Big Data in the Insurance Industry To Show The Growth Factor 2018-2030

Posted by Bharat Book on September 6th, 2018

Bharat Book Bureau Provides the Trending Market Research Report on “Big Data in the Insurance Industry: 2018 - 2030 - Opportunities, Challenges, Strategies & Forecasts” under Services category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Big Data originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.

Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The insurance industry is no exception to this trend, where Big Data has found a host of applications ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.

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Big Data investments in the insurance industry will account for more than .4 Billion in 2018 alone. Led by a plethora of business opportunities for insurers, reinsurers, insurance brokers, InsurTech specialists and other stakeholders, these investments are further expected to grow at a CAGR of approximately 14% over the next three years.

Browse our full report with Infographic : https://www.bharatbook.com/InfoGraphics/Big-Data-in-the-Insurance-Industry-2018-2030/26

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