Data Science – When Big Data Isn’t An Option
Indeed, we live in an age when our personal data is captured and employed by a range of industries to predict behavior, customize product offerings and improve service. In the insurance sector, when we think of “big data,” we typically think of personal lines, conjuring images of vast quantities of personal information on individual insureds, ranging from where we live and what we buy, to how we drive.
What is less well-appreciated is how predictive analytics are transforming the commercial lines industry and how specialty insurers are harnessing these tools to bolster underwriting, pricing and risk evaluation.
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