How to transform insurance through big data

How to transform insurance through big data

Trends can be identified through various data sources such as medical history, lifestyle choices, demographics and even driving habits to ensure a correct pricing structure.

By FRANCOIS VAN DYK

Every now and then, a new buzzword pops up which remains fashionable for a while but then disappears again. “Big data” does not appear to be one of these terms. Many executives, entrepreneurs and marketers have now adopted it as part of their jargon – but the reality is many use the term without knowing the true meaning of it. Wikipedia defines big data as a “broad term for data sets so large or complex that traditional data processing applications are inadequate.”

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