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How Data and Analytics Can Improve Insurance Claims Management

Smart Data Collective

Data analytics technology has been invaluable for businesses in all sectors in recent years. The insurance sector is no exception. Using data efficiently in the insurance industry is crucial. In a fast-paced world where data is everything, it is imperative to manage it tactfully to get the best results when required.

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Small Companies Use Analytics to Save Big On Business Insurance

Smart Data Collective

Big data technology has been a huge gamechanger in the insurance sector. More insurance are using big data to assist with the underwriting process. They have discovered that data analytics has made the underwriting process a lot easier. However, insurance companies aren’t the only ones affected by big data.

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Customer Needs Put Insurance Leaders to the Test

CIO Business Intelligence

For today’s consumers, shopping and interacting with businesses online has mostly become easier and more convenient than ever — but not when it comes to dealing with insurance companies. In stark contrast to experiences with large consumer-goods websites, people often struggle to find the information and forms they need on insurance sites.

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Tips for Successful Data Science Implementation in Insurance

Decision Management Solutions

Nancy Casbarro and Deb Zawisa of Novarico recently published a new paper on Data Science in Insurance: Expansion and Key Issues subscription required) that was summarized in this nice little article on Dig-in 3 challenges facing insurers in data science implementation. 1 – Getting business buy-in.

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Data Analytics is Crucial for Businesses Preparing for Financial Disasters

Smart Data Collective

Having an emergency fund and the right insurance in place will be massively important when it comes to making sure such changes don’t cripple your business. This is where data analytics technology can become very important. You will want to know how to use data analytics technology effectively to deal with these challenges.

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Analytics Changes the Calculus of Business Tax Compliance

Smart Data Collective

Data analytics technology has had a profound impact on the state of the financial industry. A growing number of financial institutions are using analytics tools to make better investing decisions and insurers are using analytics technology to improve their underwriting processes.

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Using Data Analytics to Determine if a Fintech Site is Safe to Use

Smart Data Collective

Data analytics technology has been very beneficial for many consumers around the world. You can use data mining and analytics technology to make more informed decisions about purchases that you intend to make. They can also use this technology to determine whether it is safe to use a particular Fintech website.