The rising impact of digital technologies is well and truly providing enterprises with a huge amount of data, thus opening up various avenues to Big Data and Analytics. Analytical models can predict results, discern patterns and accentuate outliers amongst another set of business cases.
By definition, insurance happens to be an industry that is predominantly built around risk & companies greatly depend on their ability to predict what risks a person, company, or organization represents. With a large repository of accurate data, they are more likely to make a correct prediction, saving themselves money or earning extra revenue
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