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Sector Analysis
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The Rise of Big Data in Insurance
Data has undoubtedly altered the way the insurance industry works, enabling companies to access more information about customers and allowing them to offer the potential for cheaper premiums and rewards. Telematics, wearables, and connected homes are the main established examples. The health sector is where big data’s impact is most evident, with wearable technology increasingly used by large insurers, which offer cheaper premiums, reward schemes and health benefits in exchange for personal data. Statista has forecast that the wearable device...
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