The Irish insurance sector may not be equipped to take advantage of big data, -- the boom in consumer information being amassed online, a report by BearingPoint Institute has said.
The report said companies could be bypassed by 'digital natives' such as Google, The Irish Times reported. It said insurers must plan a faster response, adding that there are encouraging signs. The report looked at insurers worldwide. Its author said "what we've seen is that big data could become quite disruptive for the insurance industry."