The evolution of the Web has brought great change to the insurance industry in the past two decades, both in cost reduction possibilities and in insurers’ value to consumers. As insurers uncover opportunities derived from Web-based technologies, yet another branch of the Internet tree beckons with a golden apple. The “semantic web” has the potential to deliver even more change—and opportunities—to insurers. So says a report issued by the London office of Celent, a research and consulting firm.
The semantic Web, the World Wide Web Consortium’s (W3C) vision of the Web of linked data and its associated technologies, enable people to create data stores on the Web, build vocabularies, and write rules for handling data, notes Craig Beattie, author of the report.
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