Big data continues to gain traction among insurance professionals, but its footprint is still relatively small, according to Strategy Meets Action (SMA), an insurance advisory firm. The findings are part of two new SMA studies that look at the increased focus on big data within the insurance industry.
Indicative of the growing interest in big data, this year 25 percent of insurers say they are investing in big drojects—a big jump over last year’s 9 percent. On the other hand, that leaves 75 percent of all insurers that still haven’t tapped into the technology’s potential.
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