With around six months to prepare for GDPR, this article explores how insurers should now be looking not only at how to ensure compliance, but also leverage GDPR to advance their business and meet the rising demands of the consumer.
In an increasingly competitive industry, insurance firms have to operate more efficiently, provide exceptional customer service and utilise the latest technologies. Leveraging data analytics offers insurers the ability to refine these processes and meet growing customer demands and regulatory requirements. CX Network spoke exclusively with Javier Rodriguez, Head of Data Science and Dani Sola, Head of Data Engineering, Simply Business about the 6 key ways that data is transforming the insurance industry.
The insurance sector has traditionally been fairly risk averse when it comes to new technologies due to the nature of the industry. But in the race to cut through the noise, comprehend and utilise the data lakes produced by the ever advancing digital climate, many in the insurance industry are joining the trend of machine learning. In this article we will explore case studies from four individuals familiar with the technology to gain insight into the lessons learnt from their experiences with machine learning.