Data analytics has the potential to redefine how organizations are structured, breaking down long-standing barriers between departments like Information Technology (IT) and traditional insurance functions. But creating the kind of organization-wide change made possible through big data is easier said than done.
A critical component of bringing about successful and lasting change is for frontline employees in departments such as claims and underwriting to develop a data-driven mindset and for data scientists to better understand the inner workings of the insurance business.
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