, global level and company level.