Big data transforms insurance sector

Posted On: Mar. 1, 2017 5:00 AM CST

Kelly Preston, data analytics manager at South Africa-based software developer Silverbridge Holdings Ltd., has said that growth of big data has changed the way insurers use information to price their risks, meet regulatory and compliance demands and improve customer relationships, IT News Africa reported. Being able to leverage a vast amount of data in real time means the insurer can adopt a predictive approach versus the reactive and responsive nature of the past, Ms. Preston said.