Big data. Big data. Big data. Yeah … so what? What does big data have to do with insurers? Just think about it. You sift and search and sort incredible amounts of data – adjusters’ hand-written notes, data from fraud lists and the information from claims management systems and the NICB claims database. Are you getting the most from that data?
With so many claims to handle, your adjusters don’t have time to sift through all of that data to evaluate each claim. But they may not make the best decision if they miss a valuable piece of information. That means many of their decisions are based on experience, gut feeling and the limited information that is readily at hand.
For this reason – and many others – big data analytics is playing an increasingly important role in the insurance business. Working alongside adjusters, analytics can flag claims for closer inspection, priority handling and more.
Here are six areas where analytics can make a big difference:
To read more go to: http:sas.com